Bulkowski's Blog: ThePatternSite.com
As of 07/22/2024
  Indus: 40,415 +127.91 +0.3%  
  Trans: 15,900 +116.79 +0.7%  
  Utils: 957 +6.49 +0.7%  
  Nasdaq: 18,008 +280.63 +1.6%  
  S&P 500: 5,564 +59.41 +1.1%  
YTD
 +7.2%  
 +0.0%  
 +8.6%  
 +20.0%  
 +16.7%  
  Targets    Overview: 07/12/2024  
  Up arrow41,500 or 40,000 by 08/01/2024
  Up arrow16,500 or 15,600 by 08/01/2024
  Up arrow1,000 or 910 by 08/01/2024
  Up arrow19,200 or 17,800 by 08/01/2024
  Up arrow5,750 or 5,500 by 08/01/2024
As of 07/22/2024
  Indus: 40,415 +127.91 +0.3%  
  Trans: 15,900 +116.79 +0.7%  
  Utils: 957 +6.49 +0.7%  
  Nasdaq: 18,008 +280.63 +1.6%  
  S&P 500: 5,564 +59.41 +1.1%  
YTD
 +7.2%  
 +0.0%  
 +8.6%  
 +20.0%  
 +16.7%  
  Targets    Overview: 07/12/2024  
  Up arrow41,500 or 40,000 by 08/01/2024
  Up arrow16,500 or 15,600 by 08/01/2024
  Up arrow1,000 or 910 by 08/01/2024
  Up arrow19,200 or 17,800 by 08/01/2024
  Up arrow5,750 or 5,500 by 08/01/2024

July 2023 Headlines

Archives


Monday 7/31/23. Market Monday: The Week Ahead

My Prediction

Picture of the Nasdaq on the daily scale.

There's not much going on in this chart of the Nasdaq composite on the daily scale.

I drew two nearly parallel lines, shown here in red, highlighting the upward trend. The index touched the top trendline and bounced off it, suggesting it'll fall to the lower red line.

I'm not sure if that'll happen or not. I have my doubts.

One thing is clear: The index has made a nice move up since the low in March. I'm expecting continued gains.

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A Brief Look Back

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Up 183.55 points.
Tuesday: Up 26.83 points.
Wednesday: Up 82.05 points.
Thursday: Down 237.4 points.
Friday: Up 176.57 points.

For the Week...

The Dow industrials were up 231.6 points or 0.7%.
The Nasdaq composite was up 283.85 points or 2.0%.
The S&P 500 index was up 45.89 points or 1.0%.

Year to Date...

Dow Industrials
     0.5% down from the high of 35,645.35 on 07/27/2023.
     12.8% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     0.9% down from the high of 14,446.55 on 07/19/2023.
     39.5% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     0.5% down from the high of 4,607.07 on 07/27/2023.
     20.8% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  35,250  35,354  35,460  35,565  35,670 
Weekly  35,012  35,235  35,440  35,664  35,869 
Monthly  32,870  34,165  34,905  36,200  36,940 
S&P500 (^GSPC): Daily  4,553  4,567  4,579  4,594  4,605 
Weekly  4,494  4,538  4,573  4,617  4,651 
Monthly  4,227  4,405  4,506  4,684  4,785 
Nasdaq (^IXIC): Daily  14,127  14,222  14,283  14,378  14,439 
Weekly  13,862  14,089  14,225  14,452  14,588 
Monthly  12,920  13,619  14,033  14,731  15,145 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 108 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ATSG, ALL, AMZN, DOX, ANIK, ATR, ACGL, ANET, AGO, AXS, BCPC, BMRN, BR, CBT, CNP, CVX, CHD, CIEN, CINF, CLX, CNA, CTSH, CMCO, DRQ, DTE, EXP, EIX, EME, FLEX, FORM, FDP, GPRO, GFF, HIG, HAYN, HON, HOV, ITW, PODD, ITGR, INTC, TILE, ISRG, IRM, KEYS, KLIC, LH, LAMR, LEN, L, LXU, MCHX, MRTN, MDT, NTGR, NJR, JWN, NTNX, PRFT, PG, QCOM, RHI, ROK, ROL, RGLD, SBH, SKX, SO, SXI, SSYS, TKR, TWLO, VEEV, WRB, WU, WEX, WSC, WOLF, WDAY, IAI, FTEC, QTEC, FXL, FXI, QQQ, ICF, IXN, EWA, EWK, EEM, EWQ, EWH, EWS, EZA, EWY, TUR, QLD, XLY, GLD, XLK, UNG, USO. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Homebuilding1. Homebuilding
2. Semiconductor2. Semiconductor
3. E-Commerce3. E-Commerce
4. Semiconductor Cap Equip.4. Computer Software and Svcs
5. Cement and Aggregates5. Cement and Aggregates
6. Trucking/Transp. Leasing6. Air Transport
7. Computer Software and Svcs7. Retail Building Supply
8. Retail Building Supply8. Internet
9. Air Transport9. Trucking/Transp. Leasing
10. Internet10. Semiconductor Cap Equip.
Best Performing AboveWorst Performing Below
50. Insurance (Life)50. Furn/Home Furnishings
51. Petroleum (Producing)51. Electric Utility (East)
52. Medical Services52. Medical Services
53. Toiletries/Cosmetics53. Securities Brokerage
54. Natural Gas (Distributor)54. Natural Gas (Distributor)
55. Securities Brokerage55. Petroleum (Producing)
56. Chemical (Diversified)56. Toiletries/Cosmetics
57. Petroleum (Integrated)57. Petroleum (Integrated)
58. Short ETFs58. Telecom. Equipment
59. Telecom. Equipment59. Short ETFs
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 7/28/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 260 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, ATVI, AJRD, AES, AFL, ATSG, ALL, AYX, AMZN, DOX, AMED, AXP, AME, ANIK, AR, AAPL, AMAT, ACGL, ADM, AWI, AIZ, AZTA, BMI, BCPC, BALL, BECN, BBY, BAH, BMY, BR, CACI, CAL, CPB, CLS, CNP, CENX, CDAY, CRL, CVX, CHS, CNA, CNX, CTSH, CMTL, CXW, GLW, CSGP, COST, CROX, CCRN, XRAY, DVN, FANG, ^DJI, DTE, BOOM, EPAM, EL, FDS, FISV, FMC, FWRD, FDP, GPS, GD, GILD, GPN, GMS, GPRO, GES, HQY, HSY, HOLX, HON, HOV, JBHT, HUN, IDXX, INFN, IBP, PODD, ITGR, IBKR, IPI, ISRG, IRM, KALU, KEYS, KLIC, LRCX, LAMR, LANC, LDOS, LEN, LNC, RAMP, MAN, MRO, MLM, MA, MTDR, MTRX, MDT, MRK, META, MU, MSFT, MUR, MYGN, ^IXIC, NFG, NOV, NTGR, NTAP, NEWR, NXGN, NKE, JWN, NUS, NTNX, NVDA, OXY, OMC, ASGN, ON, OR, OUT, OMI, PANW, PKE, PYPL, PRFT, PETS, PPG, PG, PHM, QTWO, QCOM, DGX, RL, RGS, RGA, ^GSPC, SAIA, SBH, SLB, SEE, NOW, SHW, SHOP, LUV, SWX, SPLK, SCS, SSYS, SUM, SRDX, TRGP, TJX, RIG, TZOO, UGI, UNH, VECO, VEEV, VC, VMC, WRB, WMT, WU, WSC, WOLF, WWW, WDAY, IYM, IAI, IYK, IYC, ITB, IEZ, DDM, FDN, BOTZ, ICF, IYH, IHF, IAT, IXC, MXI, ILF, SOXX, IGE, IYF, IHI, EWA, EWO, EWC, EEM, EWH, EWM, EPP, EWS, EZA, EWD, EWT, THD, TUR, EWU, IBB, PPA, PBE, PEJ, PXJ, PHO, SSO, XLY, XLP, XLF, XLV, XLI, XLB, XRT, SPY, XAR, USO, SMH, VHT, VIS, VAW, MGK. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

You can find setups based on a Fibonacci retrace by clicking on the link.

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AFLThree Rising Valleys      05/31/202307/17/2023Insurance (Diversified)
AATriangle, symmetrical      05/31/202307/27/2023Aerospace/Defense
ALLPipe bottom      07/10/202307/17/2023Insurance (Prop/Casualty)
AMNDouble Top, Adam and Eve      07/11/202307/20/2023Human Resources
AIZThree Rising Valleys      06/28/202307/17/2023Insurance (Diversified)
AVAPipe bottom      07/03/202307/10/2023Electric Utility (West)
BSXBroadening bottom      07/11/202307/27/2023Medical Services
CLDouble Bottom, Adam and Adam      06/28/202307/11/2023Household Products
CSGPDouble Top, Adam and Eve      06/30/202307/19/2023Information Services
^DJUTriangle, ascending      06/16/202307/19/2023None
DTriple bottom      06/29/202307/18/2023Electric Utility (East)
BOOMDouble Bottom, Adam and Adam      06/05/202306/23/2023Metal Fabricating
EXPDRising wedge      06/16/202307/27/2023Air Transport
FFIVTriple bottom      06/23/202307/07/2023Internet
FETriangle, ascending      05/11/202307/20/2023Electric Utility (East)
HOLXDouble Bottom, Eve and Adam      07/06/202307/19/2023Medical Supplies
HONDouble Top, Adam and Eve      07/12/202307/21/2023Aerospace/Defense
ISRGPipe top      07/10/202307/17/2023Medical Supplies
MUPipe bottom      07/03/202307/10/2023Semiconductor
OXYDouble Bottom, Adam and Adam      05/11/202306/23/2023Petroleum (Producing)
OGETriple bottom      06/29/202307/18/2023Electric Utility (Central)
PDCOTriangle, symmetrical      06/30/202307/24/2023Medical Supplies
PETSHead-and-shoulders bottom      06/22/202307/24/2023Medical Services
PLXSDouble Top, Adam and Adam      07/19/202307/25/2023Electronics
DGXDouble Top, Adam and Eve      06/23/202307/24/2023Medical Services
SBHRectangle top      06/07/202307/27/2023Toiletries/Cosmetics
SOTriple bottom      06/02/202307/18/2023Electric Utility (East)
TDOCPipe bottom      07/03/202307/10/2023Healthcare Information
TDYHead-and-shoulders top      06/30/202307/26/2023Aerospace/Defense
TSCODouble Bottom, Eve and Adam      07/17/202307/25/2023Retail Building Supply
TGUgly double bottom      06/16/202307/06/2023Chemical (Specialty)

 

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Thursday 7/27/23. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -0.1% or -17.28 points. Since 02/05/1971 the Nasdaq made 631 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 350 occasions.
     Average loss was -0.9% on 281 occasions.
Expect the Nasdaq to close higher 55.5% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 261/460 or 56.7% of the time.
     The prediction of the Nasdaq closing lower has been right 72/152 or 47.4% of the time.

Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

I show a picture of the Nasdaq composite on the 5-minute scale.

The chart shows a broadening formation, right-angled and ascending, which I often abbreviate RABFA.

The index touches the bottom trendline (red line) multiple times and even pierces it early on. The top trendline (red line) also has plenty of touches.

However, Wednesday's trading was all over the place, likely caused by a report of an interest rate rise by the FED. Traders couldn't decide if the news was good or bad.

What does the indecision say about the coming price action? I've no idea. Smiley

$ $ $

Here's a symbol list of 127 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACIW, ATSG, ALK, ALKS, ALL, AYX, AMZN, APH, ADM, ANET, ADP, AZTA, BMI, BBY, BIG, BA, BKNG, CHS, CTAS, CNA, CNX, CGNX, CMTL, ED, CXW, CR, CCRN, ^DJT, ^DJI, DTE, EIX, ELV, EVRG, FARO, GPS, GIS, GFS, GS, GOOGL, HLIT, HSY, HOV, TILE, IPI, ISRG, IRM, JBLU, KSS, LHX, LDOS, LLY, LNC, MANH, MKTX, META, MSFT, MLI, MYGN, NBR, NFLX, NTAP, NWL, NEU, JWN, NOVT, NVDA, OTEX, ORCL, OR, PKE, PFG, PRU, PHM, QTWO, KWR, RRC, RHI, R, SBH, SAIC, SMG, SEE, SO, SWN, SR, TDY, TJX, TOL, TREX, SLCA, UNH, UNM, VLO, VEEV, WRB, WSO, WOLF, WWW, IYC, IDU, DDM, FXI, ICF, IXN, EWK, EWZ, EEM, EWM, EWS, TUR, PEJ, PJP, XLF, SPY, XLU. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  12,857.29    
 Monthly S1  13,492.28  635.00   
 Weekly S2  13,771.99  279.71   
 Weekly S1  13,949.64  177.64   
 Monthly Pivot  13,969.42  19.78   
 Daily S2  13,973.46  4.04   Yes! The Daily S2 is close to the Monthly Pivot.
 Low  14,041.95  68.49   
 Daily S1  14,050.37  8.42   Yes! The Daily S1 is close to the Low.
 61.8% Down from Intraday High  14,097.49  47.12   
 50% Down from Intraday High  14,114.65  17.16   
 Daily Pivot  14,118.86  4.21   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Open  14,123.52  4.66   Yes! The Open is close to the Daily Pivot.
 Close  14,127.28  3.76   Yes! The Close is close to the Open.
 38.2% Down from Intraday High  14,131.81  4.53   Yes! The 38.2% Down from Intraday High is close to the Close.
 High  14,187.35  55.54   
 Daily R1  14,195.77  8.42   Yes! The Daily R1 is close to the High.
 Weekly Pivot  14,198.09  2.32   Yes! The Weekly Pivot is close to the Daily R1.
 Daily R2  14,264.26  66.17   
 Weekly R1  14,375.74  111.48   
 Monthly R1  14,604.41  228.68   
 Weekly R2  14,624.19  19.78   
 Monthly R2  15,081.55  457.35   

Wednesday 7/26/23. A Look At Indicators

Picture of the chart pattern indicator

This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.

The CPI is trending lower as the chart shows (look at the thin blue line near chart bottom). It's not a good sign but don't panic yet.

As it is right now, there's bearish divergence between the indicator and the index.

Picture of the percent down indicators

The red line is the percentage of stocks at least 20% below their 1-year high (plotted upside down). The blue line is the average percentage drop of stocks below their 1-year high (plotted upside down).

Shown as a red line on the above chart...
On Tuesday, 27% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 31%.
The fewest was 27% on 07/25/2023.
And the most was 77% on 09/26/2022.
Shown as a blue line on the above chart...
The 523 stocks in my database are down an average of 14% from their yearly high.
A week ago, the average was 15%.
The peak was 14% on 07/25/2023.
And the bottom was 34% on 09/30/2022.

Both lines show improvement this week compared to a week ago. That's the good news. The bad news is I'm not sure what it means. The prior chart is bullish but shows a change coming.

This chart is still bullish. My guess is we'll see a retrace soon. Perhaps as soon as tomorrow (Wednesday) after the FED reports.

$ $ $

Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ANF, ACIW, ADTN, AEIS, AFL, ALRM, ALL, AMZN, ANIK, ATR, ASH, ADSK, AZTA, BSET, BIIB, BKH, BSX, BCO, BR, BBW, CNP, CHKP, CHD, CI, CGNX, CMTL, ED, CONN, CXW, CSGP, CCRN, DTE, DUK, BOOM, EBAY, EIX, EXPI, FFIV, FICO, FARO, FCX, GE, GIS, GPRO, HE, HTLD, HOV, ITW, ISRG, JBLU, JNJ, KLAC, LHX, LH, LDOS, LEN, L, MRO, MAS, MDC, META, NFG, NXGN, NOC, NTNX, NVDA, ON, PKG, PPL, PHM, DGX, RTX, RNG, RGLD, SBH, SAIC, SEE, SIGI, SCI, SHW, STR, SKX, SCCO, LUV, SNPS, TPR, TDY, TFX, TJX, TOL, TDG, TREX, TWLO, UGI, VFC, VMI, VEEV, WRB, WEX, WOLF, IYM, DDM, FXI, IAT, MXI, ILF, EWA, EWQ, EWH, EIS, EWM, EPP, EZA, EWY, EWT, THD, TUR, PJP, XLB, SPY, UNG, USO, SMH. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

-- Thomas Bulkowski

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Tuesday 7/25/23. Slider Trading Quiz!

The Dow climbed by 0.5% or 183.55 points. Since 10/01/1928 the Dow made 957 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 517 occasions.
     Average loss was -0.6% on 440 occasions.
Expect the Dow to close higher 54.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 267/484 or 55.2% of the time.
     The prediction of the Dow closing lower has been right 51/108 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring United Technologies: UTX stock.

$ $ $

Here's a symbol list of 142 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADBE, AES, ALB, ALKS, AYX, AFG, ABC, ATR, ADM, ADP, AVA, BKH, BOOT, BSX, BMY, BBW, CACI, CLS, CX, CENX, CF, CRL, CVX, CHS, CNX, CL, COP, CXW, CTS, CMI, DECK, XRAY, DDS, DFS, ^DJI, DTE, EIX, EOG, EFX, EL, EG, EZPW, GIS, GPRO, THG, HQY, HTLD, HOLX, ITW, NSP, ITGR, TILE, IPG, ISRG, JNJ, KBH, LH, LAMR, MAN, MRO, MDC, MU, MS, MUR, NEU, JWN, NOVT, NUS, OXY, OGE, ORI, OLN, OMCL, PKG, PKE, PFE, PPG, PEG, PSTG, QTWO, RNG, RHI, RCKY, RES, SBH, SEE, SIGI, SCI, STR, SKX, SWX, SCS, SRDX, TRGP, TDOC, TFX, TJX, TDG, SLCA, VLO, WRB, WU, WWD, IYE, DDM, FXI, IYZ, IXC, SLV, IGE, IEO, IYF, IHI, EWO, EWC, EEM, EWH, EIS, EWM, EZA, EWY, TUR, DBA, PBE, PJP, XLE, GLD, USO. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  33,035.66    
 Weekly S2  34,113.53  1,077.87   
 Monthly S1  34,223.45  109.92   
 Weekly S1  34,762.38  538.93   
 Monthly Pivot  34,798.11  35.73   
 Weekly Pivot  35,067.58  269.47   
 Daily S2  35,135.49  67.91   
 Low  35,230.79  95.30   
 Open  35,230.79  0.00   Yes! The Open is close to the Low.
 Daily S1  35,273.36  42.57   
 61.8% Down from Intraday High  35,319.86  46.50   
 50% Down from Intraday High  35,347.38  27.52   
 Daily Pivot  35,368.67  21.29   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  35,374.89  6.23   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  35,411.24  36.34   
 High  35,463.97  52.73   
 Daily R1  35,506.54  42.57   
 Daily R2  35,601.85  95.30   
 Weekly R1  35,716.43  114.59   
 Monthly R1  35,985.90  269.46   
 Weekly R2  36,021.63  35.73   
 Monthly R2  36,560.56  538.93   

Monday 7/24/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow industrials on the daily scale.

Not much is happening in the Industrials this week. I show the chart on the daily scale, by the way.

A line of overhead resistance should have stopped the advance, and it did, but only for a few peaks in June before the index busted through upward. The resulting move was a nice deposit in my wallet.

As they say, a rising tide lifts all boats.

What's next? The CPI chart (Chart Pattern Indicator not consumer price index, not shown) is trending lower. That suggests the upward move is running out of steam. Of course, it's being powered by earnings reports now. Maybe we'll have some companies miss and will pull the index lower.

I'm doing some selling in anticipation of a lower value in September when I'll buy back in.

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A Brief Look Back

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Up 76.32 points.
Tuesday: Up 366.58 points.
Wednesday: Up 109.28 points.
Thursday: Up 163.97 points.
Friday: Up 2.51 points.

For the Week...

The Dow industrials were up 718.66 points or 2.1%.
The Nasdaq composite was down 80.89 points or 0.6%.
The S&P 500 index was up 30.92 points or 0.7%.

Year to Date...

