As of 04/25/2024   Indus: 38,086 -375.12 -1.0%     Trans: 15,297 +219.09 +1.5%     Utils: 895 +1.83 +0.2%     Nasdaq: 15,612 -100.99 -0.6%     S&P 500: 5,048 -23.21 -0.5%	YTD  +1.1%   -3.8%    +1.5%    +4.0%    +5.8%	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 4/23/24

As of 04/25/2024   Indus: 38,086 -375.12 -1.0%     Trans: 15,297 +219.09 +1.5%     Utils: 895 +1.83 +0.2%     Nasdaq: 15,612 -100.99 -0.6%     S&P 500: 5,048 -23.21 -0.5%	YTD  +1.1%   -3.8%    +1.5%    +4.0%    +5.8%
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 4/23/24

Friday 3/31/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 233 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AXDX, ACN, AYI, ADTN, AJRD, AES, ALB, ALGT, AYX, AMZN, DOX, AEL, AFG, AIG, ANIK, APA, APOG, AAPL, ACGL, ARW, AIZ, AGO, AVNT, BECN, BBBY, BAH, BCO, BR, CBT, CX, CF, CVX, CIEN, CINF, CTAS, CLNE, CNA, CNO, ED, COP, CRH, CCRN, CTS, CMI, DDS, DOV, ECL, EMR, EOG, EPAM, EL, RE, XOM, FICO, FAST, FLS, FCX, IT, GL, GMS, GS, GGG, GFF, HIG, HQY, HL, HOV, JBHT, INFN, IBP, IIIN, ITGR, IBKR, TILE, INTU, KALU, KEYS, KLAC, LPLA, LXU, M, MGY, MRO, MLM, MAS, MRCY, MSFT, MUR, MYGN, ^IXIC, NOV, NFLX, NEWR, JWN, NOC, NVDA, OLN, OMC, PKG, PAYX, PKI, PXD, PFG, PGR, PRU, PEG, QCOM, RRC, RJF, REGN, RGS, RGA, RNG, ROK, RES, ^GSPC, SBH, SMG, SMTC, STR, SKYW, SMAR, SCCO, LUV, SPSC, SRDX, TRGP, TDOC, TPX, TSCO, TG, UHAL, SLCA, UIS, UNM, VFC, VRTX, VC, WMT, WSO, WLK, WDAY, IYM, IYC, ITB, IDU, FTEC, FDN, QTEC, FXL, FXI, BOTZ, ICF, IAT, IGV, SOXX, SLV, IEO, IHI, EWA, EWO, EWK, EWC, ECH, EEM, EWQ, EWG, EWH, EWI, EWJ, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWU, QLD, DBA, PBE, PEJ, PHO, ROBO, IEV, IXC, IXN, SSO, MXI, XLY, XLE, XLB, SPY, XLK, USO, SMH, VIS, VAW, MGK. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 3/30/23. 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.

$ $ $

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

There's not much going on in this picture, so I had to do some hunting. At B, it's hard to see but there's a triple bottom.

It confirms as a valid pattern when price closes above the highest peak between the three bottoms. The rise after the breakout almost hit its target.

At A is a gap. Lots of people put faith in gaps, that they will support price. In my tests, they were the worst "supporting" patterns (versus peaks and valleys and round numbers). As support in an uptrend, they work 20% of the time.

The chart shows the recent peak nearing the Wed/Thursday peaks, so that's overhead resistance.

$ $ $

Here's a symbol list of 247 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ADBE, AEIS, AMD, AFL, APD, ALK, ALB, ALGT, AMZN, AXP, AFG, AMWD, APH, AON, APA, APOG, AAPL, AMAT, ATR, ACGL, ANET, ARW, ASH, AIZ, AVNT, AVA, AXS, AZTA, BALL, BECN, BIG, BKNG, BSX, BCO, BR, BBW, CBT, CX, CENX, CRL, CINF, CTAS, CSCO, CNA, CNO, CTSH, CMCO, CONN, CXW, GLW, CCRN, CCK, CSGS, CMI, DVN, FANG, DOV, EXP, EMN, WIRE, EOG, RE, XOM, FICO, FAST, FLS, FORM, FTV, FCX, FDP, FRD, IT, GFS, GL, GMS, GS, GPRO, GGG, GFF, GES, THG, HLIT, HSC, HIG, HQY, HOV, HWM, HURC, ITW, ILMN, INFN, IBP, IIIN, ITGR, IBKR, TILE, INTU, JKHY, JBLU, KALU, KMT, KMB, LMT, L, LPLA, MHO, MGY, MAN, MRO, MLM, MRCY, MU, MSFT, MOS, MUR, ^IXIC, NJR, NWL, NOC, ORI, OLN, OMCL, PKG, PDCO, PEN, PXD, PPG, PFG, PGR, RRC, RJF, REGN, RGS, RGA, RES, ^GSPC, CRM, SBH, SLB, SMG, SEIC, SHW, SHOP, STR, SKYW, SCCO, LUV, SXI, SSYS, SRDX, TRGP, TGT, TDY, TPX, TXT, TDG, SLCA, UIS, UNM, VLO, VRSN, VC, VMC, WLK, WEX, ITA, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, IAT, IGV, IGE, IEO, EWA, EWO, EWK, EWC, ECH, EWQ, EWG, EWH, EIS, EWI, EWJ, EWW, EPP, EWP, EWL, TUR, EWU, QLD, IBB, PEJ, ROBO, IEV, IXC, IXN, SSO, MXI, XLE, XLI, XLB, SPY, XAR, XLK, USO, 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.

