Bulkowski's Blog: ThePatternSite.com
As of 02/28/2024
  Indus: 38,949 -23.39 -0.1%  
  Trans: 15,706 -90.67 -0.6%  
  Utils: 841 -0.99 -0.1%  
  Nasdaq: 15,948 -87.56 -0.5%  
  S&P 500: 5,070 -8.42 -0.2%  
YTD
 +3.3%  
-1.2%  
-4.6%  
 +6.2%  
 +6.3%  
  Targets    Overview: 02/13/2024  
  Down arrow37,700 or 39,000 by 03/15/2024
  Up arrow16,400 or 15,400 by 03/01/2024
  Up arrow870 or 800 by 03/01/2024
  Down arrow15,000 or 16,400 by 03/15/2024
  Down arrow4,850 or 5,100 by 03/15/2024
As of 02/28/2024
  Indus: 38,949 -23.39 -0.1%  
  Trans: 15,706 -90.67 -0.6%  
  Utils: 841 -0.99 -0.1%  
  Nasdaq: 15,948 -87.56 -0.5%  
  S&P 500: 5,070 -8.42 -0.2%  
YTD
 +3.3%  
-1.2%  
-4.6%  
 +6.2%  
 +6.3%  
  Targets    Overview: 02/13/2024  
  Down arrow37,700 or 39,000 by 03/15/2024
  Up arrow16,400 or 15,400 by 03/01/2024
  Up arrow870 or 800 by 03/01/2024
  Down arrow15,000 or 16,400 by 03/15/2024
  Down arrow4,850 or 5,100 by 03/15/2024

June 2023 Headlines

Archives


Friday 6/30/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 171 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ALKS, DOX, AMED, AEL, AIG, AMWD, AME, AR, ASH, AIZ, AGO, AVNT, AXS, BALL, BSET, BFH, BRKR, CBT, CX, CNP, CDAY, CHKP, CHS, CLNE, CNO, CGNX, CMTL, CSGP, CCRN, CTS, DSGR, DTE, DUK, BOOM, EME, EQT, EXPI, FDS, FAST, FE, FLS, FTNT, FTV, FNV, GIS, THG, HE, HAYN, HSII, HSIC, HON, HWM, HUBG, HUM, HURC, IEX, INCY, NSP, IBP, IIIN, INTC, IPI, INTU, ISRG, IRM, JNJ, KMT, LANC, LNC, MCHX, MAS, MTRN, MTRX, MU, MLKN, MS, MLI, MYGN, NCR, NTGR, NEWR, NXGN, JWN, OMCL, ORCL, OR, PKG, PKE, PATK, PAYX, PCG, PPG, PPL, PINC, PRU, RRC, REGN, RGS, RNG, ROL, ROST, SBH, SCHW, SMG, SHW, SHOP, SKX, SKYW, SO, SWX, SWN, SXI, SSYS, TRGP, TDY, TFX, TPX, TKR, TG, UNH, MDRX, V, WRB, WERN, WWW, ITA, IAI, IYE, IEZ, IHE, FXI, ICF, IYH, IEV, MXI, SLV, IEO, EWC, EEM, EWI, EWY, EWU, DBA, PXJ, PHO, GLD, XLI, XLB, XRT, XAR, 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
APDUgly double bottom      06/01/202306/22/2023Chemical (Diversified)
BALLDouble Bottom, Adam and Adam      06/01/202306/08/2023Packaging and Container
BBYUgly double bottom      05/24/202306/23/2023Retail (Special Lines)
BIGFlag, high and tight      05/31/202306/27/2023Retail Store
BIIBDouble Top, Eve and Adam      05/05/202306/12/2023Biotechnology
BKNGDiamond top      04/18/202306/22/2023Internet
CGNXDouble Top, Adam and Eve      06/02/202306/13/2023Precision Instrument
CSGSUgly double bottom      05/31/202306/26/2023IT Services
CMIUgly double bottom      05/31/202306/23/2023Machinery
WIREDouble Bottom, Adam and Eve      06/15/202306/23/2023Metals and Mining (Div.)
FDXBroadening top      05/01/202306/16/2023Air Transport
FISVUgly double bottom      05/31/202306/21/2023IT Services
GSBroadening bottom      05/04/202306/01/2023Securities Brokerage
HSICDouble Bottom, Adam and Eve      05/09/202305/31/2023Medical Supplies
HNIRising wedge      05/19/202306/29/2023Furn/Home Furnishings
ILMNTriangle, symmetrical      05/24/202306/16/2023Biotechnology
NSPPipe top      06/05/202306/12/2023Human Resources
IBKRThree Rising Valleys      05/04/202306/13/2023Securities Brokerage
MTRNUgly double bottom      05/31/202306/23/2023Metals and Mining (Div.)
NOCDouble Top, Eve and Eve      06/09/202306/21/2023Aerospace/Defense
OUTTriangle, ascending      04/10/202304/25/2023Advertising
PFEDouble Top, Adam and Eve      05/23/202306/13/2023Drug
PPGPipe bottom      05/22/202305/30/2023Chemical (Diversified)
ROPThree Rising Valleys      03/15/202305/25/2023Industrial Services
SAICUgly double bottom      05/25/202306/26/2023IT Services
SKXPipe top      06/05/202306/12/2023Shoe
TDOCPipe bottom      05/22/202305/30/2023Healthcare Information
TPXPipe bottom      05/30/202306/05/2023Furn/Home Furnishings
TXTUgly double bottom      05/31/202306/23/2023Diversified Co.
TSCOBroadening top, right-angled and ascending      06/08/202306/28/2023Retail Building Supply
TZOOPipe top      06/05/202306/12/2023Internet
VLOPipe bottom      05/30/202306/05/2023Petroleum (Integrated)
WLKHead-and-shoulders bottom      04/26/202306/23/2023Chemical (Basic)

 

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Thursday 6/29/23. Intraday Market Direction: Nasdaq

The Nasdaq climbed by 0.3% or 36.08 points. Since 02/05/1971 the Nasdaq made 672 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 368 occasions.
     Average loss was -0.6% on 304 occasions.
Expect the Nasdaq to close higher 54.8% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 260/456 or 57.0% 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.

Not much is happening on the chart, so I drew some lines to make it look busy.

Notice the height of A above the red line. Compare that to the height of B to the red line. They are almost the same. That's called the measure rule for trendlines. See the link for an in depth explanation.

The red line is a trendline connecting the valleys. It shows support.

The blue line connects the peak at C and I drew it horizontally from there. It shows resistance. Could the index touch the blue line and drop like it did at C (and on Friday and on the first peak a week ago Wednesday)?

The answer is hard to say but my guess is we could be in for several days of a sideways move, mirroring the sideways move from last Wednesday to A (3 days). Often these mirrors look nice when they work, but there are lots of exceptions. Maybe this will be one of them.

$ $ $

Here's a symbol list of 121 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ABT, ALKS, APA, ATR, ARW, AIZ, AGO, ATO, AVY, BSET, BZH, BCO, BMY, BBW, CNP, CDAY, CF, CHKP, CLNE, CGNX, CMCO, CMTL, ED, CAG, CRH, CCK, CSGS, ^DJU, DOV, DTE, BOOM, EQT, EVRG, FDS, FICO, FE, FISV, FTNT, FDP, GE, GIS, GPN, GGG, GES, THG, HLIT, HIG, HE, HQY, HSY, HON, HOV, INCY, INTC, JAZZ, JNJ, KMT, KFRC, LANC, LLY, LMT, MDT, MRK, MU, NTGR, JWN, NOC, ORCL, OR, PATK, PAYX, PRFT, PFE, POR, REGN, RGS, RNG, ROL, SAIA, SEE, SO, SWX, SWN, SUM, TRGP, TFX, TKR, TSCO, TDG, TZOO, TG, UNH, WDAY, IAI, ICF, EWK, EWZ, EWG, EWP, THD, EWU, DBA, GLD, XLI, 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 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  11,845.67    
 Monthly S1  12,718.71  873.04   
 Monthly Pivot  13,288.89  570.18   
 Weekly S2  13,311.88  22.99   
 Daily S2  13,422.13  110.25   
 Weekly S1  13,451.81  29.68   
 Low  13,495.73  43.92   
 Open  13,506.02  10.29   Yes! The Open is close to the Low.
 Daily S1  13,506.94  0.92   Yes! The Daily S1 is close to the Open.
 61.8% Down from Intraday High  13,556.24  49.30   
 50% Down from Intraday High  13,574.93  18.69   
 Daily Pivot  13,580.54  5.61   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Weekly Pivot  13,581.50  0.96   Yes! The Weekly Pivot is close to the Daily Pivot.
 Close  13,591.75  10.25   Yes! The Close is close to the Weekly Pivot.
 38.2% Down from Intraday High  13,593.63  1.88   Yes! The 38.2% Down from Intraday High is close to the Close.
 High  13,654.14  60.51   
 Daily R1  13,665.35  11.21   Yes! The Daily R1 is close to the High.
 Weekly R1  13,721.43  56.08   
 Daily R2  13,738.95  17.52   
 Weekly R2  13,851.12  112.17   
 Monthly R1  14,161.93  310.81   
 Monthly R2  14,732.11  570.18   

Wednesday 6/28/23. 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 has turned bullish as the vertical green bar shows on the chart. That's no surprise given that the markets were up today (Tuesday, over 1% point).

This upswing suggests the recent retrace has ended and we'll see new highs shortly.

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, 38% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 37%.
The fewest was 31% on 02/02/2023.
And the most was 78% on 09/26/2022.
Shown as a blue line on the above chart...
The 521 stocks in my database are down an average of 17% from their yearly high.
A week ago, the average was 18%.
The peak was 16% on 02/02/2023.
And the bottom was 34% on 09/30/2022.

The red line shows weakness and the blue line shows strength compared to a week ago.

The red line since October has been trending higher, but has been weak since February.

This chart has a mixed signal but the CPI chart is more reliable and it's bullish. So I'm looking for the indices to continue rising.

$ $ $

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: MMM, ABT, ABM, AYI, ADTN, AEO, AEL, ARCB, ASH, AIZ, AGO, BZH, BERY, BIG, BBW, CDNS, CDAY, CHKP, CHS, CLNE, CGNX, CTSH, CL, CMTL, CXW, COST, CR, BOOM, ECL, EPAM, EXPI, XOM, EZPW, FDS, FIS, FWRD, GIS, GILD, GPN, HLIT, HAYN, HTLD, HL, HSII, HOLX, HOV, HUBG, ILMN, INCY, INFN, IBP, INTC, IPAR, NVTA, IRM, JAZZ, JBLU, JNJ, KFRC, LAMR, LANC, MHO, MTSI, M, MKTX, MSFT, NTGR, NEU, NEE, NTNX, OMC, OR, OUT, OMI, PATK, PAYX, PCTY, PFE, PINC, PFG, DGX, REGN, RNG, ROP, RES, SAIA, SAND, SMG, SWX, SWN, TRGP, TECH, TFX, TDC, TER, TKR, TJX, TG, UHAL, UIS, UPS, UNH, VMI, VECO, VC, WAT, WWD, IAI, DDM, IYH, MXI, IGE, EWK, EWZ, EWC, EEM, EWQ, EWH, EWS, EWY, EWL, EWT, THD, PJP, PHO, GLD, 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.