Dow Industrials
     0.4% down from the high of 35,372.77 on 07/20/2023.
     12.1% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     2.9% down from the high of 14,446.55 on 07/19/2023.
     36.7% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     0.9% down from the high of 4,578.43 on 07/19/2023.
     19.6% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  35,097  35,162  35,251  35,317  35,406 
Weekly  34,052  34,640  35,006  35,594  35,960 
Monthly  32,974  34,101  34,737  35,864  36,499 
S&P500 (^GSPC): Daily  4,523  4,530  4,542  4,549  4,562 
Weekly  4,466  4,501  4,540  4,575  4,613 
Monthly  4,231  4,383  4,481  4,634  4,731 
Nasdaq (^IXIC): Daily  13,919  13,976  14,077  14,134  14,236 
Weekly  13,741  13,887  14,167  14,313  14,593 
Monthly  12,826  13,429  13,938  14,541  15,050 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 180 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ATVI, AMD, ATSG, AKAM, ALB, ALKS, AYX, AMED, AMWD, ABC, AMN, AR, AON, ADM, AWI, AIZ, AGO, ATO, AVA, AXS, BMI, BALL, BZH, BIO, BOOT, BAH, BCO, BG, CX, CNC, CENX, CNX, CGNX, CTSH, ED, COP, CXW, CMI, CW, DHR, ^DJU, DRQ, DTE, DUK, EMN, EBAY, EIX, EPAM, EFX, EQT, EL, EXPI, EZPW, FCX, FDP, GPS, IT, GNW, GFS, GPRO, GGG, GES, HBI, THG, HLIT, HAYN, HQY, HELE, HOLX, HWM, JBHT, IBP, IPG, IPI, KBH, KELYA, KMT, KLAC, LAMR, LEG, LNC, LOW, LPLA, LXU, M, MAN, MRO, MGEE, MU, MLKN, ^IXIC, NFLX, NEE, NOVT, OMC, OR, OXM, PKG, PATK, PDCO, PETS, PLXS, PEG, RL, RJF, RHI, ROP, SBH, SIGI, SMTC, SCI, STR, SKX, SWN, SCS, SRDX, TDOC, TDG, UNM, VC, WRB, WLK, WSM, WOLF, WWD, IYC, IDU, FDN, QTEC, FXL, BOTZ, QQQ, ICF, IAT, IXN, ILF, SOXX, SLV, IHI, EWO, ECH, EEM, EIS, EWJ, EWY, EWD, THD, QLD, PPA, PJP, PHO, ROBO, XLY, GLD, XHB, XLU, USO, SMH, VIS. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Homebuilding1. Homebuilding
2. Semiconductor2. Semiconductor
3. E-Commerce3. E-Commerce
4. Computer Software and Svcs4. Computer Software and Svcs
5. Cement and Aggregates5. Cement and Aggregates
6. Air Transport6. Internet
7. Retail Building Supply7. Semiconductor Cap Equip.
8. Internet8. Air Transport
9. Trucking/Transp. Leasing9. Retail Building Supply
10. Semiconductor Cap Equip.10. Advertising
Best Performing AboveWorst Performing Below
50. Furn/Home Furnishings50. Toiletries/Cosmetics
51. Electric Utility (East)51. Electric Utility (East)
52. Medical Services52. Medical Services
53. Securities Brokerage53. Insurance (Prop/Casualty)
54. Natural Gas (Distributor)54. Petroleum (Producing)
55. Petroleum (Producing)55. Short ETFs
56. Toiletries/Cosmetics56. Natural Gas (Distributor)
57. Petroleum (Integrated)57. Petroleum (Integrated)
58. Telecom. Equipment58. Telecom. Equipment
59. Short ETFs59. Securities Brokerage
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 7/21/23. Pattern Trading Setups for the Weekend.

Consider tax loss harvesting now. The markets are high and if you have a stock/ETF/mutualfund losing money, it might be the time to sell. You have to wait MORE than 30 days before you buy back the same or similar shares otherwise the tax loss will be disallowed (but it raises the cost basis for the next time you sell, so the deduction isn't lost, just postponed). When the markets drop in September (weakest month of the year or October, you'll have the cash available.

You could sell now and buy back a security that isn't similar. What's that mean? The government doesn't say, but doing something like selling a stock and buying a diversified ETF or mutual fund will work. By diversified, I mean a fund that has more than one security in it. Making a switch from an ETF to another ETF, especially if they both have the same benchmark (like the Nasdaq) is high risk of triggering the wash sale rule and may or may not cause a problem. If you do that, make sure you choose a different fund company (such as moving from iShares to Vanguard). It's best to make a move like selling the QQQs (which follows the Nasdaq) and buying SMH (semiconductors). In other words, change industries on the benchmark.

$ $ $

Here's a symbol list of 168 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AMD, ALB, ALKS, ALL, AYX, ANIK, AMAT, ADM, ASH, ATO, AVY, AVA, AXS, AZTA, BMI, BCPC, BAX, BZH, BIIB, BSX, BMY, BG, CBT, CACI, CX, CENX, CHS, CINF, CNO, CNX, CMTL, GLW, COST, CRH, CROX, ^DJU, ^DJI, DRQ, EMN, EIX, EL, EVH, FICO, FARO, FAST, FDX, FLEX, FTNT, FCX, GPS, GNW, GFS, GL, GGG, GES, HBI, HAYN, HQY, DHI, HOV, IEX, ITW, INCY, INFN, IBP, IIIN, PODD, IPAR, IBKR, ISRG, NVTA, JAZZ, JNJ, KBH, KELYA, KLAC, KLIC, LHX, LZB, LEG, LEN, RAMP, LXU, MHO, MDC, MU, MYGN, ORI, OMCL, ORCL, OR, OUT, PKG, PETS, PPG, PEG, PHM, QTWO, RL, RMBS, RGLD, SCHW, SIGI, SCI, SKX, SCCO, SPSC, SUM, SRDX, SNPS, TRGP, TECH, TDOC, TDC, TER, TSCO, RIG, UGI, VLO, VEEV, WSC, ZBRA, ITA, ITB, IEZ, IHE, IDU, DDM, BOTZ, ILF, SOXX, SLV, IHI, EWK, EWC, EWH, EWS, EWY, EWT, PBE, XLP, GLD, XHB, XLU, UNG, SMH. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

You can find setups based on a Fibonacci retrace by clicking on the link.

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ABMDouble Bottom, Adam and Adam      06/23/202307/07/2023Industrial Services
ADouble Bottom, Adam and Adam      06/28/202307/06/2023Precision Instrument
AADiamond bottom      04/25/202305/19/2023Aerospace/Defense
ALKSPipe bottom      07/03/202307/10/2023Drug
AYXTriple top      06/16/202307/12/2023Computer Software and Svcs
ATRTriple bottom      05/31/202307/06/2023Packaging and Container
ANETPipe bottom      06/20/202306/26/2023E-Commerce
ADSKDouble Bottom, Eve and Adam      06/26/202307/06/2023Computer Software and Svcs
BATriangle, symmetrical      06/06/202307/20/2023Aerospace/Defense
CXPipe bottom      07/03/202307/10/2023Cement and Aggregates
CNCDouble Bottom, Adam and Adam      06/14/202307/13/2023Medical Services
CMTLDouble Bottom, Adam and Adam      07/07/202307/14/2023Telecom. Equipment
EDHead-and-shoulders complex bottom      06/07/202307/18/2023Electric Utility (East)
GLWDouble Top, Adam and Adam      06/16/202307/13/2023Telecom. Equipment
DVNDouble Bottom, Eve and Adam      06/23/202307/06/2023Natural Gas (Diversified)
^DJIDouble Bottom, Adam and Adam      06/26/202307/10/2023None
DTETriangle, ascending      06/29/202307/20/2023Electric Utility (Central)
EIXBroadening top, right-angled and ascending      06/20/202307/14/2023Electric Utility (West)
WIREDouble Top, Eve and Eve      06/12/202306/29/2023Metals and Mining (Div.)
EFXBroadening top, right-angled and ascending      06/13/202307/19/2023Information Services
EGPipe bottom      06/26/202307/03/2023Insurance (Prop/Casualty)
EVHHead-and-shoulders bottom      05/31/202307/13/2023Healthcare Information
FASTDouble Top, Adam and Eve      06/30/202307/12/2023Retail Building Supply
FLEXRising wedge      06/20/202307/19/2023Electronics
FCXBroadening top      06/13/202307/13/2023Metals and Mining (Div.)
HETriple bottom      06/23/202307/06/2023Electric Utility (West)
HAYNTriangle, symmetrical      06/14/202307/18/2023Building Materials
NSPFalling wedge      06/22/202307/14/2023Human Resources
IPGDouble Top, Eve and Adam      06/14/202307/18/2023Advertising
KELYADouble Bottom, Adam and Adam      06/23/202307/06/2023Human Resources
KLACBroadening top      06/13/202307/20/2023Semiconductor Cap Equip.
LZBBroadening bottom      05/01/202307/12/2023Furn/Home Furnishings
MGEEUgly double bottom      06/01/202306/23/2023Electric Utility (Central)
MSDouble Bottom, Adam and Eve      06/23/202307/07/2023Securities Brokerage
NFGHead-and-shoulders bottom      06/23/202307/17/2023Natural Gas (Diversified)
NEEDouble Bottom, Adam and Adam      07/11/202307/18/2023Electric Utility (East)
OMCBroadening top      06/12/202307/18/2023Advertising
OUTRising wedge      06/16/202307/19/2023Advertising
PKGDouble Bottom, Adam and Adam      06/28/202307/06/2023Packaging and Container
PFEHead-and-shoulders bottom      06/29/202307/17/2023Drug
PORBroadening top, right-angled and descending      06/27/202307/18/2023Electric Utility (West)
RMBSDouble Top, Eve and Eve      06/30/202307/14/2023Semiconductor Cap Equip.
REGNDouble Bottom, Adam and Adam      06/28/202307/10/2023Biotechnology
SMGHead-and-shoulders bottom      06/09/202307/06/2023Chemical (Basic)
SLGNTriangle, ascending      05/19/202307/20/2023Packaging and Container
SCSTriangle, symmetrical      06/22/202307/20/2023Furn/Home Furnishings
SRDXPipe bottom      07/03/202307/10/2023Medical Supplies
TGTBroadening top, right-angled and descending      06/26/202307/20/2023Retail Store
TFXDouble Bottom, Eve and Adam      06/29/202307/07/2023Diversified Co.
UNHPipe bottom      06/12/202306/20/2023Medical Services
VECOBroadening top      06/13/202307/17/2023Precision Instrument
WSMUgly double bottom      05/26/202306/23/2023Retail (Special Lines)

 

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Thursday 7/20/23. Ethereum ETH-USD

The Nasdaq climbed by 0.0% or 4.38 points. Since 02/05/1971 the Nasdaq made 705 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.9% on 402 occasions.
     Average loss was -0.9% on 303 occasions.
Expect the Nasdaq to close higher 57.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 261/459 or 56.9% of the time.
     The prediction of the Nasdaq closing lower has been right 72/152 or 47.4% of the time.

Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.

Picture of the ETH-USD.

$ $ $

I show a picture of Ethereum (ETH-USD) on the daily scale.

BC is a chart pattern called an ugly double bottom. That's when the second bottom (C) is well above the price of the first bottom (B).

If confirms at D when the currency closes above the blue line.

I drew two lines parallel, A and C, showing how the currency is marching upward. We should see it bounce off the lower line and rise to the top one. Of course, that might not happen. If we see it punch through the lower line, then it could drop all the way down to about the price of B.

$ $ $

Here's a symbol list of 151 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACN, ADTN, AMD, AES, A, ALKS, ALGT, AXP, ABC, AIZ, ATO, AVY, AVA, AXS, AZTA, BMI, BALL, BIG, BMRN, CX, CENX, CHKP, CHS, CI, CLNE, CLF, CNX, CXW, DHR, DSGR, ^DJI, DTE, ELV, EZPW, FIS, FTNT, FWRD, GME, GFS, HQY, HSIC, HOV, HUBG, JBHT, ITW, IPAR, IPG, INTU, ISRG, JAZZ, JBLU, JNJ, KBH, LAMR, RAMP, LMT, LOW, MHO, MRO, MCHX, MU, NFG, NFLX, NWL, NEU, OLN, OMCL, ASGN, ON, OTEX, ORCL, OR, PKG, PKE, PTEN, PEN, PETS, PLXS, PPG, QCOM, DGX, REGN, RHI, SLB, SRE, SLGN, LUV, SWN, SPLK, SPSC, SCS, SUM, SRDX, SNPS, TRGP, TDOC, TDC, TER, TEVA, TMO, RIG, TREX, VEEV, MDRX, WAT, WU, WSM, WDAY, IYK, DDM, BOTZ, ICF, IHF, SOXX, EWO, EWK, EWC, EIS, THD, EWU, DBA, PEJ, SSO, XLP, XRT, SPY, XAR, SMH, VHT. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  13,034.71    
 Weekly S2  13,411.09  376.39   
 Monthly S1  13,696.36  285.27   
 Weekly S1  13,884.56  188.19   
 Monthly Pivot  13,964.24  79.68   
 Weekly Pivot  14,058.33  94.10   
 Daily S2  14,244.43  186.09   
 Daily S1  14,301.22  56.80   
 Low  14,317.09  15.87   
 Close  14,358.02  40.93   
 61.8% Down from Intraday High  14,366.54  8.52   Yes! The 61.8% Down from Intraday High is close to the Close.
 Daily Pivot  14,373.89  7.34   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  14,381.82  7.93   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  14,397.10  15.28   
 Open  14,398.53  1.43   Yes! The Open is close to the 38.2% Down from Intraday High.
 Daily R1  14,430.68  32.15   
 High  14,446.55  15.87   
 Daily R2  14,503.35  56.80   
 Weekly R1  14,531.80  28.45   
 Monthly R1  14,625.89  94.10   
 Weekly R2  14,705.57  79.68   
 Monthly R2  14,893.77  188.19   

Wednesday 7/19/23. A Look At Indicators

Picture of the chart pattern indicator

This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.

The Dow industrials climbed 366 points today (Tuesday), an indication of the strength of the upward move.

The CPI is bullish as the chart shows with a green vertical bar on the far right of the chart. Notice that you don't see neutral (white) bars to the right of the green one (yet). So that means the run is still coasting upward.

Does all of this suggest the uptrend will end soon?

Picture of the percent down indicators

The red line is the percentage of stocks at least 20% below their 1-year high (plotted upside down). The blue line is the average percentage drop of stocks below their 1-year high (plotted upside down).

Shown as a red line on the above chart...
On Tuesday, 31% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 33%.
The fewest was 31% on 07/18/2023.
And the most was 77% on 09/26/2022.
Shown as a blue line on the above chart...
The 523 stocks in my database are down an average of 15% from their yearly high.
A week ago, the average was 16%.
The peak was 15% on 07/18/2023.
And the bottom was 34% on 09/30/2022.

The green line shows the longer-term uptrend in the indicator. I believe it continues to show strength. Both lines show improvement from the reading taken a week ago.

Both charts are bullish, suggesting either a nasty bearish surprise is coming or the bull run remains intact. I'm hoping the upward run continues.

$ $ $

Here's a symbol list of 129 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, ACN, ADTN, AFL, ATSG, ALKS, ALGT, AYX, AEO, AXP, ASH, ATO, AVA, AXS, BSET, BERY, BOOT, BSX, CX, CENX, CF, CHS, CSCO, CLNE, CNX, CMCO, COST, COTY, CMI, CW, DFS, D, EXPD, EZPW, FDS, FARO, FWRD, GD, GL, GOOGL, GPRO, GFF, HLIT, HAYN, HQY, HTLD, HL, HSY, HUN, ITW, INFN, ITGR, IBKR, ISRG, JBLU, KBH, LZB, LLY, LMT, MHO, MKTX, MLM, MDC, MDT, MU, MS, MYGN, NBR, NCR, JWN, NOC, OLN, OMCL, PKG, RRC, RTX, RGA, RLI, RCKY, ROST, R, SAIA, SCHW, STR, LUV, SWN, SPLK, SCS, SRDX, TDOC, TDG, TRV, TZOO, TREX, TWLO, UNH, WAT, WERN, WSM, WWW, WWD, IAI, IHE, DDM, IHF, IXN, IEO, EIS, EZA, THD, XLP, XLF, GLD, XLI, XRT, SPY, XLK, VIS. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

-- Thomas Bulkowski

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Tuesday 7/18/23. Slider Trading Quiz!

The Dow climbed by 0.2% or 76.32 points. Since 10/01/1928 the Dow made 1362 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 741 occasions.
     Average loss was -0.5% on 621 occasions.
Expect the Dow to close higher 54.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 266/483 or 55.1% of the time.
     The prediction of the Dow closing lower has been right 51/108 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring Valero Energy: VLO stock.

$ $ $

Here's a symbol list of 120 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, ACN, ACIW, ATVI, ADBE, A, APD, ALK, AMGN, AAPL, ACGL, ANET, AIZ, AVY, BOOT, BCO, BMY, CX, CNP, CENX, CDAY, CNO, CMTL, CCRN, DDS, DSGR, ^DJT, ^DJI, BOOM, EQT, EL, EG, FDS, FICO, FARO, FIS, FISV, FORM, FTV, FCX, GMS, GOOGL, GPRO, HP, HSIC, HOLX, HURC, INFN, JKHY, LRCX, LPLA, MAN, MAS, MU, NFG, NEWR, ORI, OLN, OMC, PANW, PTEN, PFE, PFG, PSTG, QCOM, RJF, RGS, ROK, RES, SEIC, SMTC, SKX, SO, SCS, TPR, TGT, TFX, TPX, TDC, TXN, TSCO, TRV, UIS, VECO, VMC, WRB, WERN, WWW, WDAY, XEL, IYM, DDM, FDN, QTEC, FXL, IYZ, IXN, EWK, EWQ, EZA, EWY, THD, TUR, EWU, DBA, PBE, SSO, SPY, XLK. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  33,280.70    
 Weekly S2  33,407.85  127.15   
 Monthly S1  33,933.03  525.18   
 Weekly S1  33,996.60  63.57   
 Monthly Pivot  34,262.64  266.04   
 Weekly Pivot  34,294.43  31.79   
 Daily S2  34,309.98  15.55   Yes! The Daily S2 is close to the Weekly Pivot.
 Low  34,418.72  108.74   
 Daily S1  34,447.66  28.95   
 Open  34,499.74  52.07   
 61.8% Down from Intraday High  34,512.86  13.12   Yes! The 61.8% Down from Intraday High is close to the Open.
 50% Down from Intraday High  34,541.93  29.08   
 Daily Pivot  34,556.41  14.47   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  34,571.02  14.61   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  34,585.35  14.34   Yes! The Close is close to the 38.2% Down from Intraday High.
 High  34,665.15  79.80   
 Daily R1  34,694.09  28.95   
 Daily R2  34,802.84  108.74   
 Weekly R1  34,883.18  80.34   
 Monthly R1  34,914.96  31.79   
 Weekly R2  35,181.01  266.05   
 Monthly R2  35,244.58  63.57   

Monday 7/17/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow transports on the daily scale.

AB is a double bottom. However, if you include D, then you can interpret it as a head-and-shoulders bottom chart pattern.

Either way is fine but you get a slightly taller measure rule prediction with the double bottom. What does that mean? I use the height of the pattern to help predict a target price. That way, I can assign probabilities of how often price will reach the target.

Price reaches the target 73% of the time for an Adam & Adam double bottom, for example.

In this case, we see that the BC height added to C gives us E. So if we were able to buy an ETF related to the transports, we could buy at C and exit at our E target. It would have worked wonderfully this time.

$ $ $

I added Lessons to broadening bottoms. I plan to add this section to other chart patterns, too. I think it'll help you better decide which patterns to trade and which to avoid.

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A Brief Look Back

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Up 209.52 points.
Tuesday: Up 317.02 points.
Wednesday: Up 86.01 points.
Thursday: Up 47.71 points.
Friday: Up 113.89 points.

For the Week...

The Dow industrials were up 774.15 points or 2.3%.
The Nasdaq composite was up 452.98 points or 3.3%.
The S&P 500 index was up 106.47 points or 2.4%.

Year to Date...

Dow Industrials
     0.2% down from the high of 34,592.26 on 07/14/2023.
     9.8% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     0.8% down from the high of 14,232.11 on 07/14/2023.
     37.5% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     0.5% down from the high of 4,527.76 on 07/14/2023.
     18.7% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

Many options expire this week, so traders will be looking to close out their positions, and that suggests increased volatility (large daily price swings).