$ $ $

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 3/29/23. 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.

Three trading days ago, the CPI signaled a bullish turn. Today, the index appears to be retracing that strong push upward. I'm concerned that the index could continue lower.

Until the signal changes (and it could if the market makes a big move), the chart is bullish but it seems to be getting weaker. Indeed, it has been trending lower from the February peak.

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).

The red line is easiest to see. It's slightly weaker today compared to a week ago. The line is moving sideways, struggling to find direction.

This chart is probably neutral, meaning that the red line could soar as easily as it could plummet.

Taken together, the market seems to be in a state of change, as if it's waiting for something to happen (such as a surprise FED meeting to change interest rates). A large move in either direction could start a new trend.

$ $ $

Here's a symbol list of 152 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, ALB, AEE, AFG, APH, APA, APOG, ARCB, ACGL, ANET, AIZ, AGO, AVNT, AXS, BCPC, BERY, BKH, BFH, BCO, CBT, CALM, CLS, CX, CNC, CNP, CINF, CNA, CNO, CMTL, COTY, CCRN, XRAY, D, DOV, DUK, EMN, EOG, EQT, RE, XOM, FICO, FISV, FLS, FORM, IT, GPN, GL, GMS, GS, GPRO, GFF, HIG, HQY, HSY, HOV, HWM, HURC, INCY, IBP, IIIN, PODD, IBKR, TILE, INTU, KALU, KEYS, KLIC, LANC, LEN, LPLA, MGY, MRO, MCHX, MLM, MRCY, META, MU, MUR, NEU, NOC, ORI, OLN, OMC, OTEX, OMI, PATK, PEN, PFE, PNW, PXD, POR, PFG, PGR, PEG, KWR, QCOM, RRC, RJF, RGS, RGA, ROL, ROST, RES, CRM, SBH, SCHW, SCI, SHW, STR, SKYW, SCCO, SCS, SUM, SRDX, TRGP, TPX, SLCA, UIS, UNM, VFC, VMI, WLK, WOLF, FTEC, FDN, QQQ, IAT, IEO, IYF, ECH, EWI, EWM, EWW, EWS, EWY, TUR, QLD, ILF, XLE, XLK, XLU, UNG, USO. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 3/28/23. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Wyeth: WYE stock.

$ $ $

I released another version of Patternz version 7.0.0.55. This supports two more quote providers (one of which you'll have to include the exchange you want quotes from, such as AAPL.US for apple computer in the US) and includes a SR (support/resistance) button on the chart form. Click it on/off to show or hide the lines. I'm nearing the end of my tweaks. I don't plan on adding any new features from here, but need to look at some graphics issues with cryptocurrencies.

$ $ $

Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABM, ACIW, AEIS, AES, AFL, ALKS, AMZN, AMN, APH, AR, ATR, ANET, AVNT, AVA, AZTA, BMI, BSET, BAX, BBBY, BBY, BAH, BRC, BMY, BR, CBT, CPB, CE, CLS, CIEN, CTAS, CLX, CNX, CSGP, COTY, DDS, EMN, EFX, EXC, FFIV, FAST, FORM, FDP, GGG, HE, HSY, HNI, HOLX, HD, DHI, ITW, INFN, IIIN, ITGR, IPG, INTU, KBH, KMT, KEYS, LH, LANC, LEG, LEN, L, LPLA, MANH, MCHX, MAS, MDC, MGEE, MU, NFG, NWL, NXGN, NKE, NWPX, OGE, ORI, OLN, OMCL, OXM, PKE, PEN, PRFT, PKI, PCG, POR, PPG, PPL, QCOM, RMBS, RGA, RHI, ROG, ROL, SAIC, SIGI, NOW, SKYW, SMAR, SR, SPSC, SCS, SUM, SRDX, TDOC, TFX, UNH, VECO, VEEV, MDRX, V, WMT, WLK, WMB, WOLF, WWD, WDAY, ITA, IYM, IYK, IHE, IDU, FTEC, FDN, QQQ, IHI, ECH, EWJ, QLD, PPA, PBE, PJP, XLB, XAR, XLK, UNG, 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

Monday 3/27/23. 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 Nasdaq composite on the daily scale.

At A is a chart pattern called a broadening top. That's where the price swings widen over time, forming what looks like a megaphone.

B shows a similar pattern, called a broadening bottom. It's the same as the top version except for the direction price enters the pattern.

Broadening bottoms (B) breakout upward 60% of the time, according to my research of the chart pattern. That's not much above random, but that's what I found when studying over 1,000 of them.