-- Thomas Bulkowski

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Tuesday 6/27/23. Slider Trading Quiz!

The Dow dropped by 0.0% or -12.72 points. Since 10/01/1928 the Dow made 1361 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 735 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 264/480 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 Varian Semiconductor: VSEA stock.

$ $ $

Here's a symbol list of 110 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, AMD, ALKS, AMZN, AEO, AMGN, AMN, AAPL, AMAT, AXS, BSET, BZH, BIIB, BBW, CLS, CNC, CNP, CF, CHS, CNO, CGNX, CMTL, COTY, CROX, DDS, BOOM, XOM, EZPW, FTNT, FWRD, IT, GIS, GILD, GFS, GS, GES, THG, HLIT, HL, HP, HOLX, HURC, ITW, NSP, PODD, INTU, JNJ, KBH, KELYA, LZB, LH, LRCX, LEG, LDOS, LEN, LLY, LPLA, MTSI, MAN, MLM, MTDR, MRCY, MLI, NKE, NOC, NTNX, ASGN, PKG, PATK, PFE, RTX, RNG, RES, R, SMG, SKX, SWX, SWN, SPLK, RIG, TG, UIS, UPS, MDRX, V, VMC, WU, WOLF, IEZ, IYZ, IGE, EWO, EWK, EWC, EIS, EWL, THD, XAR, XLK, UNG, 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.

$ $ $

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  31,627.86    
 Monthly S1  32,671.29  1,043.42   
 Weekly S2  33,295.79  624.50   
 Weekly S1  33,505.25  209.46   
 Daily S2  33,505.67  0.43   Yes! The Daily S2 is close to the Weekly S1.
 Daily S1  33,610.19  104.52   
 Low  33,610.32  0.13   Yes! The Low is close to the Daily S1.
 Monthly Pivot  33,629.98  19.66   Yes! The Monthly Pivot is close to the Low.
 61.8% Down from Intraday High  33,690.22  60.24   
 Close  33,714.71  24.49   
 Daily Pivot  33,714.84  0.13   Yes! The Daily Pivot is close to the Close.
 50% Down from Intraday High  33,714.91  0.07   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 Open  33,730.79  15.88   Yes! The Open is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  33,739.59  8.80   Yes! The 38.2% Down from Intraday High is close to the Open.
 Daily R1  33,819.36  79.77   
 High  33,819.49  0.13   Yes! The High is close to the Daily R1.
 Weekly Pivot  33,855.95  36.46   
 Daily R2  33,924.01  68.06   
 Weekly R1  34,065.42  141.41   
 Weekly R2  34,416.13  350.71   
 Monthly R1  34,673.41  257.28   
 Monthly R2  35,632.10  958.70   

Monday 6/26/23. Market Monday: The Week Ahead

My Prediction

Picture of the Nasdaq on the daily scale.

I show the Nasdaq composite on the daily scale. Not much is happening on the chart.

I drew a channel, outlined here in red, that the index has been following for four months now.

What does it mean?

Notice that the index is near the top of the channel. If the index behaves like it has in the past, then it'll bounce off the top line and drop to the lower one. That's why channels are useful (because they can show direction).

Indeed, you can see the index coming down now. I expect that retrace to continue.

However, it might not. In some cases, the index will drop to about midway across the channel and then rise again, perhaps staging an upward breakout.

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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.

Tuesday: Down 245.25 points.
Wednesday: Down 102.35 points.
Thursday: Down 4.81 points.
Friday: Down 219.28 points.
Saturday: Holiday or other weird event!

For the Week...

The Dow industrials were down 571.69 points or 1.7%.
The Nasdaq composite was down 197.05 points or 1.4%.
The S&P 500 index was down 61.26 points or 1.4%.

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
     2.6% down from the high of 13,859.07 on 06/16/2023.
     31.4% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     2.3% down from the high of 4,448.47 on 06/16/2023.
     14.6% 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  33,547  33,637  33,737  33,827  33,926 
Weekly  33,300  33,514  33,860  34,074  34,420 
Monthly  31,632  32,680  33,634  34,682  35,636 
S&P500 (^GSPC): Daily  4,327  4,338  4,352  4,363  4,377 
Weekly  4,304  4,326  4,363  4,385  4,422 
Monthly  3,956  4,152  4,300  4,497  4,645 
Nasdaq (^IXIC): Daily  13,373  13,433  13,502  13,562  13,632 
Weekly  13,279  13,386  13,548  13,655  13,818 
Monthly  11,813  12,653  13,256  14,096  14,699 

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 146 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AMD, ALB, AEO, AEP, AMGN, AMN, APOG, ASH, ADSK, AVNT, AXS, CLS, CNC, CENX, CDAY, CVX, CHS, CNO, CGNX, CL, COP, CR, CTS, DVN, D, DOV, DRQ, DTE, BOOM, EXP, EOG, EZPW, FDS, FNV, FRD, IT, GE, GILD, GS, GPRO, THG, HLIT, HE, HAYN, HL, HP, HURC, NSP, IPAR, JAZZ, JNJ, KMT, KEYS, LZB, LH, LEG, LEN, MDC, MS, NTNX, OXY, OUT, OMI, OXM, PATK, PDCO, PXD, PLXS, PPG, RL, RGS, RNG, ROP, ROST, SCHW, SMG, SIGI, STR, SKX, SWX, SPLK, SSYS, SUM, TFX, TJX, RIG, UIS, WU, ZBRA, IAI, IYK, IYE, DDM, FXI, BOTZ, IYZ, IEV, IXC, MXI, IGE, IYF, EWA, EWO, EWK, EWC, EEM, EWG, EWH, EIS, EWJ, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWT, THD, EWU, PEJ, PXJ, PJP, ROBO, XLP, XLE. 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. Internet4. Internet
5. Semiconductor Cap Equip.5. Computer Software and Svcs
6. Cement and Aggregates6. Semiconductor Cap Equip.
7. Computer Software and Svcs7. Shoe
8. Retail Building Supply8. Cement and Aggregates
9. Air Transport9. Air Transport
10. Electronics10. Electronics
Best Performing AboveWorst Performing Below
50. Telecom. Equipment50. Food Processing
51. Securities Brokerage51. Electric Utility (Central)
52. Electric Utility (East)52. Insurance (Life)
53. Petroleum (Integrated)53. Petroleum (Integrated)
54. Medical Services54. Electric Utility (East)
55. Insurance (Life)55. Natural Gas (Distributor)
56. Petroleum (Producing)56. Petroleum (Producing)
57. Natural Gas (Diversified)57. Medical Services
58. Natural Gas (Distributor)58. Natural Gas (Diversified)
59. Short ETFs59. Short ETFs
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 6/23/23. Pattern Trading Setups for the Weekend.

$ $ $

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: ABM, AXDX, ACN, AYI, ADTN, AMD, AEE, AIG, AMN, AMAT, AWI, ATO, AVA, BCPC, BA, BBW, CBT, CALM, CLS, CNC, CHS, CHD, CIEN, CLF, CNA, CNO, CGNX, CTSH, CMCO, CONN, CR, CTS, FANG, D, DOV, DRQ, BOOM, EOG, EVRG, EXC, EZPW, FFIV, FTV, FWRD, FNV, FDP, GL, GS, GPRO, HIG, HE, HL, HP, IDA, IEX, ITW, INFN, NSP, IPAR, IPG, IRM, LH, LRCX, LANC, MGY, MRO, MRK, META, MS, NFG, NJR, NWL, NUS, NTNX, OGE, OUT, OMI, PKE, PATK, PDCO, PRFT, PFE, PLXS, POR, PPG, RL, RGS, RNG, SAND, SCHW, SMG, SRE, STR, SKX, SWX, SPSC, SXI, TFX, TER, TEVA, RIG, WU, ZBRA, IAI, IHE, FXI, IAT, IYZ, SLV, IGE, IEO, EWA, EWO, EWK, EPP, EZA, THD, XLY, GLD, XAR. 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

Top

 

 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ADTNScallop, descending      03/31/202306/16/2023Telecom. Equipment
AMDDouble Top, Adam and Adam      05/30/202306/13/2023Semiconductor
ALGTThree Rising Valleys      12/22/202205/31/2023Air Transport
BRCTriangle, symmetrical      05/31/202306/22/2023Chemical (Diversified)
CALMTriple top      05/05/202306/16/2023Food Processing
CEDouble Top, Adam and Eve      06/08/202306/14/2023Chemical (Basic)
CAGDiamond bottom      05/25/202306/16/2023Food Processing
CXWTriangle, ascending      04/14/202306/22/2023Industrial Services
XRAYUgly double bottom      05/31/202306/15/2023Medical Supplies
DOVHead-and-shoulders top      04/11/202304/24/2023Machinery
FLSRoof      06/08/202306/22/2023Machinery
GOOGLHead-and-shoulders top      05/22/202306/16/2023Internet
KTriangle, symmetrical      06/05/202306/22/2023Food Processing
LXUUgly double bottom      05/04/202305/17/2023Building Materials
MTSITriangle, symmetrical      05/24/202306/20/2023Semiconductor
PKEUgly double bottom      05/11/202306/12/2023Chemical (Specialty)
RNGDouble Top, Adam and Eve      06/01/202306/16/2023Computer Software and Svcs
ROLPipe bottom      05/22/202305/30/2023Industrial Services
RTriangle, symmetrical      04/27/202306/22/2023Trucking/Transp. Leasing
SRDXFlag, high and tight      05/25/202306/22/2023Medical Supplies
UISTriangle, symmetrical      05/23/202306/22/2023Computers and Peripherals
XLFBroadening bottom      05/31/202202/08/2023Financial Services

 

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Thursday 6/22/23. Cryptocurrency Ethereum (ETH-USD)

The Nasdaq dropped by -1.2% or -165.09 points. Since 02/05/1971 the Nasdaq made 131 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.3% on 56 occasions.
     Average loss was -1.4% on 75 occasions.
Expect the Nasdaq to close lower 57.3% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 260/456 or 57.0% of the time.
     The prediction of the Nasdaq closing lower has been right 72/151 or 47.7% 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 Ethereum.

$ $ $

I show a picture of Ethereum on the daily scale.