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  34,342  34,425  34,509  34,592  34,676 
Weekly  33,382  33,946  34,269  34,832  35,156 
Monthly  33,255  33,882  34,237  34,864  35,219 
S&P500 (^GSPC): Daily  4,483  4,494  4,511  4,522  4,539 
Weekly  4,337  4,421  4,474  4,559  4,612 
Monthly  4,222  4,364  4,446  4,587  4,669 
Nasdaq (^IXIC): Daily  13,992  14,053  14,143  14,203  14,293 
Weekly  13,330  13,722  13,977  14,369  14,624 
Monthly  12,953  13,533  13,883  14,463  14,812 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 155 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AFL, ALGT, ALL, AYX, AMED, AFG, AIG, AR, ADM, AIZ, AGO, AVY, AVNT, BSET, BOOT, BAH, BSX, BFH, BMY, CLS, CNP, CHKP, CVX, CHS, CINF, CLNE, CNX, CSGP, CCK, DVN, FANG, DFS, DSGR, ^DJT, ^DJI, DUK, ECL, EIX, EFX, EG, FAST, FDX, FIS, FE, FLS, FTNT, FNV, FCX, IT, GNW, GS, GPRO, GFF, THG, HIG, HL, HSIC, DHI, IEX, IRM, KLIC, LEN, LLY, L, LOW, LPLA, MKTX, MTRX, MSFT, MOS, MUR, NFG, NFLX, NOVT, OLN, OTEX, OXM, PKG, PKE, PDCO, PAYX, PLXS, POR, PRU, PHM, RL, RJF, RNG, SAND, SCHW, SCI, SMAR, SWN, SCS, SSYS, SUM, TFX, TPX, TSCO, TRV, UHAL, UGI, UNM, VC, WAT, WLK, IYM, IAI, IYE, IAT, IYZ, IEV, IXC, IXN, SOXX, SLV, IEO, IYF, EWA, EWO, EWC, EWQ, EWM, EWY, EWP, EWU, DBA, PEJ, PXJ, ROBO, XLP, XLE, XLF, XLB, XAR, XLK, SMH, VIS. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Homebuilding1. Semiconductor
2. Semiconductor2. Homebuilding
3. E-Commerce3. E-Commerce
4. Computer Software and Svcs4. Computer Software and Svcs
5. Cement and Aggregates5. Semiconductor Cap Equip.
6. Internet6. Cement and Aggregates
7. Semiconductor Cap Equip.7. Air Transport
8. Air Transport8. Internet
9. Retail Building Supply9. Retail Building Supply
10. Advertising10. Trucking/Transp. Leasing
Best Performing AboveWorst Performing Below
50. Toiletries/Cosmetics50. Insurance (Prop/Casualty)
51. Electric Utility (East)51. Telecom. Equipment
52. Medical Services52. Petroleum (Producing)
53. Insurance (Prop/Casualty)53. Securities Brokerage
54. Petroleum (Producing)54. Electric Utility (East)
55. Short ETFs55. Natural Gas (Distributor)
56. Natural Gas (Distributor)56. Petroleum (Integrated)
57. Petroleum (Integrated)57. Medical Services
58. Telecom. Equipment58. Toiletries/Cosmetics
59. Securities Brokerage59. Short ETFs
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 7/14/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 183 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ALGT, AYX, AMZN, AEE, AFG, AR, ANET, AXS, BMI, BKNG, BOOT, BFH, BLDR, BG, CPB, CNC, CNP, CF, CVX, CNO, CNX, CGNX, COP, CXW, CRH, CTS, DDS, DSGR, ^DJU, ^DJT, DRQ, DTE, DUK, BOOM, ECL, EIX, EFX, EG, EXPI, FAST, FDX, FISV, FLS, FORM, FCX, FRD, IT, GNW, GL, GOOGL, GPRO, THG, HQY, HL, HP, HNI, HD, DHI, INFN, INTU, NVTA, IRM, JNJ, KLAC, KLIC, LRCX, LAMR, RAMP, LOW, MHO, M, MGY, MRO, MTRX, MDT, MRK, META, ^IXIC, NCR, NWPX, NVDA, PKG, PKE, PTEN, PAYX, POR, PG, QCOM, RMBS, RNG, ^GSPC, SBH, SAND, SEIC, SIGI, SCI, SHOP, SKX, SCCO, SCS, SSYS, SRDX, SNPS, TPX, TER, TTD, TSCO, TZOO, UGI, UIS, VECO, VC, WU, WLK, IYE, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, IEV, MXI, IXN, SOXX, SLV, EWA, EWO, EWK, EWC, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, EWU, QLD, PBE, PJP, ROBO, XLE, XRT, XLK, UNG, USO, SMH, MGK, VONG. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

You can find setups based on a Fibonacci retrace by clicking on the link.

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ACIWPipe bottom      06/20/202306/26/2023IT Services
AYITriple bottom      06/23/202307/06/2023Furn/Home Furnishings
ADTNTriangle, symmetrical      06/16/202307/10/2023Telecom. Equipment
ALRMPipe bottom      06/20/202306/26/2023Computer Software and Svcs
ALBThree Rising Valleys      05/02/202306/29/2023Chemical (Diversified)
AEPDouble Bottom, Eve and Adam      06/02/202306/29/2023Electric Utility (Central)
AMGNDouble Bottom, Adam and Adam      06/28/202307/07/2023Biotechnology
APAHead-and-shoulders bottom      05/04/202306/28/2023Petroleum (Producing)
BIOTriple bottom      05/11/202306/20/2023Medical Supplies
CBTDouble Bottom, Eve and Adam      06/23/202307/06/2023Chemical (Diversified)
CNPBroadening top      06/12/202307/05/2023Electric Utility (Central)
CFUgly double bottom      06/01/202306/27/2023Chemical (Basic)
CSCOTriangle, symmetrical      06/16/202307/11/2023Computers and Peripherals
CNATriangle, descending      06/08/202307/13/2023Insurance (Prop/Casualty)
CTSDouble Bottom, Adam and Adam      06/28/202307/10/2023Electronics
XRAYPipe bottom      05/22/202305/30/2023Medical Supplies
^DJTRounding bottom      02/02/202307/12/2023None
DOVUgly double bottom      06/01/202306/23/2023Machinery
DTEDouble Bottom, Adam and Adam      06/29/202307/10/2023Electric Utility (Central)
DUKTriple bottom      06/02/202307/10/2023Electric Utility (East)
EMNTriple bottom      03/24/202306/23/2023Chemical (Diversified)
EBAYTriangle, symmetrical      05/31/202307/10/2023Internet
EMRUgly double bottom      05/31/202307/06/2023Computers and Peripherals
EOGDouble Bottom, Eve and Eve      06/01/202306/23/2023Natural Gas (Distributor)
EZPWDouble Bottom, Adam and Adam      06/27/202307/06/2023Financial Services
FDSPipe top      06/12/202306/20/2023Information Services
FEHead-and-shoulders bottom      05/02/202306/29/2023Electric Utility (East)
GFSPipe bottom      06/20/202306/26/2023Semiconductor
GSDouble Bottom, Eve and Eve      06/27/202307/07/2023Securities Brokerage
GOOGLDouble Bottom, Adam and Adam      06/27/202307/11/2023Internet
GGGBroadening top      06/13/202307/06/2023Machinery
HTLDTriple top      06/07/202306/29/2023Trucking/Transp. Leasing
HSICUgly double bottom      05/31/202307/06/2023Medical Supplies
HURCBroadening bottom      05/15/202307/12/2023Machinery
ILMNDouble Bottom, Eve and Eve      06/28/202307/10/2023Biotechnology
JNJDiamond top      06/16/202307/03/2023Medical Supplies
KMTDouble Bottom, Adam and Adam      06/23/202307/06/2023Metal Fabricating
LHXUgly double bottom      05/31/202306/26/2023Aerospace/Defense
LZBUgly double bottom      06/21/202307/07/2023Furn/Home Furnishings
MRODouble Bottom, Eve and Adam      06/23/202307/06/2023Petroleum (Integrated)
MDTTriangle, symmetrical      05/03/202307/13/2023Medical Supplies
MRKTriple top      06/05/202306/30/2023Drug
MLKNScallop, ascending      06/07/202307/13/2023Furn/Home Furnishings
MURDouble Bottom, Adam and Adam      06/23/202307/06/2023Petroleum (Integrated)
NWLUgly double bottom      06/23/202307/05/2023Household Products
OLNDouble Bottom, Adam and Adam      06/01/202306/23/2023Chemical (Basic)
ONThree Rising Valleys      04/27/202306/23/2023Semiconductor
OTEXDouble Bottom, Eve and Eve      06/23/202307/07/2023E-Commerce
OUTPipe bottom      06/20/202306/26/2023Advertising
OXMPipe bottom      06/20/202306/26/2023Apparel
PTENUgly double bottom      05/31/202306/23/2023Oilfield Svcs/Equipment
QCOMDouble Bottom, Adam and Adam      06/23/202307/06/2023Telecom. Equipment
RLUgly double bottom      06/01/202306/27/2023Apparel
RGLDHead-and-shoulders bottom      06/21/202307/06/2023Metals and Mining (Div.)
CRMTriangle, symmetrical      05/31/202307/10/2023E-Commerce
SWXUgly double bottom      05/04/202306/23/2023Natural Gas (Distributor)
SSYSPipe bottom      06/20/202306/26/2023Electronics
TECHDouble Bottom, Adam and Adam      06/14/202306/28/2023Biotechnology
SLCADouble Bottom, Adam and Adam      06/23/202307/06/2023Metals and Mining (Div.)
VFCBroadening top, right-angled and descending      06/08/202307/12/2023Apparel
VCThree Rising Valleys      05/04/202306/26/2023Electronics
WUTriple bottom      05/31/202307/06/2023Financial Services
WPMBroadening bottom      06/21/202307/13/2023Metals and Mining (Div.)
ZBRAPipe bottom      06/20/202306/26/2023Computers and Peripherals

 

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Thursday 7/13/23. Intraday Market Direction: Nasdaq

The Nasdaq climbed by 1.2% or 158.26 points. Since 02/05/1971 the Nasdaq made 176 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 112 occasions.
     Average loss was -1.0% on 64 occasions.
Expect the Nasdaq to close higher 63.6% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 260/458 or 56.8% of the time.
     The prediction of the Nasdaq closing lower has been right 72/152 or 47.4% of the time.

Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

I show a picture of the Nasdaq composite on the 5-minute scale.

I drew a red support line connecting the valleys just to see how they line up.