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 97 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, ABC, APA, ASH, AZTA, BALL, BECN, BKH, BSX, CPB, CLF, CLX, CAG, COST, COTY, CR, CW, FTV, HE, HL, HSIC, HOLX, DHI, IDA, IEX, ILMN, IIIN, IPI, ISRG, JAZZ, LHX, LNC, LPLA, LXU, MANH, MTRX, MDC, MGEE, MSFT, MCO, MS, ^IXIC, NEWR, NOVT, OMCL, OXM, PYPL, PEN, PRFT, PKI, PINC, KWR, QCOM, RMBS, RRC, ^GSPC, SLB, NOW, SKX, SMAR, SWN, SCS, TDOC, TDY, TFX, TMO, RIG, WAT, WOLF, WDAY, IAI, IYK, IHE, IDU, DDM, FDN, QQQ, IYH, IYZ, IHI, EWO, EWW, EWT, QLD, DBA, PHO, SSO, XLV, SPY, USO, 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.

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

-- Thomas Bulkowski

Friday 3/24/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 129 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACIW, AFL, ATSG, ALK, ALB, AEL, ABC, BECN, BERY, BKH, BAH, BCO, CNC, CF, CVX, CI, CLF, CLX, CNA, CAG, GLW, COTY, CRH, DVN, FANG, DSGR, BOOM, ELV, EOG, EVRG, EZPW, FDS, FDX, FCX, GMS, GFF, HL, HSII, HON, IPI, NVTA, KALU, KBH, LH, LAMR, LDOS, LLY, LNC, RAMP, LXU, MANH, MRO, MTDR, MTRX, MDC, MDT, MLKN, MOS, MUR, MYGN, NBR, NFLX, OXY, OMCL, OXM, PATK, PEN, PXD, PPL, QCOM, RMBS, RJF, REGN, ROL, ROST, R, SLB, SAIC, NOW, STR, SMAR, SCS, TDOC, TFX, TPX, TJX, TDG, TZOO, TWLO, SLCA, UNH, MDRX, WERN, WSM, WDAY, IYE, IEZ, IHE, FDN, FXI, IYH, IHF, IYZ, IGE, IEO, IYF, IHI, EWK, EZA, THD, EWU, PBE, PEJ, PXJ, IXC, IXN, XLY, XLE, XLF, XRT, XAR, 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

Thursday 3/23/23. Cryptocurrency Ethereum: Broadening Top

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

$ $ $

I show a picture of cryptocurrency Ethereum on the daily scale.

This is almost a picture perfect image of a broadening top chart pattern. It appears as price trends upward into the start of the pattern.

From there, it makes higher swings upward and lower swings downward, looking like a megaphone, B.

At A, the currency has paused. This could be a partial decline. That's when price attempts to reach the bottom line, doesn't make it, and breaks out upward immediately. The signal is correct 72% of the time.

Is that what will happen this time (an upward breakout)? Answer: I don't know. The probabilities were for stocks, not cryptocurrencies.

$ $ $

My neighbor backed into his neighbors mailbox, looked at it, and walked back to his pickup, parked it, and started washing his car as if nothing had happened.

He didn't leave a note, so I sent him an email to do the right thing and tell of the accident. Will it work?

$ $ $

Here's a symbol list of 202 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACIW, ADBE, ADTN, AMD, AFL, ATSG, ALK, ALB, AA, AXP, ABC, AON, ACGL, AWI, ATO, ADP, AVA, AXS, BBBY, BAH, BG, CACI, CNC, CDAY, CF, CVX, CI, CLF, CLX, CNA, CAG, CONN, GLW, COTY, CRH, CROX, CCK, DHR, DVN, FANG, ^DJI, EIX, ELV, EOG, EFX, EVRG, EXPI, FDS, FDX, FE, FORM, FCX, GME, GD, GE, GMS, GFF, HQY, HL, HSII, HNI, HON, IDA, IDXX, ILMN, IBKR, IPG, NVTA, K, KBAL, KLAC, LZB, LH, LRCX, LDOS, RAMP, MANH, MRO, MA, MTDR, MTRX, MDC, MDT, MRCY, MGEE, MOS, MUR, NBR, NJR, NEE, NI, JWN, NWPX, OXY, OMCL, ON, OTEX, OXM, PATK, PAYX, PEN, PNW, PXD, POR, QCOM, RMBS, RJF, ROL, ROST, R, SLB, SAIC, SMG, SMTC, NOW, STR, SMAR, LUV, SR, SPSC, SXI, SCS, TDOC, TFX, TPX, TMO, TJX, TDG, TZOO, TWLO, UNH, VECO, VRTX, V, WSM, WWW, WDAY, XEL, IYC, IYE, IEZ, IDU, FDN, QTEC, FXL, BOTZ, IYH, IHF, IYZ, IGV, SLV, IGE, IEO, IYF, IHI, EWK, EEM, EWQ, EWG, EIS, EWI, EWS, EWL, EWT, EWU, QLD, PPA, PEJ, PXJ, IXC, IXN, ILF, XLY, XLE, XLF, XLV, XRT, XAR, XLK, XLU, VHT, VIS. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Wednesday 3/22/23. 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 signaled a bullish move has begun. The vertical green bar on the far right of the chart attests to that. It comes after a long downtrend that began in February. That move bottomed in March.