Ethereum broke through support, which I show as a red line. Ignore the spikes down through the line where it fails to show support, but rather the general tendency of the currency to remain above the line that illustrates support.

Compare the height of A to the red line versus the red line to the low at B. They look nearly the same height. That's called the measure rule for trendlines.

Don't get too excited. It rarely works. Will the move from B to the red line mirror the rise up to C? It's close now. My guess is no, it won't. Why? Because as soon as you recognize a pattern and try to depend on it, the rule fails.

In this case, the crypto could just blow through the target and continue higher...or not. My guess? Yes, it'll continue to rise past the height of A, maybe reaching the height of the peak to the left of A (the May peak).

$ $ $

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: MMM, AXDX, ACIW, ADBE, AMD, AJRD, AMED, AEO, AEP, AXP, AFG, AMN, AIZ, AVY, BMI, BSET, BMRN, BA, BMY, BG, CALM, CNC, CNP, CHS, CIEN, CLNE, CNO, CGNX, CMCO, COTY, CR, CW, XRAY, DSGR, ^DJI, EMN, EFX, FDS, FLS, FNV, FDP, GME, GD, GNW, GS, HE, HL, HSIC, HNI, JBHT, HUN, INFN, NSP, IIIN, INTC, TILE, IPI, KALU, KMT, LZB, LH, LDOS, RAMP, LOW, MAN, MA, MTRX, MRK, MOS, NTGR, NWL, NEE, NI, NOC, NOVT, NTNX, OLN, OR, OXM, PATK, PDCO, PTEN, RJF, RTX, REGN, RGS, RNG, RLI, ^GSPC, SAIA, SAND, SAIC, SMG, SRE, SKX, SO, SWX, SPLK, SRDX, TRGP, TDY, TPX, TXT, RIG, UGI, UNH, V, WPM, WDAY, ZBRA, ITA, IAI, DDM, QTEC, FXI, BOTZ, ICF, IYZ, MXI, IXN, SLV, EWO, EWK, EWH, EIS, EWM, EZA, EWY, EWP, EWT, THD, TUR, IBB, PPA, SSO, ROBO, GLD, XRT, 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 Nasdaq composite, 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  11,540.79    
 Monthly S1  12,521.50  980.70   
 Weekly S2  12,998.13  476.63   
 Monthly Pivot  13,190.28  192.16   
 Weekly S1  13,250.16  59.88   
 Daily S2  13,356.27  106.11   
 Daily S1  13,429.24  72.96   
 Low  13,460.94  31.70   
 Close  13,502.20  41.26   
 61.8% Down from Intraday High  13,528.79  26.59   
 Daily Pivot  13,533.90  5.11   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  13,549.75  15.85   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 Weekly Pivot  13,554.62  4.86   Yes! The Weekly Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  13,570.71  16.10   Yes! The 38.2% Down from Intraday High is close to the Weekly Pivot.
 Daily R1  13,606.87  36.15   
 Open  13,620.87  14.00   Yes! The Open is close to the Daily R1.
 High  13,638.57  17.70   Yes! The High is close to the Open.
 Daily R2  13,711.53  72.96   
 Weekly R1  13,806.65  95.12   
 Weekly R2  14,111.11  304.45   
 Monthly R1  14,170.99  59.88   
 Monthly R2  14,839.77  668.79   

Wednesday 6/21/23. 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 has turned bearish, as the red vertical bar on the far right of the chart shows. After such as swift move up in the last 2 weeks, a retrace is expected.

So this chart is bearish, but only mildly so. In other words, I'm expecting a retrace not a longer-term change in trend.

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, 37% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 37%.
The fewest was 31% on 02/02/2023.
And the most was 78% on 09/26/2022.
Shown as a blue line on the above chart...
The 521 stocks in my database are down an average of 18% from their yearly high.
A week ago, the average was 17%.
The peak was 16% on 02/02/2023.
And the bottom was 34% on 09/30/2022.

The blue line is slightly worse this week compared to a week ago. That's the only hint of weakness that I could find on this chart.

With the prior chart suggesting a retrace and this chart only hinting of a downturn, I expect the CPI chart to be the better predictor. So I'm looking for the index to drop more, maybe for a week to 10 days.

$ $ $

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: AA, AMED, AMN, ANIK, AGO, AVA, BSET, BECN, BIG, BA, BBW, BG, CBT, CALM, CE, CVX, CHS, CHD, CNO, CGNX, ED, CONN, CSGP, COST, CROX, CTS, FANG, DDS, D, BOOM, EIX, EPAM, EXC, EXPI, XOM, FDS, FLEX, FORM, FNV, GMS, GGG, HBI, HL, HELE, HOLX, HWM, INCY, INFN, INTC, JBLU, KBH, K, KMB, LH, LAMR, LEG, L, MANH, MLM, MTDR, MTRN, MDC, MGEE, MU, MOS, NTGR, NWL, JWN, NWPX, NTNX, OR, OXM, PATK, PCG, PG, RNG, RCKY, CRM, SMG, SHOP, SLGN, SKYW, SWX, TGT, TREX, SLCA, UGI, UNH, VRTX, WMT, WERN, WPM, WSM, WWW, WWD, IYK, FXI, IXC, SOXX, SLV, IGE, EWJ, EWT, THD, GLD, XAR, 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.

-- Thomas Bulkowski

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Tuesday 6/20/23. Slider Trading Quiz!

The Dow dropped by -0.3% or -108.94 points. Since 10/01/1928 the Dow made 1086 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 515 occasions.
     Average loss was -0.7% on 571 occasions.
Expect the Dow to close lower 52.6% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 264/480 or 55.0% of the time.
     The prediction of the Dow closing lower has been right 50/107 or 46.7% of the time.

$ $ $

New research! Can we predict the breakout (by knowing the trend start and width)? The short answer is: No.

$ $ $

I show another slider trading quiz featuring Verisign: VRSN stock.

$ $ $

Here's a symbol list of 172 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ABM, AA, AEL, AME, AMN, AR, AON, ANET, ADSK, AXS, BSET, BAX, BZH, BIG, BA, BKNG, BOOT, CDNS, CALM, CDAY, CHKP, CVX, CHS, CTAS, CLNE, CNO, CGNX, CL, CMTL, ED, CONN, GLW, COST, COTY, CR, CRH, CROX, CW, XRAY, DDS, DSGR, DOV, BOOM, EPAM, EVH, XOM, FDS, FDX, FORM, FTNT, FDP, GE, GNW, GMS, GFF, HSC, HELE, HD, HURC, INFN, K, KMB, LH, LRCX, LLY, LPLA, MTSI, MANH, MCHX, MTDR, MTRN, MTRX, MU, NBR, ^IXIC, NFLX, NTGR, NWL, NEE, NKE, JWN, NTNX, ORI, ASGN, OTEX, OR, OXM, PATK, PCTY, PCG, PEG, RNG, SCHW, SHW, SHOP, STR, SO, SWX, SWN, SCS, SUM, SNPS, TGT, TPX, TZOO, TG, UIS, UNH, VLO, WMT, WEX, WSM, WSC, WWW, IYK, IYC, DDM, FTEC, QTEC, FXL, FXI, ICF, IEV, IXN, SOXX, IHI, EWA, EWK, EWC, EEM, EWQ, EWH, EWI, EWJ, EWM, EPP, EWS, EZA, EWD, EWL, EWU, IBB, PPA, DBA, PXJ, PJP, ROBO, XRT, XAR, SMH, 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.

$ $ $

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  31,822.67    
 Monthly S1  33,060.89  1,238.23   
 Weekly S2  33,418.65  357.76   
 Monthly Pivot  33,824.79  406.13   
 Weekly S1  33,858.89  34.10   
 Daily S2  34,088.17  229.29   
 Daily S1  34,193.65  105.48   
 Weekly Pivot  34,223.79  30.14   Yes! The Weekly Pivot is close to the Daily S1.
 Low  34,285.69  61.91   
 Close  34,299.12  13.43   Yes! The Close is close to the Low.
 Daily Pivot  34,391.16  92.04   
 61.8% Down from Intraday High  34,401.43  10.27   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High  34,437.18  35.75   
 Open  34,464.02  26.84   Yes! The Open is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  34,472.94  8.92   Yes! The 38.2% Down from Intraday High is close to the Open.
 Daily R1  34,496.64  23.70   Yes! The Daily R1 is close to the 38.2% Down from Intraday High.
 High  34,588.68  92.04   
 Weekly R1  34,664.02  75.34   
 Daily R2  34,694.15  30.14   Yes! The Daily R2 is close to the Weekly R1.
 Weekly R2  35,028.91  334.76   
 Monthly R1  35,063.01  34.10   
 Monthly R2  35,826.91  763.89   

Friday 6/16/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 170 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABM, AFL, A, ALL, AMZN, AMED, AEO, AMWD, AME, AMN, APOG, ATR, AZTA, BAX, BERY, BIO, BMRN, BA, BSX, BRC, BR, BBW, CDNS, CDAY, CRL, CNO, CGNX, CTSH, CMCO, GLW, COTY, CCK, DHR, DSGR, ^DJI, DOV, BOOM, EXP, EMN, EBAY, ECL, EME, EFX, EL, EZPW, FFIV, FDS, FARO, FDX, FIS, FIVN, FTNT, FNV, GFS, GGG, THG, HSC, HQY, HL, HELE, JBHT, HUN, IEX, ITW, ILMN, INCY, IIIN, ITGR, TILE, IPG, INTU, NVTA, KEYS, MCHX, MLM, MTRX, MCO, MS, NBR, NOV, NEWR, NTNX, OMC, OR, OMI, PKG, PATK, PYPL, PRFT, PCG, PINC, PFG, QTWO, RGA, RNG, ROK, RES, R, SEIC, SCCO, SWX, SWN, SR, TGT, TDY, TPX, TXT, TKR, TSCO, TG, UHAL, VLO, MDRX, VRSN, V, VMC, WAT, WERN, WU, WWD, ZBRA, IYC, IHE, DDM, FXI, ICF, IHF, IYZ, MXI, IYF, IHI, EWC, EEM, EIS, EWM, EWS, EZA, EWY, EWU, IBB, PPA, DBA, PEJ, PXJ, PJP, PHO, ROBO, XLY, XLF, XLI, XRT, UNG, 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.