This is one weird looking chart, isn't it? The holiday puts a whole in the chart and the indices have bounced around, too, adding to the presentation.

At AB, we see a potential double top. I write potential because the index has to drop below C before it confirms the double top. I was going to write that I don't see that happening but with the index bouncing around so much, anything can happen.

The position of C on the chart also denotes a support area, so if the index drops to that area, I would expect it to stall there. Let's wait and see what happens. I went grocery shopping this morning, so I have my supply of popcorn handy while I wait. Smiley

$ $ $

Here's a symbol list of 312 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, AXDX, ACIW, AES, A, APD, ATSG, ALRM, AA, AYX, AEE, AXP, AFG, AMN, AR, AON, APOG, AMAT, ATR, ADM, ASH, AGO, ATO, ADSK, AVY, AXS, BMI, BSET, BERY, BIO, BA, BOOT, BAH, BRC, BFH, BMY, BRKR, BBW, BLDR, BG, CBT, CPB, CE, CLS, CNP, CDAY, CVX, CHS, CIEN, CLF, CNX, CGNX, ED, COP, CXW, CR, CRH, CROX, CCK, CMI, CW, XRAY, DDS, DFS, ^DJT, ^DJI, DRQ, DTE, DUK, EMN, ELV, EFX, EG, EVH, EXPI, FFIV, FAST, FDX, FLS, FORM, FNV, GPS, IT, GNW, GFS, GL, GPRO, THG, HLIT, HE, HAYN, HQY, HL, HSII, HNI, HD, DHI, HWM, HUBG, HUM, HUN, HURC, IEX, ITW, INCY, INFN, NSP, IBP, IIIN, IBKR, TILE, INTU, NVTA, JAZZ, KALU, KBH, KFRC, KLAC, LZB, LRCX, LAMR, LEN, LNC, LXU, MHO, MTSI, M, MAN, MRO, MAS, MA, MTRN, MTRX, MDC, MRK, MLKN, MCO, MS, MOS, MLI, MUR, MYGN, NBR, NOV, NCR, NTAP, NEE, NXGN, JWN, NOC, NTNX, NVDA, OXY, ORI, OMC, OUT, OXM, PKG, PANW, PKE, PATK, PDCO, PRFT, PLXS, POR, PPL, PHM, PSTG, QTWO, RMBS, RTX, RNG, RHI, ROG, ROST, RGLD, SLB, SIGI, SRE, SMTC, SCI, SHOP, SLGN, SCCO, SR, SPLK, SPSC, SCS, TPR, TPX, TDC, TER, TXN, TJX, TSCO, RIG, TZOO, TG, UHAL, UIS, UNH, VFC, VEEV, V, VC, VMC, WU, WLK, WMB, WSM, WSC, ITA, IYM, IAI, IYC, IYE, ITB, DDM, BOTZ, ICF, IYH, IHF, IAT, IEV, IXC, MXI, IXN, ILF, SOXX, SLV, IGE, IEO, IYF, IHI, EWA, EWO, EWK, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EWM, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, THD, EWU, IBB, DBA, PBE, PEJ, PJP, PHO, ROBO, XLY, XLE, XLF, GLD, XLV, XHB, XRT, XLK, USO, SMH, VHT, VAW. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  12,852.91    
 Monthly S1  13,385.94  533.02   
 Weekly S2  13,499.65  113.72   
 Monthly Pivot  13,622.50  122.85   
 Weekly S1  13,709.31  86.80   
 Weekly Pivot  13,776.90  67.60   
 Daily S2  13,786.86  9.96   Yes! The Daily S2 is close to the Weekly Pivot.
 Low  13,842.13  55.27   
 Daily S1  13,852.91  10.78   Yes! The Daily S1 is close to the Low.
 61.8% Down from Intraday High  13,888.47  35.56   
 50% Down from Intraday High  13,902.79  14.32   
 Daily Pivot  13,908.18  5.39   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Open  13,915.64  7.46   Yes! The Open is close to the Daily Pivot.
 38.2% Down from Intraday High  13,917.11  1.47   Yes! The 38.2% Down from Intraday High is close to the Open.
 Close  13,918.96  1.85   Yes! The Close is close to the 38.2% Down from Intraday High.
 High  13,963.45  44.49   
 Daily R1  13,974.23  10.78   Yes! The Daily R1 is close to the High.
 Weekly R1  13,986.56  12.33   
 Daily R2  14,029.50  42.94   
 Weekly R2  14,054.15  24.65   
 Monthly R1  14,155.53  101.37   
 Monthly R2  14,392.09  236.57   

Wednesday 7/12/23. A Look At Indicators

Picture of the chart pattern indicator

This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.

The most recent signal is bullish as the vertical green bar on the far right of the chart shows.

It suggests that the uptrend will continue. Interpolating the chart says that the signal is at 90 out of 100. So there's room for growth. If it were pegged at 100, chances are that the CPI would reverse (it couldn't go higher). That would suggest a downturn was coming.

Picture of the percent down indicators

The red line is the percentage of stocks at least 20% below their 1-year high (plotted upside down). The blue line is the average percentage drop of stocks below their 1-year high (plotted upside down).

Shown as a red line on the above chart...
On Tuesday, 33% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 35%.
The fewest was 31% on 02/02/2023.
And the most was 77% on 09/26/2022.
Shown as a blue line on the above chart...
The 523 stocks in my database are down an average of 16% from their yearly high.
A week ago, the average was 16%.
The peak was 16% on 07/11/2023.
And the bottom was 34% on 09/30/2022.

The red line this week shows improvement when compared to where it was a week ago.

It continues a stair-step type rise since the September low. However, this chart shows the red line matching where it was at the June peak. Does this mean it's hitting overhead resistance?

Answer: I don't know. Based on what I see in the rest of the chart (that is, the horizontal to up move from May to June) suggests we can see another move higher.

So this week, both charts are bullish. I see the indices climbing to new highs.

$ $ $

Here's a symbol list of 188 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, ACN, AYI, AEIS, A, AEO, AMWD, ANIK, APOG, AAPL, BMI, BSET, BA, BKNG, BOOT, BFH, BMY, CLS, CVX, CHS, CSCO, CNA, CNX, CGNX, CL, COP, GLW, CMI, DVN, FANG, DFS, DSGR, D, DOV, DRQ, EBAY, EME, WIRE, EFX, EG, EVH, FDS, FLS, FORM, GME, GPS, GES, HLIT, HIG, HELE, HSIC, HOLX, HURC, ITW, INFN, JAZZ, JNJ, KBH, KMT, KEYS, KLAC, LRCX, LAMR, LMT, LOW, MHO, M, MANH, MRO, MLM, MTDR, MTRX, MDC, MRK, META, MLKN, MUR, NTAP, NWL, NWPX, NOVT, ORI, OTEX, PKE, PATK, PTEN, PETS, PXD, PINC, RMBS, REGN, RNG, RHI, ROK, CRM, SLB, SCHW, SMG, SMTC, SHW, STR, SMAR, SWX, SCS, TPR, TDOC, TDY, TMO, TKR, TJX, TOL, TRV, TZOO, TREX, UIS, VECO, VEEV, VC, WRB, WERN, WLK, WEX, WSM, WSC, WWW, ITA, IYC, IYE, IEZ, DDM, FTEC, FDN, BOTZ, IHF, IEV, IXC, IGE, IEO, EWA, EWK, EWZ, ECH, EEM, EWQ, EWG, EWI, EWM, EWS, EWD, EWL, THD, IBB, PEJ, PXJ, XLY, XLE, XLF, GLD, XHB, XLI, XRT, SPY, VHT, VIS. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

-- Thomas Bulkowski

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Tuesday 7/11/23. Slider Trading Quiz!

The Dow climbed by 0.6% or 209.52 points. Since 10/01/1928 the Dow made 894 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 504 occasions.
     Average loss was -0.6% on 390 occasions.
Expect the Dow to close higher 56.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 265/482 or 55.0% of the time.
     The prediction of the Dow closing lower has been right 51/108 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring United Online: UNTD stock.

$ $ $

Here's a symbol list of 134 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, ALRM, ALKS, ALL, AMWD, APA, ADM, ANET, AVA, BMI, BCPC, BIIB, BA, BFH, BMY, BLDR, CDNS, CRL, CHS, CNX, CGNX, CROX, CMI, FANG, DSGR, ^DJI, DRQ, EMR, EPAM, EFX, EVH, EXPI, FICO, FARO, FIS, FMC, GE, GIS, GFS, GOOGL, GES, HE, HELE, HD, PODD, IRM, JNJ, KBH, KELYA, LZB, LAMR, LANC, M, MRO, MCHX, MA, MTDR, MTRX, MDC, MLKN, MUR, NFG, NEE, NWPX, NOVT, NVDA, OUT, OXM, PATK, PDCO, PTEN, PGR, DGX, RGS, RNG, RLI, RHI, SCHW, SMG, SIGI, SRE, SWX, SSYS, TFX, TPX, TKR, TJX, TSCO, SLCA, VEEV, MDRX, WRB, WEX, WPM, WSM, ZBRA, ITA, IAI, IYE, IHE, BOTZ, ICF, IYH, IGV, IXC, IGE, IEO, EWA, ECH, EPP, EZA, EWY, TUR, EWU, IBB, PJP, XLE, XLF, XRT, VHT, VIS. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  32,788.60    
 Weekly S2  33,293.40  504.80   
 Monthly S1  33,366.50  73.10   
 Daily S2  33,616.80  250.30   
 Weekly S1  33,618.90  2.10   Yes! The Weekly S1 is close to the Daily S2.
 Low  33,705.68  86.78   
 Open  33,705.68  0.00   Yes! The Open is close to the Low.
 Daily S1  33,780.60  74.92   
 61.8% Down from Intraday High  33,802.20  21.60   Yes! The 61.8% Down from Intraday High is close to the Daily S1.
 50% Down from Intraday High  33,832.02  29.82   
 38.2% Down from Intraday High  33,861.84  29.82   
 Daily Pivot  33,869.48  7.64   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  33,944.40  74.92   
 High  33,958.36  13.96   Yes! The High is close to the Close.
 Monthly Pivot  33,977.59  19.23   Yes! The Monthly Pivot is close to the High.
 Daily R1  34,033.28  55.69   
 Weekly Pivot  34,042.25  8.97   Yes! The Weekly Pivot is close to the Daily R1.
 Daily R2  34,122.16  79.91   
 Weekly R1  34,367.75  245.59   
 Monthly R1  34,555.49  187.74   
 Weekly R2  34,791.10  235.61   
 Monthly R2  35,166.58  375.48   

Monday 7/10/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

This is a chart of the Dow utilities on the daily scale.