Because the indicator can change its mind for up to a week, it's too soon to declare the uptrend has staying power, but it looks promising.

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).

The red line is unchanged from a week ago but the blue line is slightly stronger. Like the prior chart, this chart shows that weakness began at the late January or early February peak.

What does all of this mean? The prior chart is bullish but it could be a premature signal. This chart is neutral, really. So it's difficult to say we'll recover from here, but that's my guess.

$ $ $

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: ACIW, AYI, AMD, AJRD, ATSG, DOX, ABC, ACGL, ATO, AVA, BSET, BBY, BIO, BKH, CLS, CDAY, CVX, CLX, CMTL, CSGP, CRH, CROX, DHR, DVN, FANG, DTE, EIX, EFX, EXC, EXPI, XOM, FFIV, FDS, FICO, FE, FISV, FMC, FORM, FCX, HLIT, HOV, IDA, IDXX, INCY, ISRG, NVTA, KEYS, KLAC, LRCX, RAMP, MANH, MTRX, MDC, MDT, MGEE, MLKN, NTAP, NJR, NEE, NKE, NI, OMCL, OXM, PANW, PKE, PEN, PNW, POR, PPL, PEG, QCOM, RMBS, RGS, SMG, NOW, SKYW, SMAR, SWN, SR, SPSC, TPR, TRGP, TDOC, TFX, TEVA, TWLO, VLO, VMI, VECO, WDAY, XEL, IYM, IYE, IDU, FDN, BOTZ, QQQ, IHF, SOXX, SLV, IEO, IHI, EWO, ECH, EWQ, EWG, EIS, EWI, EWM, EWS, EWY, EWP, EWD, EWL, EWT, TUR, EWU, QLD, PEJ, PXJ, IEV, XLY, XLU, UNG, 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

Tuesday 3/21/23. Slider Trading Quiz! Xcel Energy

$ $ $

I show another slider trading quiz featuring Xcel Energy: XEL stock.

$ $ $

Here's a symbol list of 101 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ATSG, AA, ALL, ABC, APOG, ATR, AIZ, BMI, BBBY, BERY, BKNG, BOOT, BRC, BBW, BLDR, CBT, CALM, CX, CENX, CF, CHKP, CLNE, CLF, CNA, CXW, CW, DFS, ^DJI, DRQ, EXP, EXC, FDP, IT, HAYN, HL, HSII, HP, HNI, HOV, IDA, NSP, IBP, PODD, IBKR, IPI, IRM, KBAL, KSS, LH, LLY, M, MGY, MAN, MTRN, MTRX, MLKN, MOS, PKG, PEN, PSTG, RGS, RLI, RES, SLGN, SXI, SSYS, SRDX, TPR, RIG, TWLO, SLCA, UNM, WERN, IYM, IYK, IYE, IEZ, IHE, IHF, IGE, EIS, EWJ, EWS, TUR, PBE, PXJ, IXN, XLP, XLE, XLB, UNG, 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

Monday 3/20/23. 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 industrials on the daily scale.

I don't show enough of the chart but it looks to me like the index could drop as far as B (where the uptrend began) to A (a minor high). That AB region could support price.

CD is a double top, confirmed when the index closes below the blue line, which is the lowest low between the two peaks.

Notice at D, a thick top, resists the pullback E, from going higher.

The drop from D to E to where it is now, is a pattern called a measured move down. That pattern suggests price will rise up to the retrace (the corrective phase of the MMD) which ends at E. That's about 32,900.

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 100 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AMD, A, APD, AA, ATR, ANET, AVY, BMI, BSET, BAX, BBBY, BKNG, BMY, BR, BRKR, BLDR, CALM, CX, CNC, CNP, CENX, CDAY, CIEN, CLF, DSGR, DRQ, EXP, EL, EZPW, FDX, FDP, FRD, HAYN, HSII, HP, HSY, HOLX, HOV, HUBG, IBP, ITGR, IPI, IRM, JNJ, LH, LDOS, LNC, LMT, LOW, M, MGY, MAS, MTRN, MTRX, MRCY, MSFT, MOS, NFLX, JWN, NVDA, ORI, PCTY, PKI, DGX, RRC, RGS, RLI, ROL, ROP, RES, SMTC, SXI, TECH, TPX, RIG, TG, TWLO, SLCA, WERN, WSM, WOLF, IYM, IEZ, IYH, THD, PXJ, GLD, UNG. 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.