$ $ $

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

Top

 

 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ABTDouble Bottom, Adam and Eve      05/31/202306/09/2023Medical Supplies
BERYUgly double bottom      05/03/202305/12/2023Packaging and Container
BMRNPipe bottom      05/22/202305/30/2023Biotechnology
BRPipe bottom      05/22/202305/30/2023Information Services
CENXUgly double bottom      05/11/202305/31/2023Metals and Mining (Div.)
CMTLHorn top      05/15/202305/30/2023Telecom. Equipment
GLWDouble Bottom, Eve and Adam      05/16/202305/31/2023Telecom. Equipment
DVNDouble Bottom, Adam and Eve      05/16/202305/31/2023Natural Gas (Diversified)
ECLPipe bottom      05/22/202305/30/2023Chemical (Specialty)
EXPIFlag, high and tight      04/26/202306/12/2023E-Commerce
EXPDThree Rising Valleys      03/24/202306/01/2023Air Transport
FISTriangle, symmetrical      04/27/202306/15/2023Computer Software and Svcs
GPSDouble Bottom, Adam and Adam      05/16/202305/25/2023Apparel
GNWDouble Top, Eve and Eve      05/19/202306/08/2023Insurance (Life)
GMSDiamond top      05/19/202306/05/2023Cement and Aggregates
JBHTTriangle, symmetrical      03/06/202306/15/2023Trucking/Transp. Leasing
KALUTriple bottom      05/04/202305/31/2023Metals and Mining (Div.)
LAMRPipe bottom      05/22/202305/30/2023Advertising
LDOSHead-and-shoulders bottom      05/04/202306/01/2023IT Services
LENPipe bottom      05/22/202305/30/2023Homebuilding
MCHXPipe bottom      05/08/202305/15/2023Advertising
MDTDouble Bottom, Eve and Eve      05/26/202306/07/2023Medical Supplies
MCORounding bottom      02/02/202306/08/2023Information Services
OMCMulti-peaks      01/25/202306/15/2023Advertising
PDCODouble Bottom, Eve and Adam      05/09/202305/31/2023Medical Supplies
PCTYUgly double bottom      05/05/202306/01/2023E-Commerce
PYPLUgly double bottom      05/26/202306/09/2023Financial Services
PRUTriple bottom      05/04/202305/31/2023Insurance (Life)
ROGRectangle top      03/01/202306/15/2023Electronics
RESBroadening bottom      05/08/202306/13/2023Oilfield Svcs/Equipment
SAIAUgly double bottom      04/26/202305/24/2023Trucking/Transp. Leasing
SHWTriple bottom      05/16/202305/31/2023Chemical (Basic)
SCCOPipe bottom      05/22/202305/30/2023Metals and Mining (Div.)
LUVHead-and-shoulders bottom      04/27/202305/24/2023Air Transport
SWXRounding bottom      03/30/202306/15/2023Natural Gas (Distributor)
SRDXDouble Bottom, Adam and Adam      03/20/202305/25/2023Medical Supplies
TGTDouble Bottom, Adam and Adam      06/01/202306/12/2023Retail Store
TKRFalling wedge      05/03/202306/01/2023Metal Fabricating
UPSTriple bottom      05/16/202306/06/2023Air Transport
VLODouble Bottom, Adam and Eve      05/04/202306/06/2023Petroleum (Integrated)
VRTXDouble Bottom, Eve and Adam      06/01/202306/08/2023Biotechnology
WATDouble Bottom, Adam and Eve      05/31/202306/09/2023Precision Instrument

 

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Thursday 6/15/23. Intraday Market Direction: Nasdaq

The Nasdaq climbed by 0.4% or 53.16 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 399 occasions.
     Average loss was -0.9% on 232 occasions.
Expect the Nasdaq to close higher 63.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 259/455 or 56.9% of the time.
     The prediction of the Nasdaq closing lower has been right 72/151 or 47.7% 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 didn't scour the chart looking for patterns, but I did notice a broadening top chart pattern, highlighted in red.

I extended the bottom line because I felt like it. The index has pushed through the top of the pattern, dropped back to snag the bottom line, before rebounding.

If I extend the top trendline, it would come close to or even touch the most recent peak. That suggests the index will retrace (bouncing off overhead resistance). It's like being swatted with a rolled up newspaper.

Maybe not, but with the FED holding steady, there's some justification for the index to push through, upward. Either that, or the good news of the FED keeping rates steady was already factored in and the index will drop. Take your pick.

$ $ $

Here's a symbol list of 204 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, ATSG, ALRM, ALB, AA, ALL, AMED, AEL, AIG, AMN, AR, APA, ADM, AGO, ADSK, ADP, BMI, BZH, BIO, BA, BMY, BR, BRKR, CF, CLX, CNO, CGNX, CL, CMCO, CAG, CONN, CXW, COST, CRH, CCK, CSGS, XRAY, DDS, DSGR, ^DJT, DTE, BOOM, EBAY, EQT, EL, EVRG, EZPW, FDX, FIS, FISV, FIVN, FLS, FTNT, FRD, GL, GS, GPRO, GFF, GES, THG, HSC, HIG, HAYN, HQY, HL, HSII, HP, HSIC, HSY, HOLX, HWM, INCY, IBP, IIIN, ISRG, NVTA, JNJ, KALU, KELYA, KMT, KLAC, LAMR, LEN, L, LPLA, LXU, MGY, MCHX, MTDR, MDT, MRCY, MU, MLKN, MLI, NTGR, NTAP, NWL, NEE, NKE, NWPX, NOVT, NTNX, OLN, OMC, OR, OMI, PKE, PATK, PTEN, PEN, PFE, PNW, PLXS, PPG, PINC, KWR, RRC, RJF, RNG, ROG, RES, SLB, SMG, LUV, SWX, SWN, SR, SSYS, TPR, TFX, TPX, TXT, TMO, TKR, TRV, TZOO, TREX, VLO, VEEV, MDRX, WRB, WMT, WLK, WEX, WSM, WSC, WWD, IEZ, FTEC, FDN, QTEC, FXI, ICF, IAT, MXI, IXN, ILF, SOXX, IHI, EWK, EEM, EWG, EWI, EWW, EZA, EWP, TUR, EWU, IBB, PPA, DBA, PBE, PEJ, XLP, XLF, GLD, XHB, XLI, XRT, XAR, XLK, 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 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

Top

© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  11,705.82    
 Monthly S1  12,666.15  960.33   
 Monthly Pivot  13,026.05  359.90   
 Weekly S2  13,070.83  44.78   
 Weekly S1  13,348.66  277.82   
 Weekly Pivot  13,367.30  18.65   Yes! The Weekly Pivot is close to the Weekly S1.
 Daily S2  13,375.65  8.35   Yes! The Daily S2 is close to the Weekly Pivot.
 Low  13,455.99  80.34   
 Daily S1  13,501.07  45.08   
 61.8% Down from Intraday High  13,534.59  33.52   
 50% Down from Intraday High  13,558.87  24.28   
 Open  13,570.56  11.69   Yes! The Open is close to the 50% Down from Intraday High.
 Daily Pivot  13,581.40  10.84   Yes! The Daily Pivot is close to the Open.
 38.2% Down from Intraday High  13,583.14  1.74   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  13,626.48  43.34   
 Weekly R1  13,645.13  18.65   Yes! The Weekly R1 is close to the Close.
 High  13,661.74  16.61   Yes! The High is close to the Weekly R1.
 Weekly R2  13,663.77  2.03   Yes! The Weekly R2 is close to the High.
 Daily R1  13,706.82  43.04   
 Daily R2  13,787.15  80.34   
 Monthly R1  13,986.38  199.23   
 Monthly R2  14,346.28  359.90   

Wednesday 6/14/23. 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 shows a bullish signal. The index is moving higher seemingly each day. The FED, tomorrow, could change that, of course. I thought the next meeting was in a month but they report tomorrow.

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, 34% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 38%.
The fewest was 31% on 02/02/2023.
And the most was 80% on 06/17/2022.
Shown as a blue line on the above chart...
The 522 stocks in my database are down an average of 17% from their yearly high.
A week ago, the average was 19%.
The peak was 16% on 02/02/2023.
And the bottom was 34% on 09/30/2022.

Both lines (red and blue) this week are bullish compared to a week ago.

The index is making new highs. The red line is trending higher and has been rising since October 2022 in a stair-step fashion.

Both charts this week are bullish and I believe that this signals the market's confidence that the FED will hold rates steady tomorrow. If not, look for the markets to make a sharp one-day drop, probably several hundreds points.

$ $ $

Here's a symbol list of 217 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACN, ACIW, AYI, ADTN, AMD, AFL, APD, ALB, AYX, AXP, AMN, BMI, BZH, BERY, BBY, BMRN, BA, BOOT, BR, BRKR, BBW, CDNS, CALM, CX, CNC, CENX, CDAY, CF, CHD, CI, CLNE, CLF, CLX, CNA, CNX, CGNX, CMTL, CXW, CSGP, COTY, CR, CROX, CCRN, CCK, DHR, DECK, XRAY, FANG, DSGR, DTE, BOOM, ECL, EMR, EPAM, EQT, RE, EVH, FARO, FAST, FIVN, FLS, FNV, FCX, GME, GE, GIS, GNW, GILD, GFS, GPRO, HSC, HAYN, HQY, HOLX, HURC, IDA, ITW, ILMN, IBP, IIIN, ITGR, ISRG, NVTA, JAZZ, JNJ, KBH, LHX, LH, LAMR, LEN, LMT, LOW, LXU, M, MGY, MRO, MCHX, MTRX, MDT, MRCY, MU, MCO, NBR, NOV, NFLX, NTAP, NTNX, NVDA, OMC, PATK, PDCO, PPG, PPL, PG, PGR, PHM, KWR, QCOM, RRC, RTX, REGN, RNG, ROK, ROL, RES, SAND, SCI, NOW, STR, SKYW, SO, SCCO, SWX, SSYS, SRDX, TPR, TECH, TDOC, TPX, TER, TJX, TRV, TZOO, TREX, UHAL, VLO, WMT, WSO, WSC, WOLF, ZBRA, IYM, IYC, IHE, DDM, FXL, FXI, BOTZ, QQQ, IYZ, IEV, SOXX, SLV, EWO, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EPP, EWS, EZA, EWY, EWD, EWT, TUR, PPA, DBA, PBE, PEJ, PXJ, PJP, SSO, ROBO, XLF, GLD, XLI, XRT, SPY, XAR, 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.

-- Thomas Bulkowski

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Tuesday 6/13/23. Slider Trading Quiz!

The Dow climbed by 0.6% or 189.55 points. Since 10/01/1928 the Dow made 892 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 503 occasions.
     Average loss was -0.6% on 389 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 263/479 or 54.9% of the time.
     The prediction of the Dow closing lower has been right 50/107 or 46.7% of the time.

$ $ $

I show another slider trading quiz featuring Verisign 2: VRSN stock.

