As of 04/19/2024   Indus: 37,986 +211.02 +0.6%     Trans: 15,084 +136.79 +0.9%     Utils: 876 +15.31 +1.8%     Nasdaq: 15,282 -319.49 -2.0%     S&P 500: 4,967 -43.89 -0.9%	YTD  +0.8%   -5.1%   -0.7%    +1.8%    +4.1%	Targets    Overview: 04/12/2024     39,800 or 37,150 by 05/01/2024   16,200 or 15,000 by 05/01/2024   885 or 850 by 05/01/2024   16,700 or 15,800 by 05/01/2024   5,250 or 5,025 by 05/01/2024
Chart Pattern Indicator: on 4/1/24

As of 04/19/2024   Indus: 37,986 +211.02 +0.6%     Trans: 15,084 +136.79 +0.9%     Utils: 876 +15.31 +1.8%     Nasdaq: 15,282 -319.49 -2.0%     S&P 500: 4,967 -43.89 -0.9%	YTD  +0.8%   -5.1%   -0.7%    +1.8%    +4.1%
Targets    Overview: 04/12/2024     39,800 or 37,150 by 05/01/2024   16,200 or 15,000 by 05/01/2024   885 or 850 by 05/01/2024   16,700 or 15,800 by 05/01/2024   5,250 or 5,025 by 05/01/2024
Chart Pattern Indicator: on 4/1/24

Thursday 6/30/22. Intraday Market Direction: Nasdaq

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

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

A head-and-shoulders top chart pattern appears at L (left shoulder), H (head), and R (right shoulder). This confirms as a valid chart pattern when the index closes below the blue neckline. That happened near A. The drop was sufficient to exceed its target (the height of the pattern at the head to the neckline) subtracted from the value of A, where the breakout is.

The near-horizontal red line is a support line. It suggests the index will find support here and move higher. Because this is on the 5-minute scale versus the daily scale, support and resistance aren't as robust as on longer time scales.

We'll have to see if events push the index around and in what direction.

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As you may have noticed, I finished working on a new home page. No links were deleted. I rearranged the columns so that the "Blog" link will appear first on cell phones. The home page looks more professional while still retaining the same content.

If you have suggestions or have problems, then email me at:

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Here's a symbol list of 348 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, ACIW, ADTN, AEIS, AMD, AJRD, AES, AFL, ATSG, AKAM, ALK, ALB, ALL, AEE, AEP, AEL, AXP, AFG, AIG, AMWD, AMN, APH, APOG, AMAT, ATR, ACGL, AWI, ARW, ASH, AIZ, AGO, ATO, ADSK, ADP, AVY, AVNT, AVA, BALL, BSET, BBBY, BERY, BIG, BIO, BKH, BKNG, BRC, BBW, BLDR, CBT, CACI, CAL, CLS, CNP, CRL, CHKP, CHS, CLNE, CNO, CGNX, ED, CONN, COP, GLW, COTY, CR, CROX, CCK, CMI, CW, XRAY, DVN, DDS, DFS, DSGR, ^DJU, ^DJT, D, DOV, DTE, DUK, EIX, ELV, EOG, EFX, EQT, EXPD, XOM, EZPW, FICO, FIS, FLEX, FLS, FMC, FORM, FWRD, FRD, GME, IT, GD, GNW, GPN, GPRO, GGG, EVRG, GES, HBI, HLIT, HSC, HE, HTLD, HL, HSII, HELE, HP, HNI, DHI, HOV, HUBG, IDA, IEX, NSP, IBP, ITGR, IPAR, TILE, JKHY, JAZZ, JBLU, KALU, KBH, KELYA, KFRC, KBAL, KLAC, KLIC, LHX, LZB, LRCX, LEG, LDOS, LEN, LNC, L, LXU, MHO, MTSI, M, MANH, MAN, MRO, MRTN, MAS, MDC, MGEE, MU, MLKN, MCO, MS, MLI, NOV, CNR, NCR, NTAP, NJR, NWL, NEU, NEE, NI, JWN, NWPX, OXY, OGE, ORI, ASGN, OTEX, OMI, PKG, PATK, PDCO, PTEN, PAYX, PYPL, PRFT, PCG, PNW, PLXS, POR, PPG, PPL, PINC, PG, PGR, PRU, PEG, PHM, KWR, QCOM, RJF, RGA, RLI, ROK, SAIA, SLB, SMG, SEIC, SRE, SMTC, SHW, SLGN, SKX, SO, LUV, SWX, SR, SXI, SCS, SRDX, TPX, TER, TXN, TXT, TOL, TRV, TREX, SLCA, UGI, UNM, VLO, VMI, VRSN, V, VC, WRB, WMT, WAT, WSO, WERN, WU, WEX, WOLF, WWW, WDAY, XEL, ZBRA, ITA, IAI, IYE, ITB, IDU, DDM, ICF, IAT, SOXX, IEO, IYF, IHI, EWA, EWO, EWK, EWC, EWQ, EWG, EIS, EWJ, EWW, EPP, EZA, EWY, EWP, EWT, EWU, PPA, PEJ, PHO, ROBO, IEV, IXC, XLP, XLE, XLF, XHB, XLI, XAR, XLU, UNG, USO, VIS. Clink this link for details (pattern type, start and end dates).

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

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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

Wednesday 6/29/22. A Look At Indicators

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 indicator reached its ceiling at 100 yesterday but backed off that today (Tuesday). The signal is bullish but getting weaker, heading toward neutral.

You can see that by the thin blue line near the bottom of the chart, on the right.

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).

Both the red and blue lines recovered somewhat from a week ago. Of course, the two lines have been trending lower all year.

If you look at the red line, the steep drop of the last 2 weeks or so is startling. You'd expect a bounce, a retrace, which is what we see here.

This week, the prior chart is bullish but getting weaker, and this one is bearish. Combined, I think this means we're in for a period of weakness.