-- Thomas Bulkowski

Friday 3/17/23. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 135 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, AEIS, AMD, AJRD, AA, DOX, ABC, AMAT, ATR, ACGL, BMI, BCPC, BECN, BKNG, BLDR, CX, CENX, CIEN, CLF, DECK, XRAY, DSGR, DRQ, DTE, EXP, EMN, EXPD, EZPW, FAST, FTNT, FRD, GME, GFS, HAYN, HSII, HP, DHI, HOV, IEX, IDXX, INCY, IBP, PODD, IPI, KELYA, LANC, LEN, LNC, LXU, MTSI, M, MGY, MCHX, MRTN, MTRN, MTRX, MRCY, MSFT, MLKN, MOS, NBR, NFLX, NEU, NXGN, NWPX, NOVT, ASGN, ON, OTEX, OXM, PATK, PFE, PLXS, PINC, PGR, DGX, RLI, ROP, RES, SWN, SXI, SCS, SNPS, TDY, TDC, TER, TEVA, TMO, TSCO, RIG, TZOO, TG, TWLO, SLCA, UPS, UNH, VFC, VECO, VEEV, VRTX, V, WSO, WERN, IYM, IYC, ITB, IEZ, IHE, BOTZ, IHI, EWK, EWH, EIS, EWI, EWW, DBA, PBE, PXJ, PJP, ILF. 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.

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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 3/16/23. 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 1s are left shoulders of a complex head-and-shoulders bottom. The 2s are the right shoulders. The head is the lowest low in the pattern, between 1 and 2.

Notice that there are more 2s than 1s and that's odd. It makes me suspect that this chart pattern is unreliable.

Indeed, the rise after price closed above the red neckline (A) didn't go as far up as it should have (the height of the pattern at the head to the neckline directly above added to the neckline pierce gives the typical target).

Notice that at B, the index finds support at the neckline.

The index looks to find resistance at 11,500. So it may stall there or even turn down. After a big plunge today and swift recovery, we might see the index gap open higher as a snap back recovery.

With that, I think I've covered all of the bases: down, sideways, up. 8-)

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Here's a symbol list of 287 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ACIW, AMD, AJRD, AFL, A, APD, ATSG, ALK, ALB, AA, ALGT, ALL, AEL, AXP, AFG, AIG, AME, AMGN, APH, AON, APA, ATR, ACGL, ASH, AIZ, AVNT, AXS, BMI, BERY, BMRN, BA, BKNG, BFH, BCO, BLDR, CBT, CPB, CE, CLS, CX, CENX, CF, CINF, CSCO, CLF, CNA, CNO, CTSH, CL, CMCO, CONN, COP, GLW, CCK, CMI, CW, DVN, FANG, DFS, DSGR, DOV, DRQ, BOOM, EXP, EME, EMR, WIRE, EOG, EFX, EQT, RE, EVH, EXC, EXPI, XOM, EZPW, FDX, FIS, FLS, FORM, FCX, GD, GNW, GMS, GS, GFF, GES, HSC, HIG, HAYN, HSII, HP, HON, HOV, HWM, HUM, IEX, ITW, IBP, IIIN, IBKR, TILE, IPI, KELYA, KMT, KMB, KLIC, LHX, LZB, LH, LAMR, LDOS, LNC, L, LPLA, LXU, M, MGY, MRO, MLM, MA, MTDR, MTRN, MTRX, MRCY, MSFT, MLKN, MS, MOS, MUR, NBR, NOV, NCR, NEU, NXGN, NWPX, OXY, OLN, OMC, PKG, PTEN, PXD, PLXS, PPL, PFG, PRU, QTWO, KWR, RJF, RGA, RLI, RHI, RES, SLB, STR, SKYW, SMAR, SCCO, SWN, SPLK, SXI, SCS, SSYS, SUM, TPR, TRGP, TDOC, TPX, TEVA, TXT, TKR, RIG, TRV, TZOO, TG, TWLO, SLCA, VLO, VEEV, VMC, WERN, WLK, WEX, WSC, ITA, IYM, IYK, IYE, IEZ, IHE, FXI, IYH, IGE, IEO, IYF, EWA, EWZ, EWC, ECH, EEM, EWH, EWJ, EWM, EWW, EPP, EZA, EWY, EWP, EWT, TUR, EWU, PPA, DBA, PEJ, PXJ, PHO, ROBO, IXC, ILF, MXI, XLE, XLF, XHB, XLI, XLB, XAR, UNG, USO, 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.

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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 3/15/23. 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.

After the two bank failures took the indices down Friday, they recovered and the CPI turned bullish as the green vertical bar on the far right of the chart shows.

The markets made a nice recovery today.

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 lines are worse today than they were a week ago. In fact, the red line took a steep dive over the last few days. Today, the red line moved higher, following the markets upward.

The CPI chart is bullish. This chart is ambiguous. I say that because the red line has made a big drop and only a slight recovery. You can argue that the CPI chart followed the same path: big drop and slight recovery.

So where does that leave us? I thought yesterday that buying something in the financial sector (like an ETF), would serve as a short-term play. Buy when quality securities are hit because of the troubles of another. I think it's too early to say whether today's snap-back rally will last.