$ $ $

Here's a symbol list of 147 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACN, AEIS, ATSG, ALGT, DOX, AMN, AON, ATR, ARW, AIZ, BCPC, BIO, BIIB, BMRN, BA, BR, BRKR, BBW, CALM, CX, CNC, CNP, CI, CTAS, CLF, CLX, CNA, CGNX, CMTL, COST, COTY, CR, CROX, CCK, CW, XRAY, DOV, EBAY, ECL, EMR, WIRE, EVH, EXPI, FLS, FCX, FRD, GE, GS, GGG, HAYN, HL, HUN, IDA, IBP, NVTA, JAZZ, KBH, K, KSS, LHX, LAMR, LEN, LOW, M, MAN, MCHX, MTRX, MRCY, MU, MS, NBR, NTAP, NTNX, OLN, ASGN, PDCO, PETS, PNW, PPG, PG, PHM, RMBS, RTX, RGS, RNG, RHI, ROG, ROL, RES, SAND, SEIC, SRE, SHOP, SO, SCCO, LUV, SWX, SR, SPLK, TDOC, TKR, TSCO, RIG, TREX, UHAL, UGI, VRSN, WMT, WAT, WSO, FXI, IYF, EIS, EWJ, EWM, PPA, DBA, XLI, XAR, XLU, UNG, 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  32,153.98    
 Monthly S1  33,110.15  956.18   
 Weekly S2  33,238.15  128.00   
 Monthly Pivot  33,542.74  304.59   
 Weekly S1  33,652.24  109.50   
 Daily S2  33,808.16  155.93   
 Weekly Pivot  33,813.78  5.62   Yes! The Weekly Pivot is close to the Daily S2.
 Low  33,878.46  64.68   
 Open  33,906.80  28.34   
 Daily S1  33,937.25  30.45   
 61.8% Down from Intraday High  33,954.63  17.38   Yes! The 61.8% Down from Intraday High is close to the Daily S1.
 50% Down from Intraday High  33,978.15  23.52   
 38.2% Down from Intraday High  34,001.68  23.53   
 Daily Pivot  34,007.54  5.87   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  34,066.33  58.79   
 High  34,077.84  11.51   Yes! The High is close to the Close.
 Daily R1  34,136.63  58.79   
 Daily R2  34,206.92  70.30   
 Weekly R1  34,227.87  20.95   
 Weekly R2  34,389.41  161.54   
 Monthly R1  34,498.91  109.50   
 Monthly R2  34,931.50  432.58   

Monday 6/12/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow industrials on the daily scale.

The chart shows the Dow industrials on the daily scale.

I highlight a potential head-and-shoulders bottom chart pattern.

I write "potential" because the index has to close above the red neckline, A. Until that happens, you're just looking at squiggles on the price chart.

If it confirms as a valid pattern, then it suggests we'll see a big move upward. I think that'll happen, perhaps when the Federal Reserve reports on their meeting.

Perhaps the move up will begin next week.

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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 199.9 points.
Tuesday: Up 10.42 points.
Wednesday: Up 91.74 points.
Thursday: Up 168.59 points.
Friday: Up 43.17 points.

For the Week...

The Dow industrials were up 114.02 points or 0.3%.
The Nasdaq composite was up 18.37 points or 0.1%.
The S&P 500 index was up 16.49 points or 0.4%.

Year to Date...

Dow Industrials
     1.4% down from the high of 34,342.32 on 01/13/2023.
     7.8% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     0.9% down from the high of 13,385.95 on 06/09/2023.
     29.2% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     0.5% down from the high of 4,322.62 on 06/09/2023.
     13.3% 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  33,692  33,784  33,880  33,972  34,068 
Weekly  33,175  33,526  33,751  34,102  34,326 
Monthly  32,091  32,984  33,480  34,373  34,868 
S&P500 (^GSPC): Daily  4,273  4,286  4,304  4,317  4,335 
Weekly  4,233  4,266  4,294  4,327  4,356 
Monthly  3,998  4,148  4,235  4,386  4,473 
Nasdaq (^IXIC): Daily  13,135  13,197  13,291  13,354  13,448 
Weekly  12,948  13,104  13,245  13,400  13,541 
Monthly  11,583  12,421  12,904  13,741  14,224 

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 166 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADBE, AMD, A, ATSG, ALB, AEE, AMGN, AMN, ASH, AGO, ATO, AVNT, BMRN, BKNG, BOOT, BAH, BFH, BR, BBW, CACI, CDNS, CE, CX, CNC, CDAY, CI, CLF, CNA, CMTL, GLW, COTY, CR, CROX, CCK, XRAY, BOOM, EBAY, ECL, ELV, EMR, WIRE, EOG, EVRG, EVH, EXPI, FFIV, FARO, FLS, FORM, FCX, GD, GL, GES, HLIT, HWM, HUM, HUN, HURC, IEX, IBP, IIIN, INTC, IPG, NVTA, JKHY, JBLU, KBH, KEYS, KLIC, LHX, LRCX, LAMR, LEN, RAMP, LXU, M, MCHX, MTRX, MRK, MU, NBR, NFLX, NWL, NEU, NI, NWPX, NTNX, OLN, ON, PDCO, PAYX, PEN, PFE, PNW, PPG, PHM, KWR, QCOM, DGX, RMBS, RTX, RNG, ROK, RCKY, ROL, R, CRM, SMG, SRE, SCI, SCCO, SWX, TDOC, TKR, TJX, RIG, TREX, UHAL, UGI, VECO, WMT, WSO, WLK, ZBRA, IYC, FXI, IYH, IYZ, IXN, EWZ, EEM, EIS, EWJ, EWW, EZA, EWY, EWP, EWL, EWT, PBE, PXJ, XLY, XLF, XRT, XAR, XLK, XLU, 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. Internet
4. Internet4. Semiconductor Cap Equip.
5. Semiconductor Cap Equip.5. E-Commerce
6. Computer Software and Svcs6. Computer Software and Svcs
7. Cement and Aggregates7. Cement and Aggregates
8. Shoe8. Shoe
9. Advertising9. Electronics
10. Electronics10. Chemical (Specialty)
Best Performing AboveWorst Performing Below
50. Securities Brokerage50. Medical Services
51. Precision Instrument51. Securities Brokerage
52. Chemical (Basic)52. Furn/Home Furnishings
53. Short ETFs53. Human Resources
54. Insurance (Life)54. Chemical (Diversified)
55. Natural Gas (Distributor)55. Insurance (Life)
56. Chemical (Diversified)56. Natural Gas (Distributor)
57. Natural Gas (Diversified)57. Petroleum (Integrated)
58. Medical Services58. Petroleum (Producing)
59. Telecom. Equipment59. Natural Gas (Diversified)
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 6/9/23. Pattern Trading Setups for the Weekend.

$ $ $

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: ACN, ACIW, ATSG, AKAM, ALB, ALGT, AMGN, AMN, ADM, ARW, ASH, ATO, AVNT, BMI, BSET, BIIB, BMRN, BCO, BR, BBW, CE, CX, CNC, CDAY, CHKP, CHS, CI, CSCO, CLF, CNA, CMTL, COP, COTY, CROX, CCK, CSGS, XRAY, DDS, BOOM, EMN, ECL, EMR, EQT, EVRG, EVH, EXPI, FDS, FARO, FISV, FIVN, FLS, FORM, FCX, FRD, GME, IT, GILD, GFF, HE, HAYN, HP, HWM, HUN, ITW, INFN, NSP, IBP, IIIN, IPI, JBLU, KBH, KMT, LHX, LAMR, LEN, LLY, LOW, M, MGY, MANH, MRO, MTRX, MRCY, MU, MCO, NBR, NWL, NEU, NOVT, NTNX, OLN, OMCL, OTEX, PKG, PDCO, PCG, PNW, PPG, PHM, KWR, RTX, REGN, RGA, RNG, ROL, RES, SEE, SCI, SHOP, SMAR, SCCO, SPSC, TDOC, TKR, TG, TREX, TWLO, SLCA, VECO, VEEV, MDRX, VRTX, WMT, WSO, WU, WLK, FXI, IYZ, IEV, IGE, EWQ, EWM, EWS, EWL, PPA, DBA, PXJ, SSO, ROBO, GLD, XLI, XAR, XLU, USO, 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.