The red line represents support. Notice how several valleys come near the line and rebound upward.

At AB, we see a potential double top. It won't become a valid double top until the index closes below C.

I'm not sure that's going to happen. I suspect that we'll see the index turn upward and eventually rise above A.

I suppose that since the index is already dropping toward C, that we could see it bounce off the red line another time before staging an upward run.

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A Brief Look Back

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Up 10.87 points.
Wednesday: Down 129.83 points.
Thursday: Down 366.38 points.
Friday: Down 187.38 points.
Saturday: Holiday or other weird event!

For the Week...

The Dow industrials were down 672.72 points or 2.0%.
The Nasdaq composite was down 127.2 points or 0.9%.
The S&P 500 index was down 51.43 points or 1.2%.

Year to Date...

Dow Industrials
     2.5% down from the high of 34,588.68 on 06/16/2023.
     7.3% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     1.4% down from the high of 13,859.07 on 06/16/2023.
     33.1% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     1.3% down from the high of 4,458.48 on 06/30/2023.
     15.9% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  33,510  33,622  33,829  33,942  34,149 
Weekly  33,224  33,479  33,972  34,228  34,721 
Monthly  32,719  33,227  33,908  34,416  35,097 
S&P500 (^GSPC): Daily  4,369  4,384  4,412  4,427  4,455 
Weekly  4,342  4,371  4,413  4,442  4,485 
Monthly  4,175  4,287  4,373  4,485  4,570 
Nasdaq (^IXIC): Daily  13,560  13,610  13,707  13,758  13,855 
Weekly  13,414  13,537  13,691  13,814  13,968 
Monthly  12,767  13,214  13,536  13,983  14,306 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season will be starting in about 6 days.

Here's a symbol list of 159 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, AXDX, ACIW, ADTN, ATSG, ALRM, ALB, AA, ALKS, ADM, ANET, AVA, AXS, BMI, BALL, BECN, BIG, BA, BAH, BMY, CACI, CALM, CE, CLS, CNA, CGNX, CTSH, CMCO, CMTL, CRH, CROX, CCK, DVN, DDS, ^DJI, DRQ, EME, EOG, EFX, RE, EVRG, XOM, FIS, GME, GIS, GILD, GPN, GFS, GL, GES, HBI, HE, HSII, HSY, HOLX, HUM, HUN, ITGR, INTC, IPAR, IBKR, TILE, IPI, IRM, JAZZ, JNJ, KBH, LANC, RAMP, L, M, MGY, MRO, MDC, MRK, MU, MUR, NBR, NJR, NEU, NKE, NOVT, NUS, NVDA, OXY, OMC, OTEX, OUT, OXM, PATK, PDCO, PTEN, PXD, PINC, PSTG, RMBS, RTX, REGN, RNG, RHI, RCKY, RES, SMG, SMAR, LUV, SWX, SSYS, SRDX, TDOC, TDY, TER, TEVA, TXT, TKR, TJX, TZOO, TREX, MDRX, VC, WRB, WEX, ZBRA, IEZ, IHE, DDM, FXI, IYH, IHF, ILF, SLV, IEO, EWZ, ECH, EEM, EWQ, EWG, EWS, EWT, THD, IBB, PBE, PXJ, PJP, XLV, VHT. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Semiconductor1. Homebuilding
2. Homebuilding2. Semiconductor
3. E-Commerce3. Semiconductor Cap Equip.
4. Computer Software and Svcs4. Cement and Aggregates
5. Semiconductor Cap Equip.5. E-Commerce
6. Cement and Aggregates6. Internet
7. Air Transport7. Computer Software and Svcs
8. Internet8. Air Transport
9. Retail Building Supply9. Retail Building Supply
10. Trucking/Transp. Leasing10. Electronics
Best Performing AboveWorst Performing Below
50. Insurance (Prop/Casualty)50. Electric Utility (West)
51. Telecom. Equipment51. Insurance (Life)
52. Petroleum (Producing)52. Electric Utility (Central)
53. Securities Brokerage53. Natural Gas (Diversified)
54. Electric Utility (East)54. Petroleum (Integrated)
55. Natural Gas (Distributor)55. Natural Gas (Distributor)
56. Petroleum (Integrated)56. Petroleum (Producing)
57. Medical Services57. Electric Utility (East)
58. Toiletries/Cosmetics58. Medical Services
59. Short ETFs59. Short ETFs
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 7/7/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 227 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ABM, AXDX, ACN, ACIW, AEIS, AMD, ALRM, ALKS, AYX, ABC, AMN, ATR, ANET, AVNT, AXS, AZTA, BCPC, BBY, BIIB, BKH, BCO, BMY, BBW, CBT, CVX, CHD, CLNE, CLF, CGNX, CMCO, CRH, CROX, XRAY, FANG, DSGR, ^DJI, DOV, EXP, EOG, EFX, EXPI, FICO, FORM, FTNT, FTV, FCX, GME, GFS, GGG, GES, HBI, THG, HLIT, HAYN, HP, HOLX, DHI, IEX, ITW, INFN, IIIN, INTC, IPG, IRM, JAZZ, JNJ, KMT, KLIC, LZB, LANC, M, MRO, MLM, MAS, MTDR, MTRN, MDC, MDT, MU, MLI, MUR, MYGN, NTGR, NTAP, NEU, NEE, NXGN, NKE, NWPX, NOVT, OXY, OMC, ASGN, OUT, OMI, OXM, PKE, PATK, PETS, PFE, PXD, RNG, ROST, RGLD, SLB, SMG, SEE, SIGI, SRE, SCI, SHW, STR, SCCO, SWX, SSYS, SUM, TPR, TECH, TFX, TER, TEVA, TTD, TKR, UIS, VFC, WU, WLK, WPM, WMB, WWW, ZBRA, IYM, IYE, ITB, IHE, DDM, FTEC, QTEC, FXL, FXI, BOTZ, IHF, IAT, IEV, IGV, IXC, MXI, IXN, ILF, IGE, IEO, IHI, EWO, EWK, EWZ, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, EWU, IBB, PBE, PEJ, PJP, PHO, ROBO, XLV, XHB, XLI, XLB, XLK, UNG, VHT, VIS, VAW. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

You can find setups based on a Fibonacci retrace by clicking on the link.

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ALKSPipe top      06/20/202306/26/2023Drug
AEOUgly double bottom      05/25/202306/26/2023Apparel
AFGTriangle, symmetrical      05/19/202306/29/2023Insurance (Prop/Casualty)
ADMHead-and-shoulders bottom      05/18/202306/21/2023Food Processing
ADPTriangle, ascending      03/31/202307/06/2023IT Services
BSETUgly double bottom      06/01/202306/16/2023Furn/Home Furnishings
BMYDouble Top, Adam and Eve      06/05/202306/21/2023Drug
BBWTriangle, ascending      05/11/202307/06/2023Retail (Special Lines)
CROXPipe bottom      06/20/202306/26/2023Shoe
EPAMUgly double bottom      06/06/202306/22/2023IT Services
FDXPennant      06/28/202307/06/2023Air Transport
FNVPipe bottom      02/21/202302/27/2023Metals and Mining (Div.)
FRDBig W      06/01/202306/26/2023Building Materials
GPNDouble Bottom, Adam and Adam      05/31/202306/28/2023Computer Software and Svcs
IDXXMulti-peaks      01/11/202307/06/2023Drug
ITWUgly double bottom      06/01/202306/23/2023Metal Fabricating
IIINHead-and-shoulders top      05/23/202306/30/2023Building Materials
IRMPipe bottom      06/20/202306/26/2023Industrial Services
LANCPipe bottom      06/12/202306/20/2023Food Processing
MPipe bottom      06/20/202306/26/2023Retail Store
MTRXTriangle, symmetrical      03/06/202307/06/2023Oilfield Svcs/Equipment
MUPipe top      05/22/202305/30/2023Semiconductor
NOVUgly double bottom      05/31/202306/23/2023Oilfield Svcs/Equipment
NKEDouble Top, Eve and Eve      06/16/202306/29/2023Shoe
OMCDouble Top, Eve and Adam      06/14/202306/27/2023Advertising
OMIDouble Top, Adam and Eve      05/23/202306/07/2023Medical Supplies
PLXSUgly double bottom      05/04/202306/26/2023Electronics
RHIUgly double bottom      05/31/202306/23/2023Human Resources
SLBUgly double bottom      05/31/202306/23/2023Oilfield Svcs/Equipment
SMGPipe bottom      06/20/202306/26/2023Chemical (Basic)
TDOCDouble Top, Adam and Adam      06/07/202307/03/2023Healthcare Information
TXNBroadening top      05/30/202307/03/2023Semiconductor
WRBRising wedge      05/23/202307/06/2023Insurance (Prop/Casualty)
WMTDouble Bottom, Adam and Adam      06/21/202306/29/2023Retail Store
ZBRAThree Rising Valleys      05/02/202306/23/2023Computers and Peripherals

 

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Thursday 7/6/23. A Look at Cryptocurrency Bitcoin (BTC-USD)

The Nasdaq dropped by -0.2% or -25.12 points. Since 02/05/1971 the Nasdaq made 542 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 283 occasions.
     Average loss was -0.8% on 259 occasions.
Expect the Nasdaq to close higher 52.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 260/457 or 56.9% of the time.
     The prediction of the Nasdaq closing lower has been right 72/152 or 47.4% of the time.

Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

I show a picture of the cryptocurrency Bitcoin (BTC-USD) on the daily scale.

There's only one thing I want to mention about this chart and that's the potential of a pennant.

A flag (has parallel sides) or a pennant (unparallel sides) can appear midway through a move.

In this case, the pennant has to be perched atop a flagpole, which I show as the AB rise. If the pennant obeys the theory, the rise from the low at C should also be the same AB length.

How often does that work? In stocks, a move of 19% from A to B falls short on the C to (D, not shown) move by rising only 14%. So don't expect the full AB rise.