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Here's a symbol list of 136 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, AEIS, AMD, APD, ALK, AA, AEL, AXP, AMGN, APOG, ATR, AGO, AXS, BMI, BAX, BECN, BBBY, BBY, BKNG, BAH, BFH, BLDR, BG, CX, CNP, CENX, CI, CLNE, CLF, CNO, CNX, CAG, DECK, XRAY, DRQ, BOOM, EXP, WIRE, EXPD, FISV, FDP, GIS, GNW, GL, GMS, GES, HIG, HE, HAYN, HQY, HSII, HELE, HP, HSIC, HOLX, HON, HOV, JBHT, IDA, IBP, PODD, IPI, JKHY, KSS, LANC, LNC, LMT, LPLA, LXU, M, MGY, MKTX, MRTN, MTRN, MRCY, MGEE, MSFT, MLKN, MOS, NBR, NOV, NTGR, NXGN, JWN, NOC, NUS, PKE, PEN, PPL, PINC, PRU, QTWO, RGA, RLI, ROL, RES, R, CRM, SMAR, LUV, SR, SXI, TDOC, RIG, TZOO, TWLO, UHAL, SLCA, UIS, UNH, UNM, VFC, VLO, VEEV, WRB, WMT, WERN, WEX, WDAY, IYM, IEZ, IHE, BOTZ, IYH, IEO, EWJ, EWM, EWY, THD, PXJ, XLV, VHT. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 3/14/23. Slider Trading Quiz! Ugly Bottom Tutorial

$ $ $

I show another slider trading quiz featuring an ugly bottom tutorial.

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Here's a symbol list of 239 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACIW, AFL, ALRM, ALK, ALGT, ALL, AYX, DOX, AEO, AEL, AXP, AFG, AIG, APOG, AAPL, ARCB, ACGL, AIZ, AGO, AVNT, AXS, AZTA, BSET, BBY, BIO, BA, BOOT, BSX, BFH, BCO, BBW, BG, CAL, CPB, CLS, CX, CF, CIEN, CINF, CNA, CNO, CMCO, CMTL, CONN, COP, CRH, CCK, CSGS, CW, DVN, FANG, DFS, DRQ, BOOM, EXP, EBAY, EIX, EME, EMR, WIRE, RE, EVH, EXC, EZPW, FIS, FISV, FORM, GD, GNW, GPN, GL, GMS, GS, GES, THG, HSC, HIG, HAYN, HQY, HTLD, HL, HP, HSY, DHI, IEX, ILMN, IIIN, PODD, IBKR, TILE, JKHY, KELYA, KMT, KSS, KLIC, LRCX, LAMR, LEG, LEN, LNC, RAMP, L, LPLA, LXU, M, MAN, MRO, MRTN, MLM, MAS, MTRX, MRCY, MGEE, MSFT, MLKN, MOS, MUR, MYGN, NBR, NOV, NCR, NTAP, NWL, NEU, JWN, NWPX, ORI, OLN, OMC, ASGN, OTEX, PKG, PATK, PYPL, PLXS, PPL, PFG, PRU, QTWO, RMBS, RJF, RTX, RGA, RNG, RHI, RES, R, SBH, SLB, SCHW, SEIC, SIGI, SO, LUV, SWN, SXI, SCS, TPR, TPX, TXT, TRV, TREX, TWLO, UHAL, SLCA, UIS, UNM, VFC, V, VC, WRB, WERN, WU, WEX, ITA, IAI, IYC, IYE, ITB, IEZ, IAT, SLV, IEO, IYF, EWA, EWO, EWK, ECH, EWQ, EWG, EWH, EWI, EWM, EWW, EPP, EWS, EWP, THD, QLD, PEJ, PXJ, IXN, ILF, XLE, XLF, GLD, XHB, XLB, XRT. Click this link for details (pattern type, start and end dates).

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

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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 3/13/23. Market Monday: The Week Ahead

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

My Prediction

The three peaks Pattern, 1, 2, 3, is either a triple top or a three falling peaks chart pattern. It confirms as a valid chart pattern.

Pattern A is a symmetrical triangle with an upward breakout that leads to a big and strong two bar rally. From there, the index has eased lower as the blue lines attest.

It looks as if the downtrend is gathering steam. I drew the bottom blue line parallel to the top one as of the nearest minor low from the end of the chart. Notice that today's (Friday's) price bar cuts through the line, signaling a downward breakout.

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I pre-released a new version of Patternz, 7.0.0.51 which has big speed improvements, with faster loading and faster candle processing. I'm still working on improving the program's features.

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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.