$ $ $

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
DDDBig W      05/09/202305/26/2023Electronics
ADTNUgly double bottom      05/09/202305/25/2023Telecom. Equipment
APDBroadening bottom      05/11/202306/08/2023Chemical (Diversified)
ALRMUgly double bottom      05/04/202306/01/2023Computer Software and Svcs
ANIKBroadening top      05/22/202306/06/2023Biotechnology
BOOTDouble Bottom, Eve and Adam      05/19/202306/01/2023Shoe
BAHHead-and-shoulders complex bottom      01/20/202305/25/2023IT Services
BCOUgly double bottom      05/04/202305/31/2023Industrial Services
BRKRDouble Bottom, Adam and Adam      05/24/202305/31/2023Precision Instrument
BBWPipe bottom      05/22/202305/30/2023Retail (Special Lines)
CXPipe bottom      05/22/202305/30/2023Cement and Aggregates
CNCPipe bottom      05/22/202305/30/2023Medical Services
CENXPipe bottom      05/08/202305/15/2023Metals and Mining (Div.)
CIPipe bottom      05/22/202305/30/2023Medical Services
CLFPipe bottom      05/22/202305/30/2023Metals and Mining (Div.)
CNAPipe bottom      05/22/202305/30/2023Insurance (Prop/Casualty)
CNXPipe bottom      04/24/202305/01/2023Natural Gas (Diversified)
COPTriangle, symmetrical      02/10/202306/08/2023Petroleum (Integrated)
COTYPipe bottom      05/22/202305/30/2023Toiletries/Cosmetics
CRUgly double bottom      05/04/202305/17/2023Diversified Co.
CROXPipe bottom      05/22/202305/30/2023Shoe
CCKPipe bottom      05/22/202305/30/2023Packaging and Container
CWDouble Bottom, Adam and Eve      05/04/202305/31/2023Machinery
DHRThree Rising Valleys      05/17/202305/31/2023Medical Services
DECKPipe bottom      05/15/202305/22/2023Shoe
DDSTriple bottom      05/11/202306/01/2023Retail Store
^DJTTriple bottom      05/16/202306/01/2023None
^DJIDouble Bottom, Adam and Adam      05/25/202306/01/2023None
EMRPipe bottom      05/22/202305/30/2023Computers and Peripherals
WIREDouble Bottom, Eve and Eve      05/23/202306/01/2023Metals and Mining (Div.)
EPAMDead-cat bounce      06/05/202306/05/2023IT Services
FLSPipe bottom      05/22/202305/30/2023Machinery
FWRDDouble Bottom, Eve and Adam      05/16/202305/25/2023Trucking/Transp. Leasing
FCXPipe bottom      05/22/202305/30/2023Metals and Mining (Div.)
GMEDead-cat bounce      06/08/202306/08/2023Retail (Special Lines)
GPROHead-and-shoulders bottom      05/02/202305/25/2023Electronics
HBIDouble Bottom, Adam and Eve      05/16/202306/01/2023Apparel
HQYUgly double bottom      05/04/202305/31/2023Healthcare Information
HSIITriple bottom      04/26/202305/31/2023Human Resources
HDDouble Bottom, Adam and Adam      05/16/202306/01/2023Retail Building Supply
NSPDouble Bottom, Adam and Adam      05/16/202305/31/2023Human Resources
IBPPipe bottom      05/22/202305/30/2023Retail Building Supply
TILEPipe bottom      05/08/202305/15/2023Furn/Home Furnishings
KFRCUgly double bottom      05/09/202306/01/2023Human Resources
LHXPipe bottom      05/22/202305/30/2023Aerospace/Defense
MPipe bottom      05/22/202305/30/2023Retail Store
MANDouble Bottom, Eve and Adam      05/09/202305/31/2023Human Resources
MTRNDouble Bottom, Eve and Eve      05/11/202305/31/2023Metals and Mining (Div.)
MDCBroadening top      05/03/202306/07/2023Homebuilding
MURUgly double bottom      05/12/202305/31/2023Petroleum (Integrated)
NBRHorn bottom      05/15/202305/30/2023Oilfield Svcs/Equipment
NFGDouble Bottom, Eve and Eve      05/16/202305/26/2023Natural Gas (Diversified)
OUTTriple bottom      05/16/202306/01/2023Advertising
PNWDouble Bottom, Adam and Adam      05/25/202306/02/2023Electric Utility (West)
PHMPipe bottom      05/22/202305/30/2023Homebuilding
RTXPipe bottom      05/22/202305/30/2023Aerospace/Defense
RCKYDouble Bottom, Adam and Adam      05/12/202305/25/2023Shoe
ROGMultiple tops      03/01/202306/08/2023Electronics
^GSPCDouble Bottom, Adam and Adam      04/26/202305/04/2023None
SLBDouble Bottom, Adam and Adam      05/16/202305/31/2023Oilfield Svcs/Equipment
SMGTriangle, descending      05/04/202306/08/2023Chemical (Basic)
SKXDouble Bottom, Adam and Adam      05/24/202306/01/2023Shoe
SMARDead-cat bounce      06/08/202306/08/2023E-Commerce
TRGPBroadening bottom      05/15/202306/08/2023Natural Gas (Diversified)
TECHHead-and-shoulders top      04/17/202305/22/2023Biotechnology
TDGDouble Bottom, Adam and Adam      05/24/202305/31/2023Aerospace/Defense
TREXPipe bottom      05/22/202305/30/2023Building Materials
UGIHead-and-shoulders bottom      05/16/202306/05/2023Natural Gas (Distributor)
WSOPipe bottom      05/22/202305/30/2023Retail Building Supply
WMBDouble Bottom, Eve and Eve      05/16/202305/31/2023Natural Gas (Distributor)

 

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Thursday 6/8/23. Cryptocurrency Review: Bitcoin (BTC-USD)

The Nasdaq dropped by -1.3% or -171.52 points. Since 02/05/1971 the Nasdaq made 125 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.1% on 52 occasions.
     Average loss was -1.6% on 73 occasions.
Expect the Nasdaq to close lower 58.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 259/455 or 56.9% of the time.
     The prediction of the Nasdaq closing lower has been right 72/150 or 48.0% 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 bitcoin.

$ $ $

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

Bitcoin shows a falling wedge chart pattern, shown here outlined in red at A. The breakout from those patterns is upward 68% of the time, but that's in stocks.

Notice that the cryptocurrency touched the bottom of the wedge at B. Because the bottom red trendline is a support area, it suggests a rise to C. Maybe, just maybe, we'll see an upward breakout immediately thereafter.

I'd say the wedge is a bullish pattern, and it is, but in this case, it could be a trap. Why? It could be a bearish top trap. If you erase the red lines, we see a horizontal top, forming a bullish chart pattern. Price may rise but it won't go far before reversing and tumbling. In other words, be cautious.

$ $ $

Here's a symbol list of 249 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACIW, ADBE, ADTN, AEIS, APD, ATSG, ALKS, AMZN, AMED, AEE, AMN, APA, APOG, ATR, ATO, BALL, BIG, BIIB, BMRN, BKNG, BOOT, BFH, BMY, BR, BBW, BG, CALM, CAL, CX, CNC, CDAY, CF, CHKP, CVX, CHD, CI, CTAS, CLNE, CLF, CLX, CNA, CNX, CL, CMCO, CMTL, CONN, COP, COTY, CR, CROX, CCK, XRAY, DVN, FANG, DDS, DFS, DSGR, ECL, EMR, WIRE, EOG, EQT, EVH, EXPI, XOM, EZPW, FAST, FLS, FNV, FCX, FDP, FRD, GPN, GES, HBI, HSC, HIG, HE, HAYN, HSII, HELE, HD, HURC, ILMN, INCY, IBP, IBKR, TILE, IPI, JBLU, KALU, KBH, K, KMT, KFRC, LHX, LZB, LAMR, LEG, LEN, LXU, MHO, M, MGY, MRO, MLM, MAS, MTDR, MTRX, MDT, MRK, MRCY, META, MU, MLKN, MCO, MUR, NBR, ^IXIC, NI, NOVT, NUS, NTNX, OXY, ORI, OMC, ASGN, OTEX, OR, OUT, PDCO, PTEN, PYPL, PETS, PFE, PNW, PXD, PPG, PEG, PHM, PSTG, RRC, RTX, RGA, RNG, RHI, RCKY, ROL, ROST, RGLD, RES, ^GSPC, CRM, SLB, SCI, SHOP, STR, SKX, SMAR, SCCO, SWN, SPLK, SCS, TPR, TRGP, TDOC, TDC, TSCO, TZOO, TG, TREX, TWLO, VEEV, VRTX, WSO, WU, WPM, WMB, WSM, WSC, WWW, ITB, IEZ, IDU, FTEC, FDN, QTEC, FXI, QQQ, IYH, IHF, IYZ, IEV, IGV, MXI, SLV, IGE, IHI, EWQ, EWG, EWI, EWM, EWS, EWL, THD, EWU, QLD, PPA, DBA, PXJ, SSO, XLE, XLF, XLV, XLI, SPY, XAR, VHT, VIS, 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.

$ $ $

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  11,431.32    
 Monthly S1  12,268.11  836.79   
 Weekly S2  12,716.65  448.54   
 Monthly Pivot  12,762.16  45.51   
 Weekly S1  12,910.78  148.62   
 Daily S2  12,913.01  2.23   Yes! The Daily S2 is close to the Weekly S1.
 Daily S1  13,008.95  95.95   
 Weekly Pivot  13,083.49  74.54   
 Low  13,089.48  5.99   Yes! The Low is close to the Weekly Pivot.
 Close  13,104.90  15.42   Yes! The Close is close to the Low.
 Daily Pivot  13,185.43  80.53   
 61.8% Down from Intraday High  13,193.54  8.12   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High  13,225.69  32.15   
 38.2% Down from Intraday High  13,257.84  32.15   
 Weekly R1  13,277.62  19.78   Yes! The Weekly R1 is close to the 38.2% Down from Intraday High.
 Daily R1  13,281.37  3.76   Yes! The Daily R1 is close to the Weekly R1.
 Open  13,295.26  13.89   Yes! The Open is close to the Daily R1.
 High  13,361.90  66.64   
 Weekly R2  13,450.33  88.43   
 Daily R2  13,457.85  7.51   Yes! The Daily R2 is close to the Weekly R2.
 Monthly R1  13,598.95  141.10   
 Monthly R2  14,093.00  494.05   

Wednesday 6/7/23. 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 chart shows a bullish signal and it's a strong one. The index has pushed above nearby overhead resistance. Although the index might retrace, with the debt ceiling suspended until 2025, there's room for growth. Tempering that is the coming Federal Reserve meeting coming next month. Worries about that meeting's outcome will continue.

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, 38% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 44%.
The fewest was 31% on 02/02/2023.
And the most was 80% on 06/17/2022.
Shown as a blue line on the above chart...
The 522 stocks in my database are down an average of 19% from their yearly high.
A week ago, the average was 21%.
The peak was 16% on 02/02/2023.
And the bottom was 34% on 09/30/2022.

Both the red and blue lines are bullish compared to a week ago. That's the good news.

This chart shows a peak last August and the index is reaching the level of that peak. So despite what I wrote above about minimal resistance above, there IS overhead resistance shown on this chart.

So there's concern about the index moving higher or perhaps suffering a retrace. The prior chart is bullish and so is this one. While I expect a retrace, I think it'll be short lived and we'll see a resumption of a move higher.

$ $ $

Here's a symbol list of 263 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, ACIW, AEIS, ATSG, ALB, ALGT, AMN, APOG, ATR, ARCB, ADM, ARW, AVY, AVNT, AXS, BCPC, BECN, BERY, BBY, BMRN, BKNG, BSX, BFH, BMY, BR, BBW, BG, CALM, CE, CX, CNC, CENX, CDAY, CHS, CHD, CI, CLNE, CLF, CLX, CNA, CL, CMCO, CMTL, CONN, CXW, COTY, CR, CROX, CCK, CW, XRAY, DDS, DSGR, DUK, ECL, EIX, EMR, WIRE, EPAM, EQT, EVH, EXPI, XOM, FARO, FIVN, FLEX, FLS, FMC, FORM, FWRD, FCX, GME, GPS, IT, GIS, GPN, GMS, GPRO, GGG, GES, THG, HQY, HTLD, HSII, HELE, HD, HUBG, HURC, ITW, ILMN, INCY, IBP, IIIN, IPAR, IBKR, TILE, IPG, INTU, JBLU, KALU, KBH, K, KMT, KFRC, KSS, KLIC, LHX, LZB, LAMR, LEG, LEN, LNC, M, MRTN, MTDR, MTRN, MTRX, MRK, MRCY, MU, MLKN, MS, MOS, NBR, NCR, NFLX, JWN, NWPX, NTNX, ORI, OLN, OMC, ASGN, ON, OTEX, OMI, PKG, PFE, PLXS, PPG, PFG, PRU, PHM, QTWO, KWR, QCOM, RRC, RJF, RTX, RGS, RNG, ROK, RCKY, ROL, SAIA, CRM, SBH, SEE, SEIC, SIGI, SCI, SHOP, SCCO, LUV, SWN, SPLK, SUM, SRDX, TPR, TDOC, TER, TSCO, RIG, TREX, UHAL, SLCA, UIS, UNH, UNM, VMI, VECO, VRTX, V, VC, WAT, WSO, WLK, WEX, WSM, WSC, WOLF, WWW, IYM, IAI, IYC, ITB, QTEC, FXL, FXI, IYH, IHF, MXI, SOXX, IYF, IHI, EWA, EWC, ECH, EEM, EWQ, EWJ, EWM, EPP, EWS, EWP, EWD, EWU, DBA, PBE, PHO, ROBO, XLF, XLV, XLB, XRT, 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.