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Here's a symbol list of 402 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, ACIW, AYI, ADBE, ADTN, AEIS, AMD, AJRD, AES, AFL, APD, ATSG, AKAM, ALB, ALL, AEE, AEP, AEL, AFG, AIG, AMWD, APH, ANIK, APOG, AMAT, ATR, ARCB, ACGL, AWI, ARW, ASH, AGO, ATO, ADSK, ADP, AVY, AVNT, AVA, AZTA, BALL, BSET, BECN, BERY, BIG, BIO, BIIB, BKH, BOOT, BRC, BFH, BBW, BLDR, CBT, CACI, CALM, CAL, CLS, CNP, CENX, CRL, CHKP, CHS, CHD, CINF, CLNE, CNO, CGNX, CTSH, CL, ED, CAG, CONN, GLW, COTY, CR, CROX, CCK, CSGS, CMI, CW, XRAY, DFS, D, DOV, DRQ, DTE, DUK, BOOM, EBAY, EIX, ELV, EOG, EFX, EXPD, EZPW, FFIV, FICO, FAST, FIS, FISV, FLEX, FLS, FMC, FORM, FWRD, GME, IT, GD, GIS, GPN, GGG, EVRG, HBI, HLIT, HSC, HE, HTLD, HL, HSII, HELE, HP, HSIC, HSY, HNI, HOLX, HD, DHI, HOV, HUBG, JBHT, IDA, IEX, ITW, NSP, IBP, IIIN, ITGR, INTC, IPAR, TILE, IVC, NVTA, JKHY, JBLU, JNJ, KBH, KELYA, KFRC, KBAL, KLAC, LHX, LZB, LRCX, LEG, LDOS, LEN, LNC, L, LOW, MHO, MTSI, MNDT, MANH, MAN, MRTN, MAS, MA, MTRN, MDC, MDT, META, MGEE, MU, MLKN, MCO, MS, MLI, NTAP, NJR, NWL, NEU, NEE, NKE, NI, JWN, NWPX, OXY, OGE, ORI, ASGN, OTEX, OMI, PKG, PANW, PATK, PDCO, PTEN, PAYX, PYPL, PRFT, PCG, PNW, PLXS, POR, PPG, PPL, PINC, PG, PGR, PRU, PEG, PHM, KWR, QCOM, RL, RGA, RLI, ROK, RCKY, ROST, SAIA, SMG, SEE, SEIC, SRE, SMTC, SHW, SLGN, SKX, SO, LUV, SWX, SR, SCS, SSYS, SUM, SRDX, TPR, TGT, TFX, TPX, TER, TXN, TXT, TOL, TSCO, TRV, TZOO, TREX, UGI, UNM, VMI, VRSN, V, VC, WRB, WMT, WAT, WSO, WERN, WU, WEX, WOLF, WWW, WDAY, XEL, ZBRA, ITA, IAI, IYC, ITB, IHE, IDU, DDM, FTEC, QTEC, FXL, QQQ, ICF, IYH, IHF, IAT, SOXX, IYF, IHI, EWA, EWO, EWK, ECH, EEM, EWQ, EWH, EWM, EWW, EPP, EZA, EWP, THD, EWU, PPA, PBE, PEJ, PJP, PHO, ROBO, IEV, IXN, SSO, XLY, XLP, XLF, XLV, XHB, XLI, XRT, SPY, XAR, XLK, XLU, SMH, VHT, VIS. Clink 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

Tuesday 6/28/22. Slider Trading Quiz! Southern Peru Copper (PCU)

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I show another slider trading quiz featuring Southern Peru Copper: PCU stock.

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Here's a symbol list of 61 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACN, AES, APD, ALRM, AMZN, DOX, AMN, ANTM, AIZ, AZTA, BMI, BOOT, BAH, BMY, BBW, CALM, CSCO, DVN, EVH, GME, GNW, GES, HTLD, NSP, ITGR, TILE, NVTA, JBLU, KELYA, KBAL, NEE, OMI, PANW, PFE, PINC, RL, SIGI, SSYS, TPR, TDC, TSCO, VFC, VEEV, WRB, WWW, IHE, IDU, FXI, EWK, EWH, EWS, EZA, PJP. Clink this link for details (pattern type, start and end dates).

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

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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

Monday 6/27/22. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

I show the Dow utilities on the daily scale.

At B, the index found support and bounced upward. It's typical for the indices to do that after a strong move lower.

At A, the index has a strong area of overhead resistance to an upward move. It could rise above the red line, but I expect it to stall near the line. It might be able to burn through and continue higher. Or it could bounce off the line and tumble. I suspect we'll see a pause before a resumption of the rise.

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In the coming weeks, I'll be reworking my website to make it better or easier for non-desktops to view the site. I'm not planning to change the presentation, just the way it works. That could change, depending on how many hoops I have to go through to get the site to work.

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.

For the Week...

Year to Date...

Options Expiration

No options expire this week.

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.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 154 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACN, AMD, AES, AFL, APD, ALRM, ALKS, AMZN, DOX, AMED, ANIK, AAPL, ATR, AWI, ATO, ADP, BMI, BAX, BZH, BAH, BMY, CBT, CALM, CENX, CHD, CINF, CSCO, CTXS, CNA, CGNX, CLR, COST, COTY, DDS, DSGR, ^DJU, DTE, EFX, EL, FICO, FIVN, FLS, FORM, FDP, GME, IT, GL, GOOGL, GGG, EVRG, GES, HLIT, HTLD, HP, HNI, HON, IEX, IDXX, INCY, INTU, IVC, NVTA, JNJ, KALU, KFRC, LZB, LH, LEN, LLY, RAMP, L, MSFT, MCO, NBR, ^IXIC, CNR, NEU, NEE, NI, NVDA, OXY, OTEX, OUT, OMI, OXM, PAYX, PFE, PPG, PG, PGR, PEG, KWR, QCOM, RJF, RNG, RHI, ROG, ^GSPC, CRM, SRE, NOW, TPR, TXN, TRV, UPS, VMI, VEEV, WERN, WEX, WOLF, ITA, IYK, IYC, IHE, IDU, FTEC, FDN, QTEC, QQQ, ICF, IYH, IAT, IYZ, IGV, SOXX, EWZ, EWW, QLD, PPA, DBA, PJP, PHO, ILF, SSO, MXI, XLP, XLB, SPY, XAR, XLK, VHT, VAW, MGK. Clink 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.