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 251 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACIW, ADBE, ADTN, AJRD, APD, ATSG, ALK, ALB, ALGT, AYX, AEP, AEL, AXP, AIG, APH, ANIK, APOG, AAPL, AIZ, AGO, AVNT, AZTA, BCPC, BSET, BECN, BBBY, BKH, BOOT, BR, BBW, BG, CLS, CX, CENX, CDAY, CRL, CIEN, CTAS, CSCO, CNO, CNX, CTSH, CMCO, COST, COTY, CR, CCRN, CCK, CSGS, DFS, DSGR, ^DJT, DOV, EBAY, EIX, WIRE, EPAM, RE, EVRG, EVH, EXC, EXPD, FAST, FIS, FLS, FORM, GPS, IT, GPN, GL, GMS, GS, HBI, HSC, HAYN, HTLD, HELE, HOLX, DHI, HUM, IEX, IDXX, NSP, IIIN, TILE, INTU, JKHY, KMT, KFRC, KSS, LRCX, LEG, LNC, RAMP, LXU, M, MRO, MCHX, MAS, MA, MTDR, MTRN, MTRX, MDC, MRCY, META, MGEE, MLKN, MYGN, NFG, NCR, NTAP, NJR, NWL, NKE, NI, NWPX, NOVT, OXY, OLN, OMC, ASGN, PKG, PYPL, PRFT, PKI, PNW, PPL, QTWO, KWR, RMBS, RJF, RTX, RGA, RNG, RHI, ROK, RES, R, SCHW, SAIC, SEIC, SMTC, SHOP, LUV, SWX, SWN, SCS, SSYS, TPR, TECH, TPX, TKR, TDG, TRV, TZOO, TWLO, UNM, VFC, VECO, VRSN, V, WERN, WU, WMB, ITA, IYM, IAI, IYC, IYE, ITB, IEZ, IHE, FTEC, FDN, FXL, BOTZ, IAT, IGE, IYF, EWO, EWZ, ECH, EEM, EWH, EIS, EWM, EWW, EPP, EWS, EZA, EWD, EWT, QLD, PPA, DBA, PEJ, PXJ, PHO, ROBO, IXN, XLP, XLE, GLD, XHB, XLI, XRT, XAR, XLK, XLU, UNG. 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.

-- Thomas Bulkowski

Friday 3/10/23. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 237 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACN, ACIW, ADBE, A, ATSG, AEP, AEL, AMWD, AME, APH, APA, APOG, AAPL, ADM, ARW, ASH, AIZ, ATO, AVY, AVNT, AXS, BMI, BCPC, BECN, BBBY, BIG, BKH, BA, BR, BBW, CPB, CE, CX, CNC, CENX, CF, CHKP, CIEN, CTAS, CSCO, CL, CMCO, CMTL, COP, COST, CCK, DHR, FANG, ^DJU, ^DJT, ECL, EIX, ELV, EME, WIRE, EOG, EXC, EXPD, FAST, FE, FLS, FMC, FTV, IT, GE, GPN, GL, GOOGL, GGG, HLIT, HSC, HAYN, HSIC, HD, HWM, JBHT, IDXX, ITW, IIIN, IPG, IPI, INTU, ISRG, NVTA, IRM, JKHY, JAZZ, KELYA, KMT, LAMR, LNC, L, MANH, MRO, MLM, MAS, MA, MTRX, MRCY, META, MOS, MYGN, ^IXIC, NFG, NOV, NFLX, NJR, NKE, NI, NUS, NTNX, OXY, OGE, OLN, OUT, OMI, PKG, PANW, PKE, PAYX, PNW, POR, PPG, PPL, PG, QTWO, QCOM, DGX, RMBS, RTX, RGS, RGA, ROK, RCKY, RES, ^GSPC, SAIA, SLB, SCHW, SEE, SRE, SMTC, SHOP, LUV, SWX, SWN, SR, TGT, TDC, TXN, TXT, TKR, TJX, TDG, TRV, TZOO, TG, TWLO, UHAL, UPS, VFC, VMI, VRSN, VMC, WSO, WERN, WU, WLK, WEX, WOLF, WWW, ZBRA, IAI, IYK, IYC, FTEC, FXI, BOTZ, QQQ, ICF, IAT, IGV, IYF, IHI, EWA, EWK, EWZ, EWC, ECH, EEM, EIS, EWW, EPP, EWS, EWD, EWL, THD, EWU, QLD, PPA, PBE, PEJ, PXJ, ROBO, IXN, ILF, SSO, MXI, XLP, XHB, XLI, XLB, XRT, SPY, XLK, XLU, UNG, 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.

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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 3/9/23. Cryptocurrency: Bitcoin

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 cryptocurrency bitcoin, BTC-USD.

At A, the currency formed what's called an ascending scallop. A smaller and more narrow scallop happens at B.

Often when you see several scallops in a row, they will get narrower as they ascend the price chart. That signals the end of the uptrend is near. In a few cases, I've seen the reverse, with scallops getting wider and taller as they ascend, also signaling a trend end nearing.

However, it does look like the currency is getting tired, that it's taking a break before setting off in a new direction.

In this case, there's only two scallops (I like to see three in a row, each consecutively narrower or wider than the previous one), so the jury is out as to what it might portend.

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Here's a symbol list of 106 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AYI, ADBE, ADTN, APD, ATSG, AME, AON, AAPL, ADSK, AXS, BBBY, BA, BOOT, BAH, BFH, CHKP, GLW, CSGS, EOG, RE, EVRG, EXPD, FARO, FIVN, GD, GL, GOOGL, HSC, HIG, HAYN, HL, HNI, HOLX, DHI, JBHT, HURC, IPG, INTU, NVTA, JBLU, JNJ, KALU, KBAL, LZB, RAMP, L, MTSI, M, MRTN, MAS, MA, MTRX, MDC, NBR, NCR, NEE, NTNX, OMCL, PKE, PXD, PINC, PGR, DGX, RTX, REGN, RGS, RGA, RCKY, ROL, ROST, NOW, SHOP, STR, SNPS, TECH, TDY, TKR, RIG, TRV, TWLO, VMI, V, ITB, FDN, FXI, IAT, SOXX, SLV, IYF, ECH, EWH, EIS, EWS, EZA, QLD, PBE, GLD, XRT. Click this link for details (pattern type, start and end dates).