-- Thomas Bulkowski

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Tuesday 6/6/23. Slider Trading Quiz!

The Dow dropped by -0.6% or -199.9 points. Since 10/01/1928 the Dow made 693 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 358 occasions.
     Average loss was -0.7% on 335 occasions.
Expect the Dow to close higher 51.7% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 262/478 or 54.8% of the time.
     The prediction of the Dow closing lower has been right 50/107 or 46.7% of the time.

$ $ $

I show another slider trading quiz featuring VF Corp: VFC stock.

$ $ $

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: AXDX, AEIS, AJRD, AES, AFL, ALL, AMZN, AMED, AEE, AEP, AIG, AME, APH, AR, ADM, ADSK, BSET, BERY, BA, BKNG, BSX, BG, CDNS, CPB, CX, CVX, CLNE, CNX, CL, CXW, GLW, COTY, CCK, CSGS, DHR, DECK, DVN, FANG, D, DTE, EPAM, XOM, EZPW, FE, FISV, FLS, FDP, GE, GPN, GFS, GL, HSC, HUM, JBHT, IEX, ITW, IPI, JBLU, K, KELYA, KMB, MGY, MRO, MRK, MU, MUR, NFLX, NEWR, NKE, NTNX, OXY, OGE, OMI, PANW, PRFT, PNW, PXD, PPL, PEG, RMBS, RRC, RGA, RNG, SLB, SCHW, SAIC, SIGI, SHOP, STR, SWN, SXI, TXN, RIG, TZOO, UPS, VLO, VRTX, WMT, WAT, WSO, WPM, WMB, ITA, IEZ, IDU, IYH, IGE, EWZ, EWH, TUR, PPA, PXJ, XLY, XLE, XLI, XLU, 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

Top

© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  31,797.81    
 Weekly S2  32,256.97  459.15   
 Monthly S1  32,680.34  423.37   
 Weekly S1  32,909.91  229.58   
 Weekly Pivot  33,357.46  447.54   
 Daily S2  33,388.53  31.07   
 Monthly Pivot  33,469.08  80.55   
 Daily S1  33,475.70  6.61   Yes! The Daily S1 is close to the Monthly Pivot.
 Low  33,552.79  77.09   
 Close  33,562.86  10.07   Yes! The Close is close to the Low.
 Daily Pivot  33,639.96  77.10   
 61.8% Down from Intraday High  33,648.84  8.88   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High  33,678.50  29.67   
 38.2% Down from Intraday High  33,708.17  29.67   
 Daily R1  33,727.13  18.95   Yes! The Daily R1 is close to the 38.2% Down from Intraday High.
 Open  33,771.13  44.00   
 High  33,804.22  33.09   
 Daily R2  33,891.39  87.17   
 Weekly R1  34,010.40  119.02   
 Monthly R1  34,351.61  341.20   
 Weekly R2  34,457.95  106.34   
 Monthly R2  35,140.35  682.41   

Monday 6/5/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow transports on the daily scale.

I show the Dow transports on the daily scale.

At A, the index breaks through a down-sloping trendline suggesting there's a good rise in store. I think that assessment is correct.

At B, we have support in the form of a triple bottom chart pattern. With the close at A above the top of the chart pattern, it confirmed the triple bottom as a valid chart pattern.

At C, we see a potential double bottom. The index has to close above the highest peak between the two bottoms to confirm it as valid. If it confirms, it'll suggest another rise.

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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.

Tuesday: Down 50.56 points.
Wednesday: Down 134.51 points.
Thursday: Up 153.3 points.
Friday: Up 701.19 points.
Saturday: Holiday or other weird event!

For the Week...

The Dow industrials were up 669.42 points or 2.0%.
The Nasdaq composite was up 265.08 points or 2.0%.
The S&P 500 index was up 76.92 points or 1.8%.

Year to Date...

Dow Industrials
     1.7% down from the high of 34,342.32 on 01/13/2023.
     7.4% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     0.1% down from the high of 13,256.21 on 06/02/2023.
     29.0% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     0.2% down from the high of 4,290.67 on 06/02/2023.
     12.9% 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  32,968  33,365  33,585  33,983  34,203 
Weekly  32,324  33,043  33,424  34,144  34,525 
Monthly  31,864  32,814  33,536  34,485  35,207 
S&P500 (^GSPC): Daily  4,222  4,252  4,271  4,302  4,321 
Weekly  4,122  4,202  4,246  4,327  4,371 
Monthly  3,965  4,124  4,207  4,366  4,449 
Nasdaq (^IXIC): Daily  13,077  13,159  13,208  13,289  13,338 
Weekly  12,762  13,001  13,129  13,368  13,496 
Monthly  11,477  12,359  12,807  13,690  14,138 

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 153 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, ATSG, ALRM, AMZN, AXP, AR, ANET, AGO, ATO, AVY, AVA, AXS, BCPC, BSET, BIIB, BKH, BKNG, BBW, BG, CBT, CF, CLX, CMCO, CMTL, ED, CSGP, COTY, CR, CRH, CW, DECK, DDS, DFS, DSGR, BOOM, EME, WIRE, EVH, XOM, FISV, FMC, FCX, GIS, GGG, HAYN, HQY, HELE, HP, HSY, IDXX, NSP, IBKR, TILE, KELYA, LRCX, LAMR, LEG, LEN, MHO, MA, MCO, MYGN, NBR, NEWR, NWL, NEU, NI, NWPX, NTNX, OGE, ORI, OMI, OXM, PATK, PTEN, PXD, PINC, PEG, RMBS, RJF, REGN, RGS, RNG, RLI, RCKY, RES, R, ^GSPC, SAIA, SHW, SHOP, SLGN, SKX, SKYW, SO, SCCO, SWX, SWN, SSYS, TTD, TOL, TREX, MDRX, VRSN, V, WEX, WPM, WMB, WSC, WWD, XEL, IYK, ITB, IHE, BOTZ, IYH, IYZ, MXI, IXN, EWA, EWK, EWQ, EWG, EWH, EWI, EWJ, EWM, EPP, EZA, EWY, EWP, EWT, THD, TUR, EWU, PEJ, SSO, ROBO, XLY, SPY, XLK, 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. Homebuilding1. Homebuilding
2. Semiconductor2. Semiconductor
3. Internet3. Internet
4. Semiconductor Cap Equip.4. Semiconductor Cap Equip.
5. E-Commerce5. E-Commerce
6. Computer Software and Svcs6. Computer Software and Svcs
7. Cement and Aggregates7. Shoe
8. Shoe8. Cement and Aggregates
9. Electronics9. Electronics
10. Chemical (Specialty)10. Retail Building Supply
Best Performing AboveWorst Performing Below
50. Medical Services50. Insurance (Life)
51. Securities Brokerage51. Medical Services
52. Furn/Home Furnishings52. Retail Store
53. Human Resources53. Furn/Home Furnishings
54. Chemical (Diversified)54. Chemical (Diversified)
55. Insurance (Life)55. Human Resources
56. Natural Gas (Distributor)56. Petroleum (Integrated)
57. Petroleum (Integrated)57. Natural Gas (Distributor)
58. Petroleum (Producing)58. Petroleum (Producing)
59. Natural Gas (Diversified)59. Natural Gas (Diversified)
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 6/2/23. Pattern Trading Setups for the Weekend.

New research. How does crypto performance compare to stocks and ETFs?