-- Thomas Bulkowski

Friday 6/24/22. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 145 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AYI, ATSG, AA, AYX, AMZN, AXP, APA, ATR, ARW, AVA, BAX, BZH, BERY, BKNG, BOOT, BFH, BG, CALM, CPB, CENX, CF, CVX, CINF, CLF, CNO, CONN, COP, CLR, COTY, CCK, DVN, DRQ, BOOM, EOG, EQT, EL, XOM, FLEX, FCX, GPS, GNW, GES, HIG, HAYN, HL, HP, DHI, HOV, JBHT, IBP, IBKR, IPI, NVTA, JBLU, KALU, KBH, K, KMT, KMB, LEG, LEN, LXU, MRO, MAS, MTRX, MDC, MS, MOS, MUR, NBR, NFG, NOV, CNR, NFLX, NWL, NEE, JWN, NUS, NVDA, OMI, PKE, PTEN, PINC, PGR, PHM, KWR, QCOM, RMBS, RJF, RGS, RCKY, ROG, RES, SLB, SCCO, SWN, SRDX, TEVA, TXN, TOL, RIG, TZOO, TREX, SLCA, UNM, VLO, WRB, WU, WEX, IYE, ITB, IEZ, SLV, IGE, IEO, EWO, EWK, EWZ, EWG, EWY, EWD, DBA, PEJ, PXJ, IXC, ILF, XLE. Clink this link for details (pattern type, start and end dates).

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

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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

Thursday 6/23/22. The Great Cryptocurrency Drop: Ethereum

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

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I show a picture of cryptocurrency Ethereum on the weekly scale. I chose that scale to show the large decline the currency has suffered.

The currency peaked in November 2021 at 4891. Today's (Wednesday) close of 1049 means the currency has declined 79% from the peak. Wow.

Of course, the currency can drop more...much more. As the chart shows, in March of 2020, the currency reached a low of about 95.

The red circle shows where I expect the currency to find support. If I'm correct, the currency could drop almost in half to about 600.

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Here's a symbol list of 93 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, ACN, AA, AMZN, ABC, AON, APA, AVA, BECN, BKH, BG, CALM, CE, CENX, CVX, CLF, ED, CONN, COP, COTY, CRH, CCK, DVN, EBAY, EOG, EPAM, EFX, EZPW, FLEX, FLS, FCX, IT, GE, HL, HSIC, IBP, TILE, ISRG, NVTA, KALU, KMT, LZB, RAMP, MRO, MCO, MLI, MUR, NBR, NKE, NI, JWN, OLN, PPG, RGS, ROK, ROG, RES, SMG, SCCO, SRDX, TDOC, RIG, TZOO, TREX, SLCA, VRTX, WLK, IEZ, IHE, FDN, IAT, SLV, IGE, IEO, EWZ, EWY, EWL, PXJ, IXC, ILF, MXI, XLU, USO. Clink 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

Wednesday 6/22/22. Buy Low, Sell High Using Smiles and Frowns

Here's a quiz based on the figure to the right.

Imagine that you are trading a stock shown by the curved line in the figure. A and B are at the same price....

Question: Would you rather buy at A or B? Why?

Answer: At A, price is still dropping and it continues to drop after A. Of course, at A, we don't know that price will move lower, but it's a good bet because a trend in motion tends to remain in motion. Buying at A is what happens when you try bottom fishing -- buying as price drops, expecting a reversal after price bounces off the bottom.

Buying at point A is common in bear markets when traders and investors take positions after guessing that the market has finally bottomed and is either reversing or will do so soon. It's a recipe for disaster when the stock continues lower. Often, investors will throw in the towel and sell just days or a few weeks before the stock bottoms. They sell when they should be buying.

Now look at point B. Price is moving up. You missed the bottom, of course, but the sky is the limit on the upside. Buying at B is the higher reward, lower risk entry. It's a momentum play: Buy high and sell higher.

Point B is my preferred entry location.

Go back and look at your trades and determine if you are buying at A or B. If it's hard to tell, then switch to the higher time scale and use a LINE chart instead of candlesticks or price bars. That may help show the trend.

Trading Techniques Exit: The Sell Side

You own the stock pictured in the chart to the right. Both C and D are at the same price.

Question: Would you rather sell at C or D? Why?

Answer: Price is moving up at C. Why sell if price is rising? Any delay will mean more profit. Often, point C represents the type of exits I take. I think price is going to drop so I exit only to find that price continues to rise after a short retrace.

At D, price has already peaked and is now tumbling. It's time to exit.

If you wait until D to sell, then every delay means a larger loss or less profit. Price drops faster than it rises. I proved that, so it's not idle speculation. If you wait to sell at D and don't get out quickly, you can get whacked. Nevertheless, point D represents my preferred exit.

Today's Markets

I discuss smiles and frowns because you should buy when the stock is smiling and sell when it's frowning. Ask yourself this: Are the stocks you own smiling or frowning?

Most likely, your stock is tumbling. The stocks are smiling not frowning. That means buying now, not selling.

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Here's a symbol list of 79 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AES, AYX, AMZN, AMED, AXP, AMGN, ANTM, ARCB, ACGL, ADM, AVA, BSET, BBW, CNC, CVX, CAG, COST, CRH, CCK, DHR, DOV, BOOM, EMR, EL, EXPD, XOM, FDX, FWRD, GPS, GNW, HSC, JBHT, IBP, IPI, IVC, NVTA, LZB, LH, LXU, MNDT, MRO, MRTN, MAS, MTRX, META, MSFT, MCO, NOV, CNR, NFLX, JWN, ORI, PTEN, SLB, SCHW, SXI, SUM, SRDX, SNPS, TPR, SLCA, VLO, ZBRA, IYE, IEZ, IGV, IGE, EWK, EWW, EZA, EWU, PXJ, IXC. Clink 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

Tuesday 6/21/22. Slider Trading Quiz!

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I show another slider trading quiz featuring Southern Company: SO, support and resistance stock.