$ $ $

Here's a symbol list of 159 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, ACN, ACIW, ADBE, AMD, AES, ALRM, AA, ALKS, AEE, AXP, ATR, ADM, ANET, ATO, BCPC, BSET, BERY, BIIB, BMY, BBW, BG, CBT, CNP, CENX, CVX, CIEN, CGNX, COP, CROX, CCK, CW, FANG, ^DJU, D, DRQ, DTE, DUK, EIX, EOG, EFX, EXPI, FARO, FNV, FRD, GFS, HBI, HLIT, HAYN, HP, HURC, TILE, INTU, ISRG, IRM, JNJ, KELYA, LZB, LANC, LOW, MTSI, MRO, MAS, MTDR, MTRX, MDC, MS, NBR, NCR, NXGN, NKE, NOC, NWPX, NOVT, OXY, OTEX, ORCL, OR, OUT, OMI, OXM, PANW, PATK, PCTY, PXD, PPL, PEG, QCOM, RMBS, RGS, RNG, RHI, RGLD, RES, R, SLB, SMG, SMTC, SLGN, STR, SWX, SSYS, TEVA, TKR, TJX, SLCA, UIS, VFC, VMI, VEEV, MDRX, WAT, WEX, WPM, WMB, WOLF, WWW, ZBRA, IYE, ITB, IEZ, IDU, IAT, IXC, IGE, IEO, EWK, ECH, EWW, EZA, EWD, EWL, PXJ, XLU, UNG, VONG. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  12,330.82    
 Monthly S1  13,061.24  730.41   
 Weekly S2  13,165.32  104.09   
 Monthly Pivot  13,460.15  294.83   
 Weekly S1  13,478.49  18.33   
 Weekly Pivot  13,647.58  169.10   
 Daily S2  13,719.88  72.30   
 Daily S1  13,755.77  35.88   
 Low  13,764.25  8.48   
 Open  13,772.10  7.85   Yes! The Open is close to the Low.
 Close  13,791.65  19.55   
 61.8% Down from Intraday High  13,794.91  3.25   Yes! The 61.8% Down from Intraday High is close to the Close.
 Daily Pivot  13,800.13  5.23   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  13,804.38  4.24   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  13,813.84  9.47   
 Daily R1  13,836.02  22.17   
 High  13,844.50  8.48   
 Daily R2  13,880.38  35.88   
 Weekly R1  13,960.75  80.36   
 Weekly R2  14,129.84  169.10   
 Monthly R1  14,190.57  60.72   
 Monthly R2  14,589.48  398.92   

Wednesday 7/5/23. Market Forecast Update

The Dow climbed by 0.0% or 10.87 points. Since 10/01/1928 the Dow made 1362 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 736 occasions.
     Average loss was -0.6% on 626 occasions.
Expect the Dow to close higher 54.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 265/481 or 55.1% of the time.
     The prediction of the Dow closing lower has been right 51/108 or 47.2% of the time.

$ $ $

Here's the updated 2023 forecast, presented in slider format.

$ $ $

Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AKAM, AA, ALKS, ALGT, ALL, AXP, AMAT, ASH, AIZ, BRC, BRKR, BBW, CAL, CLS, CVX, CHS, CLNE, CNO, CGNX, CMTL, CXW, CROX, ^DJT, BOOM, EBAY, EFX, FDS, FDX, FIS, FCX, GD, GPN, GS, GFF, GES, HIG, HQY, HOLX, HON, HUBG, HUN, ITW, INTC, IBKR, IPI, NVTA, JNJ, KALU, KSS, LRCX, LANC, RAMP, L, M, MOS, MUR, NFG, NOV, NCR, NTGR, NJR, NXGN, NKE, JWN, NUS, OXY, OUT, PATK, PTEN, PGR, KWR, QCOM, DGX, RMBS, RTX, RGA, RNG, RCKY, ^GSPC, SAIA, SAND, SCHW, SMTC, SLGN, STR, SKX, SKYW, SWX, SCS, TPR, TGT, TDOC, TFX, TXT, TKR, TDG, TG, UNH, V, VC, WEX, ZBRA, ITA, IAI, IYC, IYE, ITB, IEZ, FXI, IAT, MXI, ILF, IEO, EWZ, EEM, EWI, EWM, EPP, EWY, THD, PEJ, PXJ, XLY, XLE, XRT. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Top

© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  32,019.72    
 Monthly S1  33,219.09  1,199.38   
 Weekly S2  33,308.35  89.26   
 Weekly S1  33,863.41  555.06   
 Monthly Pivot  33,903.89  40.48   
 Weekly Pivot  34,165.38  261.49   
 Daily S2  34,211.14  45.77   
 Low  34,286.54  75.39   
 Daily S1  34,314.80  28.27   
 61.8% Down from Intraday High  34,354.94  40.14   
 Open  34,369.78  14.84   Yes! The Open is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  34,376.07  6.29   Yes! The 50% Down from Intraday High is close to the Open.
 Daily Pivot  34,390.20  14.13   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  34,397.20  7.00   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  34,418.47  21.27   
 High  34,465.60  47.13   
 Daily R1  34,493.87  28.27   
 Daily R2  34,569.26  75.39   
 Weekly R1  34,720.44  151.18   
 Weekly R2  35,022.41  301.97   
 Monthly R1  35,103.26  80.85   
 Monthly R2  35,788.06  684.80   

Monday 7/3/23. Market Monday: The Week Ahead

My Prediction

Picture of the nasdaq on the daily scale.

Not much is going on in this picture of the Nasdaq on the daily scale.

The red line highlights support and resistance. On the left half of the chart, we see the index bumping up against overhead resistance. On the right side, it's too soon to see if the index will drop and find support at the line.

Beyond that, I'm expecting the indices to continue moving higher over the next two weeks. Fortunately, after I rebalanced most of my portfolios in the last week or two, I feel well positioned to take advantage of any new highs.

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A Brief Look Back

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Down 12.72 points.
Tuesday: Up 212.03 points.
Wednesday: Down 74.08 points.
Thursday: Up 269.76 points.
Friday: Up 285.18 points.

For the Week...

The Dow industrials were up 680.17 points or 2.0%.
The Nasdaq composite was up 295.4 points or 2.2%.
The S&P 500 index was up 102.05 points or 2.3%.

Year to Date...

Dow Industrials
     0.5% down from the high of 34,588.68 on 06/16/2023.
     9.5% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     0.5% down from the high of 13,859.07 on 06/16/2023.
     34.3% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     0.2% down from the high of 4,458.48 on 06/30/2023.
     17.3% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  34,184  34,296  34,382  34,493  34,579 
Weekly  33,305  33,856  34,162  34,713  35,019 
Monthly  32,016  33,212  33,900  35,096  35,784 
S&P500 (^GSPC): Daily  4,408  4,429  4,444  4,465  4,480 
Weekly  4,282  4,366  4,412  4,497  4,543 
Monthly  4,053  4,252  4,355  4,554  4,657 
Nasdaq (^IXIC): Daily  13,673  13,730  13,774  13,831  13,874 
Weekly  13,164  13,476  13,646  13,958  14,129 
Monthly  12,330  13,059  13,459  14,188  14,588 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 244 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AYI, AEIS, AJRD, A, ALRM, ALL, DOX, AMED, AEL, AXP, AFG, AMWD, APH, AR, AON, APOG, AAPL, AIZ, AXS, BMI, BSET, BZH, BBY, BIO, BCO, BR, CBT, CPB, CHKP, CVX, CHS, CHD, CTAS, CLNE, CGNX, CTSH, CMTL, CONN, COST, CR, CRH, CCRN, DVN, DFS, DOV, BOOM, EFX, XOM, EZPW, FDS, FICO, FAST, FDX, FISV, FLEX, FLS, FTNT, FTV, FWRD, FRD, IT, GD, GE, GFS, GMS, GPRO, GGG, GES, HIG, HON, HWM, IDXX, NSP, IIIN, INTC, IBKR, TILE, IPG, IPI, JAZZ, JNJ, KEYS, KLAC, KLIC, LZB, LANC, LXU, MTSI, MANH, MRTN, MAS, MA, MDC, MRK, MRCY, MCO, MUR, MYGN, ^IXIC, NCR, NTGR, NWL, NXGN, JWN, NOC, NOVT, OXY, OLN, ON, OTEX, ORCL, OR, PKE, PATK, PETS, PPG, PG, PRU, DGX, RGS, RGA, RNG, RHI, ROK, ROP, ROST, RGLD, ^GSPC, SAIA, SAND, SCHW, SIGI, NOW, STR, SWX, SR, SPLK, SXI, SNPS, TRGP, TGT, TFX, TDC, TER, TXN, TMO, TKR, TJX, RIG, TG, UIS, UNH, MDRX, VRSN, V, WU, WDAY, ZBRA, IYM, IYC, IYE, ITB, IEZ, IHE, IDU, DDM, FTEC, FDN, QTEC, FXL, QQQ, IYH, IAT, IYZ, IGV, IXC, IXN, SOXX, IGE, IEO, IYF, IHI, EWC, EWQ, EWH, EWI, EWM, EWP, THD, QLD, PPA, PEJ, PXJ, PHO, SSO, ROBO, XLY, XLE, XLF, XLV, XHB, XLI, XLB, SPY, XLK, VHT, VIS, VAW, MGK, VONG. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Homebuilding1. Homebuilding
2. Semiconductor2. Semiconductor
3. Semiconductor Cap Equip.3. E-Commerce
4. Cement and Aggregates4. Internet
5. E-Commerce5. Semiconductor Cap Equip.
6. Internet6. Cement and Aggregates
7. Computer Software and Svcs7. Computer Software and Svcs
8. Air Transport8. Retail Building Supply
9. Retail Building Supply9. Air Transport
10. Electronics10. Electronics
Best Performing AboveWorst Performing Below
50. Electric Utility (West)50. Telecom. Equipment
51. Insurance (Life)51. Securities Brokerage
52. Electric Utility (Central)52. Electric Utility (East)
53. Natural Gas (Diversified)53. Petroleum (Integrated)
54. Petroleum (Integrated)54. Medical Services
55. Natural Gas (Distributor)55. Insurance (Life)
56. Petroleum (Producing)56. Petroleum (Producing)
57. Electric Utility (East)57. Natural Gas (Diversified)
58. Medical Services58. Natural Gas (Distributor)
59. Short ETFs59. Short ETFs
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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