$ $ $

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: AYI, AEIS, AFL, AYX, ABC, AR, ARCB, AVY, BIIB, BMRN, BKNG, BOOT, BSX, BBW, CDNS, CALM, CNC, CDAY, CNX, CL, ED, CAG, CONN, DECK, ^DJU, DOV, DRQ, DUK, EMN, ELV, EVH, XOM, FFIV, FICO, FAST, FIS, FTNT, FWRD, FRD, GILD, GS, HBI, THG, HSC, HE, HP, HSIC, HWM, ILMN, PODD, KBH, KELYA, KMB, LZB, LRCX, LEG, LEN, MGY, MAN, MRK, MRCY, META, MGEE, MSFT, NEWR, NEU, NKE, JWN, NTNX, OGE, OUT, OMI, OXM, PTEN, PNW, PPG, PEG, PSTG, RRC, RGA, RNG, RHI, RCKY, SBH, SEE, SEIC, SHOP, SKX, SKYW, SO, SWX, SWN, SPSC, SSYS, SUM, SRDX, TPR, TECH, TDOC, RIG, TZOO, TREX, UHAL, UIS, UNM, VLO, WMT, XEL, IYC, IEZ, IHE, FTEC, QQQ, IYH, IHF, IXN, ILF, IYF, EWQ, EIS, EWI, EWM, TUR, QLD, IBB, PXJ, XLY, XLV, SPY, XLK, UNG, VHT, 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
AYXTriple bottom      05/03/202305/26/2023Computer Software and Svcs
DOXBroadening top, right-angled and descending      02/01/202305/26/2023IT Services
AXPHead-and-shoulders bottom      05/04/202305/25/2023Financial Services
APHDouble Bottom, Adam and Adam      04/26/202305/24/2023Electronics
ARPipe top      05/15/202305/15/2023Natural Gas (Diversified)
ANETHorn bottom      05/01/202305/15/2023E-Commerce
BIGDead-cat bounce      05/26/202305/26/2023Retail Store
BAHead-and-shoulders bottom      04/14/202305/25/2023Aerospace/Defense
BKNGPipe top      05/15/202305/22/2023Internet
BGDouble Bottom, Adam and Adam      05/09/202305/18/2023Food Processing
CDNSThree Rising Valleys      04/25/202305/24/2023Computer Software and Svcs
CNCHead-and-shoulders top      04/14/202304/28/2023Medical Services
CSCOTriple bottom      04/27/202305/18/2023Computers and Peripherals
CLDouble Top, Adam and Adam      05/04/202305/12/2023Household Products
EZPWPipe top      05/01/202305/08/2023Financial Services
GFSPipe bottom      05/08/202305/15/2023Semiconductor
HTLDPipe bottom      04/24/202305/01/2023Trucking/Transp. Leasing
HONHead-and-shoulders top      04/18/202305/19/2023Aerospace/Defense
HWMTriple top      05/02/202305/19/2023Aerospace/Defense
ITWTriple top      02/02/202305/01/2023Metal Fabricating
PODDHead-and-shoulders top      04/20/202305/15/2023Medical Supplies
JKHYDouble Bottom, Eve and Eve      05/18/202305/25/2023IT Services
KELYAPipe top      05/15/202305/22/2023Human Resources
MASThree Falling Peaks      04/26/202305/10/2023Building Materials
NEWRPipe top      05/15/202305/22/2023E-Commerce
ORIDouble Top, Eve and Eve      05/01/202305/19/2023Insurance (Prop/Casualty)
ROLDouble Top, Adam and Adam      04/28/202305/12/2023Industrial Services
SAIADouble Bottom, Adam and Adam      05/16/202305/24/2023Trucking/Transp. Leasing
SBHRoof      05/10/202306/01/2023Toiletries/Cosmetics
SKXDouble Top, Eve and Eve      05/01/202305/15/2023Shoe
SXIHead-and-shoulders top      05/12/202305/30/2023Diversified Co.
TTDThree Rising Valleys      04/06/202305/11/2023Advertising
TSCOHead-and-shoulders complex top      04/03/202305/11/2023Retail Building Supply
SLCATriple top      04/28/202305/23/2023Metals and Mining (Div.)
WMTDouble Top, Adam and Eve      04/25/202305/10/2023Retail Store
WUDouble Top, Eve and Eve      05/08/202305/18/2023Financial Services
WSMDiamond bottom      05/11/202306/01/2023Retail (Special Lines)
IAITriple top      07/23/201911/15/2019Securities Brokerage
IYCTriple top      02/21/201703/17/2017Retail Store
IYETriple bottom      08/15/201910/03/2019Petroleum (Integrated)
ITBTriple top      04/24/201905/16/2019Homebuilding
IEZDouble Bottom, Adam and Eve      07/14/202209/26/2022Oilfield Svcs/Equipment
IDUTriple bottom      09/04/201209/28/2012Electric Utility (Central)
DOGTriple bottom      09/30/201610/24/2016Short ETFs
DXDTriple bottom      01/13/202302/14/2023Short ETFs
DDMTriple bottom      05/07/201408/07/2014Long ETFs
FTECTriple top      09/22/201610/24/2016IT Services
QTECTriple top      10/27/201111/16/2011Electronics
FXLTriple top      08/01/201308/22/2013IT Services
BOTZTriple top      08/29/201810/01/2018Electronics
ICFTriple top      09/12/201712/18/2017Long ETFs
IATTriple bottom      04/17/201705/31/2017Long ETFs
IYZTriple bottom      10/24/201912/03/2019Telecom. Equipment
IEVTriple top      11/04/201911/27/2019Investment Co. (Foreign)
IXCTriple top      09/16/201912/13/2019Investment Co. (Foreign)
MXITriple bottom      05/20/201406/17/2014Investment Co. (Foreign)
IXNTriple bottom      04/15/201405/07/2014IT Services
ILFTriple bottom      06/19/201809/05/2018Investment Co. (Foreign)
SLVTriple top      05/18/202106/11/2021Metals and Mining (Div.)
IGETriple top      01/30/201303/15/2013Petroleum (Integrated)
IYFTriple bottom      10/13/201702/09/2018Financial Services
IHITriple top      02/06/201202/28/2012Medical Supplies
EWATriple top      10/28/201911/19/2019Investment Co. (Foreign)
EWOTriple top      11/05/201901/13/2020Investment Co. (Foreign)
EWKTriple bottom      11/11/201912/03/2019Investment Co. (Foreign)
EWZDouble Top, Adam and Adam      10/21/202211/04/2022Investment Co. (Foreign)
EWCTriple top      05/22/201808/28/2018Investment Co. (Foreign)
ECHTriple top      05/14/201406/09/2014Investment Co. (Foreign)
EEMTriple top      09/06/201610/10/2016Investment Co. (Foreign)
EWQTriple bottom      01/30/201702/24/2017Investment Co. (Foreign)
EWGTriple top      09/14/201210/18/2012Investment Co. (Foreign)
EWHTriple bottom      04/22/202105/13/2021Investment Co. (Foreign)
EWITriple top      02/01/202303/06/2023Investment Co. (Foreign)
EWJTriple bottom      07/02/201809/07/2018Investment Co. (Foreign)
EWMTriple top      02/06/201502/27/2015Investment Co. (Foreign)
EWWTriple bottom      07/14/202209/26/2022Investment Co. (Foreign)
EPPTriple bottom      05/20/201407/10/2014Investment Co. (Foreign)
EWSTriple top      11/07/201912/13/2019Investment Co. (Foreign)
EZATriple top      10/28/201911/20/2019Investment Co. (Foreign)
EWYDouble Bottom, Eve and Eve      06/04/201207/23/2012Investment Co. (Foreign)
EWPTriple bottom      01/11/201702/22/2017Investment Co. (Foreign)
EWDTriple top      04/01/201406/06/2014Investment Co. (Foreign)
EWLTriple top      05/23/201406/19/2014Investment Co. (Foreign)
EWTTriple top      12/13/201202/20/2013Investment Co. (Foreign)
EWUTriple bottom      05/20/201406/17/2014Investment Co. (Foreign)
QLDTriple top      08/05/201308/26/2013Long ETFs
PSQTriple bottom      09/22/201610/25/2016Short ETFs
QIDDouble Top, Adam and Adam      12/03/202112/20/2021Short ETFs
PPATriple top      08/15/201609/06/2016Aerospace/Defense
DBATriple bottom      07/05/202207/22/2022Investment Co. (Domestic)
PEJTriple top      06/20/201807/27/2018Long ETFs
PXJTriple top      03/05/202106/16/2021Oilfield Svcs/Equipment
PJPTriple top      12/02/202201/06/2023Drug
PHOTriple top      03/06/201406/09/2014Investment Co. (Domestic)
SSOTriple bottom      03/03/201403/27/2014Long ETFs
SHTriple bottom      08/15/201609/07/2016Short ETFs
SDSDouble Bottom, Adam and Adam      12/01/202212/13/2022Short ETFs
ROBOTriple bottom      05/03/201808/15/2018Electronics
XLYTriple bottom      10/25/201912/03/2019Investment Co. (Domestic)
XLPTriple top      05/10/202106/04/2021Household Products
XLETriple bottom      12/09/202201/04/2023Petroleum (Integrated)
XLVDouble Top, Eve and Eve      10/01/201812/04/2018Drug
XHBTriple bottom      12/04/201302/03/2014Homebuilding
XLITriple bottom      06/29/201708/29/2017Investment Co. (Domestic)
XLBTriple top      11/03/201512/09/2015Building Materials
XRTTriple bottom      07/12/201208/02/2012Retail Store
SPYTriple bottom      03/19/201304/18/2013Long ETFs
XARTriple bottom      01/16/201302/26/2013Aerospace/Defense
XLKTriple bottom      07/19/201310/09/2013IT Services
XLUTriple bottom      09/23/201512/11/2015Electric Utility (Central)
SMNTriple bottom      11/03/201512/09/2015Short ETFs
SKFDouble Bottom, Adam and Adam      09/14/201210/18/2012Short ETFs
DUGDouble Bottom, Eve and Eve      11/14/202201/26/2023Short ETFs
SRSTriple bottom      11/05/202111/24/2021Short ETFs
UNGTriple bottom      01/22/202104/06/2021Natural Gas (Diversified)
VHTDouble Bottom, Adam and Eve      02/09/201804/02/2018Healthcare Information
VAWDouble Top, Eve and Eve      01/05/202204/21/2022Chemical (Specialty)
MGKTriple top      07/03/201407/24/2014None

 

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Thursday 6/1/23. 2023 Forecast Update

The Nasdaq dropped by -0.6% or -82.14 points. Since 02/05/1971 the Nasdaq made 340 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.2% on 155 occasions.
     Average loss was -0.8% on 185 occasions.
Expect the Nasdaq to close lower 54.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 259/455 or 56.9% of the time.
     The prediction of the Nasdaq closing lower has been right 72/149 or 48.3% of the time.

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

I don't show the usual panel from Fidelity because they changed their format and no longer offer the kind of information I need.

$ $ $

Here's a symbol list of 185 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, AEIS, AFL, A, ATSG, ALKS, ALGT, AR, ACGL, AVY, BECN, BERY, BIIB, BKH, BKNG, BOOT, BSX, BRKR, CX, CENX, CDAY, CHKP, CHS, CI, CNX, CL, CONN, GLW, CSGP, COTY, CRH, DECK, DVN, FANG, ^DJT, DOV, DRQ, EMN, EBAY, EPAM, XOM, FE, FIVN, GNW, HLIT, HAYN, HTLD, HELE, HUN, INTC, IRM, KALU, KELYA, LEG, L, LXU, MANH, MAN, MRTN, MA, MDC, MRCY, MLKN, MCO, MOS, MLI, NBR, NOV, NEWR, NEE, NXGN, NKE, NI, NTNX, OLN, ASGN, OMI, OXM, PATK, PTEN, PRFT, PXD, PG, RL, RGS, RNG, RCKY, ROL, RES, SBH, SMG, SEE, SEIC, SIGI, SHOP, SWX, SWN, SPSC, SCS, SSYS, TPR, TRGP, TPX, TJX, TREX, UGI, UIS, VLO, VMI, MDRX, V, WAT, WSO, WERN, WLK, WSC, IYM, IAI, ITB, IEZ, IHE, FDN, ICF, IEV, IXC, MXI, ILF, IGE, IEO, EWA, EWO, EWK, EWZ, EWC, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EWW, EPP, EWS, EWP, EWL, TUR, EWU, IBB, DBA, PEJ, PXJ, XHB, XLB, XRT, UNG, USO, 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 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  11,375.52    
 Monthly S1  12,155.40  779.89   
 Weekly S2  12,198.29  42.89   
 Weekly S1  12,566.79  368.50   
 Monthly Pivot  12,578.66  11.87   Yes! The Monthly Pivot is close to the Weekly S1.
 Weekly Pivot  12,784.35  205.69   
 Daily S2  12,811.54  27.19   
 Daily S1  12,873.41  61.88   
 Low  12,889.37  15.96   
 Close  12,935.29  45.92   
 61.8% Down from Intraday High  12,942.74  7.45   Yes! The 61.8% Down from Intraday High is close to the Close.
 Daily Pivot  12,951.25  8.51   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  12,959.22  7.98   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 Open  12,968.38  9.16   Yes! The Open is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  12,975.71  7.33   Yes! The 38.2% Down from Intraday High is close to the Open.
 Daily R1  13,013.12  37.41   
 High  13,029.08  15.96   
 Daily R2  13,090.96  61.88   
 Weekly R1  13,152.85  61.89   
 Monthly R1  13,358.54  205.69   
 Weekly R2  13,370.41  11.87   Yes! The Weekly R2 is close to the Monthly R1.
 Monthly R2  13,781.80  411.39   

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