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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: MMM, AYI, ATSG, AA, AYX, AEP, AFG, AMWD, ABC, AMN, APA, ARCB, ACGL, ADM, AWI, ARW, ASH, AVNT, AVA, BAX, BECN, BZH, BIG, BIIB, BKNG, BOOT, BRC, BBW, BG, CBT, CACI, CE, CHKP, CVX, CIEN, CTXS, CMCO, ED, CAG, COP, COST, CR, CROX, CSGS, CTS, CW, DHR, DECK, DVN, DDS, DOV, EXP, EIX, EMR, EXC, EXPD, XOM, FLEX, FLS, FCX, FDP, GME, GNW, GOOGL, EVRG, GES, HOV, JBHT, HURC, ITW, IIIN, IPI, IVC, JKHY, KBH, K, KMT, KFRC, KBAL, KLAC, LAMR, LANC, M, MANH, MRO, MCHX, MRTN, MTRN, MTRX, MDC, MGEE, MU, MLI, MUR, NBR, NFG, NXGN, NKE, OLN, ASGN, OTEX, OUT, PKG, PAYX, PYPL, PRFT, PGR, KWR, QCOM, RGA, RHI, ROK, SLB, SCHW, SMG, SRE, NOW, SKX, SO, SCCO, SR, SXI, TPR, TGT, TEVA, TKR, UGI, VLO, VMI, V, VC, VMC, WAT, WSO, WLK, WMB, WWW, XEL, IYM, IYE, IEZ, IDU, IYZ, IGE, IEO, EWO, EWZ, EWM, EWS, EWT, THD, PXJ, PHO, IXC, ILF, MXI, XLE, XLI, XLB, UNG, VIS. Clink 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

Friday 6/17/22. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 304 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACN, ACIW, AYI, AEIS, AFL, ALRM, ALK, ALB, AYX, AXP, AFG, AIG, AMWD, APH, APA, APOG, AMAT, ADM, AWI, ARW, ASH, AGO, ATO, ADSK, AVY, AVNT, AXS, AZTA, BMI, BCPC, BAX, BECN, BZH, BERY, BIG, BIO, BKNG, BOOT, BRC, BG, CBT, CACI, CALM, CE, CVX, CINF, CSCO, CTXS, CLF, CNA, CNO, CTSH, CMCO, ED, CONN, COP, GLW, COST, CR, CROX, CCRN, CTS, CMI, CW, DECK, DVN, DDS, DFS, DOV, DRQ, DTE, BOOM, EXP, EMN, EBAY, EMR, EXPD, XOM, FFIV, FIS, FE, FISV, FLS, FCX, FDP, GME, GPS, IT, GE, GIS, GNW, GPN, GOOGL, GGG, GFF, HBI, THG, HLIT, HSC, HIG, HSIC, HNI, HOV, IEX, ITW, NSP, IBP, IIIN, ITGR, INTC, IPG, IPI, INTU, JKHY, JBLU, KALU, KBH, K, KELYA, KMT, KFRC, KBAL, KLAC, LRCX, LNC, L, LOW, MTSI, M, MANH, MAN, MRO, MCHX, MAS, MA, MTRN, MTRX, MDC, MDT, MRK, META, MU, MLKN, MCO, MS, MOS, MLI, MUR, NBR, ^IXIC, NFG, NOV, NTAP, NWL, NKE, NI, OGE, OLN, OMC, ASGN, OTEX, PKG, PANW, PAYX, PYPL, PRFT, PPG, PFG, PGR, PRU, PEG, PHM, KWR, QCOM, RL, RGS, RGA, RHI, ROK, ROST, SLB, SMG, SRE, NOW, SHW, SKX, SCCO, LUV, SXI, SCS, SUM, TFX, TER, TEVA, TXN, TXT, TMO, TKR, TOL, TZOO, TREX, UGI, UNM, VFC, VLO, VMI, VRSN, V, VC, VMC, WSO, WU, WEX, WMB, WWW, IYM, IYC, IYE, ITB, IEZ, IHE, IDU, DDM, FTEC, QTEC, FXL, QQQ, IYH, IHF, IYZ, SOXX, IGE, IEO, IYF, IHI, EWO, EWZ, EWG, EWH, EWW, EWS, EWY, EWD, EWT, THD, TUR, QLD, PXJ, PHO, ROBO, IXC, IXN, ILF, SSO, MXI, XLY, XLE, XLF, XHB, XLI, XLB, XRT, SPY, XLK, XLU, UNG, SMH, VIS, VAW, MGK. Clink this link for details (pattern type, start and end dates).

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

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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

Thursday 6/16/22. Intraday Market Direction: Nasdaq

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

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

The blue line at A shows a strong measure of support which held up the index for days. When the index pierced the line, it did so with gusto and gapped lower.

At B, we see an exhaustion gap form. Since then, the index has been trying to close the gap (meaning retrace until it covers the gap).

The two red lines are almost parallel, forming a channel, but more like an ascending broadening wedge. Those breakout downward 52% of the time, which is about random. That's really no help but since the index is closer to the top line, we can assume an upward breakout is more likely. I'm not sure if that's really a safe assumption or not...

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Here's a symbol list of 83 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, AKAM, AFG, AMWD, AMN, ANTM, APA, ARCB, ADM, AWI, AIZ, BECN, BZH, BIO, BIIB, BKNG, CHKP, CSCO, CLX, CCRN, CW, DVN, DDS, DSGR, EBAY, FE, FCX, FRD, GME, GOOGL, THG, HSII, HSIC, HOV, INCY, IIIN, IVC, JNJ, KBH, MTSI, MANH, MRO, MDC, MRK, NBR, NXGN, NKE, OTEX, PRFT, PG, PGR, PHM, RGA, REV, RNG, RLI, ROG, SEE, NOW, SLGN, SKX, SRDX, TFX, TOL, TREX, VC, WLK, WDAY, IHF, EWO, EWI, EWW, EWP, EWD, EWL, PXJ, UNG, USO. Clink this link for details (pattern type, start and end dates).

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

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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

Wednesday 6/15/22. A Look At Indicators

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 has turned bearish. That's shown by the vertical red bar on the far right of the chart, which turned bearish from neutral about a week ago.

Today (Tuesday) the indicator bounced off the low and inched higher. It suggests a small measure of hidden strength in the markets. Of course, the Federal Reserve will probably raise interest rates tomorrow. Although the market won't like it, a 3/4 point move could be factored in, so we might see a bounce upward.

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).

Ouch! Seventy percent of stocks in my database this week are in bear market territory compared to 51% a week ago. That's an increase (worse) of 37 percentage points in a week.

The blue line didn't drop as far as the red one, but it declined 35 percentage points in a week. Both lines this week are making new lows.

If we look at the two chart, both are bearish. The CPI chart has the indicator turning upward, which is a sign of hope. This chart, doesn't show any hint of bullish behavior. My feeling is that the market is a lot closer to the bottom of its drop than it is to the all-time high. All we need to do is hold on, ride out the drop, and buy as close to the bottom as we can. Years from now, when we look back, we'll wish we had the money and the courage to buy more at this level.

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Here's a symbol list of 344 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ADBE, AMD, AJRD, AES, AFL, APD, AKAM, ALRM, ALK, ALB, AA, AYX, AMZN, AEE, AXP, AFG, AIG, AMWD, APH, ANIK, ANTM, APA, AAPL, AMAT, ARCB, AWI, ASH, ATO, ADSK, ADP, AVNT, AXS, AZTA, BCPC, BECN, BZH, BERY, BIG, BIO, BMRN, BKNG, BOOT, BAH, BRC, BMY, BLDR, CBT, CE, CX, CNP, CF, CRL, CIEN, CINF, CSCO, CTXS, CLNE, CLF, CLX, CNA, CNO, CGNX, CONN, CLR, COTY, CR, CTS, DHR, XRAY, DVN, DDS, DFS, DOV, DTE, EMN, EBAY, EMR, EOG, EPAM, EFX, EQT, EVH, EXC, FFIV, FDS, FICO, FAST, FDX, FE, FISV, FLEX, FLS, FMC, FCX, FDP, FRD, GME, GD, GIS, GILD, GOOGL, GPRO, GGG, HBI, HLIT, HAYN, HELE, HSIC, HNI, HOLX, HD, DHI, HOV, IEX, IDXX, ITW, INCY, INFN, IIIN, INTC, IBKR, TILE, IPG, INTU, ISRG, IVC, NVTA, JKHY, JBLU, JNJ, KALU, KBH, KBAL, KLAC, LHX, LZB, LH, LRCX, LEG, LEN, LOW, MANH, MAN, MRO, MAS, MTRN, MTRX, MDC, MRK, META, MU, MLKN, MCO, MS, NBR, NFG, NOV, CNR, NFLX, NTGR, NJR, NWL, NEU, NEE, NKE, NI, NUS, ASGN, OTEX, PATK, PDCO, PTEN, PAYX, PYPL, PRFT, PCG, PPL, PG, PRU, PHM, DGX, RL, RMBS, RGS, REV, RNG, ROK, RCKY, ROST, SAIA, CRM, SLB, SRE, NOW, SHW, SLGN, SKX, SO, SCCO, LUV, SXI, SCS, SUM, SRDX, TGT, TFX, TPX, TER, TXN, TXT, TKR, TRV, TZOO, TG, UGI, VLO, VRSN, VC, WU, WMB, WOLF, WWW, ITA, IYM, IYC, ITB, IEZ, IHE, IDU, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, ICF, IYH, IHF, IYZ, IGV, SOXX, IYF, IHI, EWA, EWO, EWK, EWZ, EWC, ECH, EWQ, EWG, EWI, EWJ, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, THD, EWU, QLD, IBB, PPA, DBA, PEJ, PXJ, PJP, PHO, ROBO, IEV, IXN, ILF, SSO, MXI, XLY, XLF, XLV, XHB, XLI, XLB, XRT, SPY, XAR, XLK, XLU, UNG, USO, SMH, VHT, VIS, VAW, MGK. Clink 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

Tuesday 6/14/22. Slider Trading Quiz!

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I show another slider trading quiz featuring Smith International: SII stock.

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Here's a symbol list of 461 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ABT, ACN, ACIW, AYI, ADBE, ADTN, AEIS, AMD, AJRD, AES, AFL, APD, AKAM, ALRM, ALK, ALB, AA, ALKS, AYX, AMZN, DOX, AEE, AEL, AXP, AFG, AIG, APH, ANIK, ANTM, APA, APOG, AAPL, AMAT, ARCB, ADM, AWI, ARW, ASH, AGO, ATO, ADSK, ADP, AVY, AVNT, AZTA, BMI, BCPC, BALL, BECN, BZH, BBBY, BERY, BBY, BIO, BIIB, BMRN, BA, BKNG, BAH, BRC, BFH, BMY, BLDR, BG, CBT, CACI, CDNS, CE, CLS, CX, CNP, CENX, CRL, CHKP, CVX, CIEN, CINF, CTXS, CLF, CLX, CNA, CNO, CGNX, CMTL, CONN, COP, GLW, CR, CRH, CROX, CCK, CSGS, CTS, CMI, CW, DHR, DECK, XRAY, DVN, DDS, DFS, ^DJT, ^DJI, DOV, DRQ, DTE, BOOM, EXP, EMN, EBAY, EIX, EMR, WIRE, EOG, EPAM, EFX, EQT, EL, EVH, EXC, EXPD, XOM, FFIV, FDS, FICO, FAST, FDX, FIS, FE, FISV, FIVN, FLEX, FLS, FMC, FORM, FCX, FDP, FRD, GPS, IT, GD, GE, GPN, GL, GS, GOOGL, GPRO, GGG, GFF, HBI, HLIT, HSC, HIG, HAYN, HQY, HSII, HELE, HP, HSIC, HNI, HOLX, HD, HON, DHI, HOV, IEX, IDXX, ITW, ILMN, INCY, INFN, NSP, IIIN, INTC, IBKR, TILE, IPG, INTU, ISRG, NVTA, JKHY, JBLU, KALU, KBH, KELYA, KMT, KFRC, KBAL, KLAC, KLIC, LHX, LZB, LH, LRCX, LAMR, LANC, LEG, LDOS, LEN, LLY, LNC, L, MTSI, M, MANH, MAN, MRO, MCHX, MLM, MAS, MA, MTRN, MDC, MDT, MRK, META, MU, MSFT, MLKN, MCO, MS, MLI, MUR, NBR, ^IXIC, NFG, NOV, CNR, NCR, NFLX, NTGR, NTAP, NWL, NEU, NEE, NKE, NI, NUS, NVDA, OXY, ORI, OLN, OMC, ASGN, OTEX, OUT, PKG, PANW, PKE, PDCO, PTEN, PAYX, PYPL, PRFT, PFE, PCG, PLXS, PPG, PPL, PFG, PRU, PHM, QCOM, DGX, RL, RMBS, RJF, RGS, RGA, REV, RNG, RHI, ROK, RCKY, ROST, ^GSPC, SAIA, CRM, SLB, SCHW, SEE, SEIC, SRE, SMTC, NOW, SHW, SLGN, SKX, SO, SCCO, LUV, SXI, SCS, SSYS, SUM, SRDX, SNPS, TPR, TGT, TECH, TDOC, TFX, TPX, TER, TXN, TXT, TMO, TKR, TJX, TOL, TZOO, TG, TREX, UGI, UNM, VFC, VLO, VMI, VEEV, VRSN, VRTX, V, VC, WRB, WAT, WU, WLK, WMB, WOLF, WDAY, XEL, ZBRA, ITA, IYM, IAI, IYC, IYE, ITB, IEZ, IHE, IDU, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, ICF, IYH, IHF, IAT, IYZ, IGV, SOXX, IGE, IEO, IYF, IHI, EWA, EWO, EWK, EWZ, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, THD, TUR, EWU, QLD, IBB, PPA, DBA, PBE, PEJ, PXJ, PJP, PHO, ROBO, IEV, IXC, IXN, ILF, SSO, MXI, XLY, XLE, XLF, XLV, XHB, XLI, XLB, XRT, SPY, XAR, XLK, XLU, UNG, SMH, VHT, VIS, VAW, MGK. Clink this link for details (pattern type, start and end dates).

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

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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

Monday 6/13/22. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

This is a chart of the S&p 500 index on the daily scale.

Let's go through the patterns from liberal to conservative (that is, left to right).

At AB is a confirmed double top. It confirms as a valid pattern when the index closed below the bottom of the pattern (below the valley between A and B).

At CD is the reverse, a double bottom. It confirms as valid when the index closes above the peak between valleys C and D.

Both patterns exceed their measure rule targets (the pattern's height added to (for the double bottom) or subtracted from (the double top) the breakout (or confirmation) price.

More recently, the circle at E shows a weird looking head-and-shoulders bottom. The right shoulder is a bit closer to the head than what I like to see. This pattern didn't reach the target yet. It still might but it hasn't so far.

The diamond-looking pattern is, well, a diamond top. Not only does this pattern look sweet, but it performs well, too. The decline drops below the measure rule target (pattern's height minus the breakout price).

This coming week, I expect to see the indices form a bottom. Because of the strong move lower, I expect a fast rebound. That's all a guess. We could continue lower or just move sideways.

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.

For the Week...

Year to Date...

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).

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.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 302 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, AYI, AES, AFL, ATSG, AKAM, ALK, AA, ALKS, ALL, AYX, AMZN, DOX, AMED, AEE, AEP, AXP, AFG, AIG, APH, ANTM, AON, AMAT, ACGL, AWI, AIZ, ADSK, ADP, AVY, AVNT, AVA, BMI, BALL, BZH, BBY, BRC, BFH, BLDR, BG, CACI, CDNS, CE, CLS, CX, CNP, CRL, CHKP, CIEN, CINF, CSCO, CTXS, CLF, CLX, CNA, CNO, CTSH, CMTL, GLW, CR, CRH, CROX, CCK, CSGS, CTS, DHR, XRAY, DDS, DFS, ^DJT, ^DJI, BOOM, EXP, EMN, WIRE, EPAM, EFX, EVH, FFIV, FDS, FAST, FIS, FE, FISV, FLEX, FMC, FORM, FCX, FRD, GPS, IT, GPN, GL, GS, GPRO, GGG, HBI, HLIT, HSC, HIG, HAYN, HELE, HSIC, HSY, HOLX, HD, HON, IEX, IDXX, ITW, ILMN, INCY, INFN, NSP, IBKR, IPG, ISRG, NVTA, JKHY, KALU, K, KMT, KLAC, LH, LRCX, LAMR, LDOS, L, MNDT, MLM, MAS, MTRN, META, MU, MSFT, MCO, MS, MOS, NOV, CNR, NTAP, NWL, NEU, NEE, NXGN, NI, ORI, OLN, OMC, OTEX, OUT, PDCO, PAYX, PRFT, PFE, PCG, PGR, PRU, KWR, QCOM, DGX, RL, RMBS, RJF, RGS, RGA, REV, RNG, RHI, ^GSPC, SAIA, SCHW, SEE, SEIC, SMTC, SHW, SO, SCCO, SSYS, SUM, SNPS, TGT, TECH, TFX, TPX, TER, TXN, TXT, TMO, TJX, TRV, UGI, UPS, UNM, VMI, VMC, WRB, WU, WLK, WEX, WMB, WDAY, XEL, ZBRA, ITA, IYM, IAI, IYE, ITB, IEZ, IHE, IDU, DDM, FXL, FXI, ICF, IYH, IHF, IAT, IYZ, SOXX, IGE, IYF, IHI, EWA, EWO, EWK, EWZ, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, THD, TUR, EWU, PPA, PEJ, PXJ, PJP, PHO, ROBO, IEV, IXC, ILF, SSO, MXI, XLF, GLD, XLV, XLI, XLB, SPY, XAR, XLK, SMH, VIS, VAW. Clink 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.

-- Thomas Bulkowski

Friday 6/10/22. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 83 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, AJRD, AES, ALKS, AEE, AMWD, ABC, ANTM, APOG, ADSK, AVA, AZTA, BALL, BZH, BBBY, BG, CALM, CAL, CX, CLNE, CLX, CAG, COST, COTY, CCRN, BOOM, FIS, FE, GPN, GES, HOLX, IDXX, ITGR, INTC, ISRG, JKHY, LNC, LOW, MDT, MOS, MYGN, NI, OMC, RMBS, RLI, TFX, TEVA, TSCO, VRTX, WAT, WEX, XEL, IAI, ICF, IAT, IYF, IHI, EWA, EWO, EWZ, EWQ, EWG, EWI, EWJ, EWM, EWW, EZA, EWY, EWD, EWL, THD, TUR, IBB, PBE, IEV, ILF. Clink this link for details (pattern type, start and end dates).

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

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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

Thursday 6/9/22. Intraday Market Direction: Nasdaq

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

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This is a chart of bitcoin (BTC-USD) on the daily chart.

Pattern 1-2-3 is what looks like a triple top, each number represents a minor high (a peak). It's not a triple top because it never confirmed at a valid pattern.

By that, I mean the coin didn't close below A. Instead, it closed above the top of the pattern to reach a high near B.

At C, we see a descending triangle. This is a valid chart pattern. We see at D, the coin closed below the bottom of the triangle. Instead of continuing down, the coin climbed and busted the triangle when it closed above the top of the triangle. A busted pattern often suggests a move higher, part of which we see on the rise after D. However, I don't know if we'll see a move higher or not. My guess: Yes, we will see a rise, but it could form a second bottom first.

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Here's a symbol list of 58 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AEIS, ANTM, ARW, BAH, CPB, CX, CHS, CR, DSGR, ^DJU, BOOM, EXP, GME, HIG, HAYN, HURC, IDA, INCY, INTC, IPG, IVC, JAZZ, MAN, MRK, CNR, NUS, PNW, POR, RMBS, RGA, SAIC, SIGI, SR, TPX, RIG, SLCA, WRB, XEL, IDU, FXI, EWK, EEM, EWM, DBA, PXJ, UNG. Clink 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

Wednesday 6/8/22. A Look At Indicators

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 still bullish this week as the vertical green bar on the far right of the chart shows.

Notice how the index seems to be rounding over. Could be that it's just gathering steam for another push higher. Or it could be that it's tired; what doesn't go up, falls.

I think this pattern serves as a warning that we might see the index retrace and form a second bottom before we get a sustained rise.

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).

Both the red and blue lines show a sustained recovery from the early May low. Certainly we see improvement from the snapshot taken a week ago.

The red line shows a double bottom pattern, confirmed, suggesting a move higher and that's what we've seen. If the measure rule holds true (height of the double bottom added to the top of it), then we've got a bit more of a rise to come yet.

The prior chart is bullish but showing signs of aging and this one is bullish, too, but near its target. This is a time for caution, I think. Earnings will come out soon, so that's going to bounce the market around.

$ $ $

Here's a symbol list of 169 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AMD, AFL, AMN, ANTM, APA, ATR, AVNT, AZTA, BALL, BSET, BECN, BBY, BA, BOOT, BFH, CDNS, CE, CX, CRL, CTXS, CLX, COP, COTY, CRH, CCRN, CW, DVN, DOV, EXP, EIX, EMR, EOG, EQT, EL, FISV, FTNT, GME, GD, GGG, GFF, HLIT, HSY, HOLX, HON, IEX, ITW, IPAR, IPG, INTU, JKHY, JAZZ, KSS, KLIC, LHX, LH, LDOS, LMT, MTSI, MANH, MRO, MLM, MA, MTRN, MDC, MU, MSFT, MCO, MS, MOS, MUR, NOV, NKE, NOC, NUS, OXY, OGE, OMCL, ASGN, PANW, PYPL, PNW, PLXS, PGR, PEG, DGX, RL, RJF, RHI, ROG, SLB, SIGI, NOW, SKX, SCCO, SUM, TGT, TPX, TDC, TKR, TJX, RIG, TG, SLCA, VEEV, VRTX, VMC, WMT, WAT, WEX, WMB, WOLF, WDAY, ITA, IYE, IEZ, IHE, IDU, DDM, FTEC, QTEC, FXL, FXI, ICF, IYH, IAT, IGV, IGE, IEO, IYF, IHI, EWK, EWZ, EWC, EWM, EWW, EWP, IBB, PPA, PEJ, PXJ, PJP, PHO, ROBO, IXC, ILF, SSO, MXI, XLE, XLF, XHB, XLI, XRT, SPY, XAR, XLU, VHT, VIS. Clink 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

Tuesday 6/7/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring SJW (symbol: SJW) stock.

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Here's a symbol list of 118 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AMD, AES, APD, ALK, AYX, AMZN, AIG, ATR, ARCB, AWI, AGO, ADSK, AVY, BSET, BZH, BBY, BIIB, BAH, BLDR, CACI, CALM, CE, CRL, CHS, CHD, CAG, GLW, COST, CCK, CSGS, DDS, DSGR, ^DJT, BOOM, EXP, EBAY, WIRE, EFX, EXPD, FFIV, FLEX, FDP, GME, GNW, GOOGL, GPRO, HQY, DHI, HOV, JBHT, NSP, IVC, JAZZ, KBH, LZB, LMT, LOW, MHO, M, MCHX, MDC, MLKN, MLI, NTAP, NJR, NWL, NEE, JWN, NOC, OMCL, PKG, PATK, KWR, RGA, ROK, ROG, ROST, SAIA, SAIC, SMG, SMTC, SWX, TOL, TSCO, TZOO, TG, UPS, VRTX, WSM, WWW, IYC, FXI, EWZ, EWH, EWI, EWP, IBB, DBA, PBE, PEJ, PXJ, PJP, PHO, ILF, XLY, XRT, UNG, VIS. Clink this link for details (pattern type, start and end dates).

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

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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

Monday 6/6/22. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

At ABC, the index formed a triple bottom. The index confirmed the pattern as a valid one when it closed above the red line D. Price coasted up to G before dropping.

If you measure the height of the pattern from C (lowest bottom) to D and add it to D, it falls short of the expected target at G.

At EF, a double bottom appears and confirmed when price gapped up on the way to H.

Will the index continue higher this week?

My guess? Yes, it will. The knot it just formed should pose a support/resistance area should price return to it. Of course, the index is still within the knot now. I'm expecting it to soar out of the knot this week.

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.

For the Week...

Year to Date...

Options Expiration

No options expire this week.

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.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 85 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, APD, AKAM, ALK, AMZN, AIG, ANIK, ATR, ARCB, ACGL, ADSK, AVY, BSET, BZH, BBY, BLDR, CALM, CRL, CHS, CNO, GLW, COST, DDS, ^DJT, EBAY, EXPD, FFIV, FIS, FORM, FDP, GOOGL, GPRO, HSC, DHI, HOV, JBHT, INFN, NSP, IVC, JAZZ, KBH, LZB, LDOS, LOW, MHO, M, MNDT, MCHX, MDC, MDT, NTAP, NWL, NXGN, JWN, NOC, PKG, KWR, ROST, SAIA, SMG, TOL, TSCO, TZOO, WSM, ZBRA, IYC, IHI, ECH, EWM, PEJ, PXJ, XLY, XRT. Clink 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.

-- Thomas Bulkowski

Friday 6/3/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 154 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ADBE, AEIS, AMD, AFL, APD, ALRM, ALK, ALL, AYX, AMZN, AFG, AIG, AMGN, AON, AAPL, ATR, ARCB, ACGL, AGO, ADSK, AVY, AVA, AXS, BCPC, BSET, BAX, BZH, BBY, BIO, BOOT, BRC, BLDR, CDNS, CALM, CENX, CRL, CHS, CIEN, CLNE, CNO, CONN, GLW, COST, CROX, XRAY, DDS, ^DJT, ^DJI, EBAY, EVH, EXPD, FFIV, FICO, FIS, FCX, FDP, GME, GOOGL, GPRO, HLIT, HQY, HON, DHI, HOV, JBHT, NSP, IPAR, IVC, JAZZ, JNJ, KBH, KFRC, KLAC, LZB, RAMP, LOW, MHO, M, MNDT, MANH, MDC, FB, MU, ^IXIC, NFLX, NTAP, NJR, NWL, JWN, NUS, NVDA, ORI, ASGN, OTEX, PKG, PANW, PYPL, KWR, RNG, ROG, ROST, ^GSPC, SAIA, CRM, SMG, NOW, SCCO, SNPS, TDOC, TER, TMO, TOL, TSCO, TZOO, VEEV, WU, WSM, WWW, ZBRA, IYC, FTEC, FDN, QTEC, FXL, QQQ, IAT, IGV, SOXX, SLV, EWK, EWC, ECH, EWQ, EWG, EIS, QLD, PEJ, IXN, SSO, XLY, GLD, XLB, XRT, SPY, XLK, UNG, SMH, MGK. Clink this link for details (pattern type, start and end dates).

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

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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

Thursday 6/2/22. Intraday Market Direction: Nasdaq

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

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

The chart pattern shown here isn't a trendline that I'm focused on, but a bump-and-run reversal top. The lead-in phase is at A. That's a short and tight move that follows an up-sloping trendline.

B is the bump phase. It suggests, but does not guarantee, price will head lower and pierce the trendline. The plunge could be substantial, about the height of the bump applied below the trendline. If that were to happen, it would take the index down to about 11,200.

$ $ $

Here's a symbol list of 193 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, ACIW, AFL, ALK, ALL, AMZN, AEO, AIG, ABC, AMGN, AON, ATR, ARCB, ACGL, ADM, AWI, ARW, ADSK, AVY, AVNT, BSET, BAX, BZH, BBY, BKH, BA, BKNG, BLDR, BG, CALM, CF, CRL, CHS, CINF, CTSH, CL, CONN, GLW, COST, COTY, CR, CSGS, DHR, DDS, DSGR, ^DJT, BOOM, EBAY, EL, EXPD, FFIV, FICO, FIS, FDP, FRD, GE, GS, GOOGL, GPRO, GGG, GES, HLIT, HSC, HIG, HE, HAYN, HQY, HELE, HSIC, HNI, HON, DHI, HOV, HUBG, JBHT, NSP, ITGR, INTC, IPAR, IPG, IVC, JKHY, JAZZ, JBLU, KALU, KBH, KELYA, KBAL, KMB, KSS, KLIC, LZB, LEN, LOW, MHO, M, MNDT, MAN, MTRX, MDC, MDT, MU, MCO, MS, NFLX, NTAP, NWL, JWN, ORI, ASGN, PKG, PKE, PTEN, PAYX, PYPL, PETS, PFE, PPL, PG, PEG, PHM, KWR, RGA, REV, RNG, ROG, ROST, SAIA, CRM, SMG, SEE, SEIC, SLGN, SKX, LUV, SRDX, TPR, TFX, TDC, TER, TXN, TKR, TOL, TSCO, TZOO, VFC, WSO, WU, WSM, WWW, IAI, IYC, ITB, DDM, SLV, IHI, EWZ, ECH, EWG, EWM, EWL, THD, EWU, PEJ, PJP, XLY, XLI, XRT, UNG, VIS, MGK. Clink 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

Wednesday 6/1/22. 2022 Forecast Update

Here's the updated 2022 forecast, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 31 May 2022 were... (The numbering is how they ranked a month ago.)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 5/27/22.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 5/27. The numbering is how they ranked a month ago.

$ $ $

Here's a symbol list of 69 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ATSG, AA, AYX, AMZN, AEO, ADM, BIIB, CACI, CENX, CRL, CVX, CONN, COTY, FFIV, FDS, FCX, FRD, HP, HOLX, NSP, IBKR, JAZZ, MRO, MGEE, MOS, MYGN, PTEN, REV, RNG, RLI, SAIA, CRM, SLB, SKX, SCCO, TPR, TKR, VFC, VMI, VRTX, WEX, IYC, IEZ, FXI, IHF, EWZ, EWC, ECH, EEM, EWH, EWM, EZA, EWY, EWT, TUR, EWU, DBA, PBE, PXJ, IXC, ILF, MXI, XLY, USO. Clink 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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