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

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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 3/8/23. 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.

This chart is bearish, as the vertical red bar on the far right of the chart shows.

We've had a cluster of red-neutral swing, something I can't recall seeing (that means I wasn't looking for it).

I noticed yesterday that the CPI turned bearish right at the peak. That surprised me because price had climbed to a relative high and yet the CPI had turned bearish. Today, the bearish signal remains.

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).

Not much as changed over the prior week. The red line is a touch more bearish this week.

The chart shows the red line trending lower after peaking in late January.

Both charts are bearish. This chart isn't as bearish as the CPI chart. I say that because the drop this week compared to prior weeks is minor, just one percentage point (red line only). The CPI chart seems to indicate that the upward retrace has ended. We'll continue moving lower for a time.

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Here's a symbol list of 205 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ACIW, ADBE, AMD, APD, ATSG, ALB, ALKS, DOX, AEE, AEP, AIG, ABC, AME, AMGN, APH, ANIK, AON, AAPL, AMAT, ATO, ADSK, AVA, AXS, AZTA, BMI, BALL, BECN, BBBY, BERY, BMRN, BKH, BA, BOOT, BAH, BLDR, CACI, CPB, CRL, CTAS, ED, GLW, CCK, CSGS, DUK, ECL, ELV, EOG, EFX, EXC, EXPD, FFIV, FDS, FDX, FE, FIVN, FLEX, FORM, FCX, GD, GL, GOOGL, GPRO, HSC, HIG, HAYN, HSII, HSIC, HNI, HD, HON, HOV, IDXX, ITW, INCY, IBP, INTC, IPG, ISRG, JKHY, JBLU, JNJ, KALU, KBAL, KMB, LAMR, LLY, L, LOW, M, MRTN, MA, MTDR, MTRX, MDT, MSFT, MCO, NBR, NCR, NTGR, NJR, NEWR, NEU, JWN, OLN, ASGN, OMI, PKE, PCTY, PEN, PKI, PXD, POR, PPL, PINC, PGR, QTWO, RTX, REGN, RGS, ROK, RCKY, ROL, ROST, SMG, SEIC, SRE, SMTC, SHW, SHOP, STR, SWX, SR, SPSC, TECH, TDY, TEVA, TKR, TJX, RIG, TRV, TWLO, SLCA, UIS, VFC, VMI, VECO, VRTX, V, WRB, WMT, WAT, WEX, WSM, XEL, ZBRA, ITB, IDU, DDM, FDN, FXI, IYH, SLV, ECH, EEM, EIS, EWI, EWY, EWP, EWD, EWL, QLD, PEJ, PXJ, PJP, PHO, SSO, XLP, XLU. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 3/7/23. Slider Trading Quiz! Tuesday Morning (TUES)

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I show another slider trading quiz featuring Tuesday Morning: TUES stock.

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Here's a symbol list of 197 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, ANF, ALGT, DOX, AMED, AXP, ANIK, AAPL, AMAT, ARCB, AWI, AIZ, AVY, AVA, AXS, AZTA, BMI, BALL, BSET, BECN, BERY, BIO, BMRN, BKH, BRC, BBW, BLDR, CAL, CE, CRL, CIEN, CMTL, ED, CONN, GLW, CCK, CTS, DDS, DSGR, ^DJT, DRQ, ECL, EMR, EZPW, FFIV, FARO, FLS, FORM, FRD, GE, GMS, GOOGL, GPRO, GES, HIG, HAYN, HQY, HL, HSII, HNI, HOV, HURC, INCY, IBP, IIIN, INTC, IBKR, NVTA, JKHY, JNJ, KALU, KELYA, KBAL, LRCX, LNC, RAMP, LMT, L, MTSI, MANH, MAN, MRTN, MAS, MDC, MDT, MSFT, MLKN, NCR, NTGR, NEWR, NOC, NWPX, NTNX, OLN, OMI, OXM, PKG, PATK, PYPL, PKI, PCG, PPG, PSTG, QTWO, RL, RGS, RLI, ROK, RCKY, SBH, SMG, SMTC, SHW, SKYW, SMAR, SR, SXI, SSYS, TFX, TER, TEVA, TTD, TKR, TSCO, RIG, TG, TREX, TWLO, SLCA, UIS, UPS, VECO, WRB, WERN, WEX, ZBRA, IYM, IYK, ITB, DDM, FTEC, BOTZ, IYZ, EWO, EWQ, EWG, EWI, EWJ, IBB, PBE, PEJ, PJP, PHO, IXN, MXI, XLF, XLB, XRT, XLK, 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.

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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 3/6/23. 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 Dow utilities on the daily scale.

Not much is happening on this chart. At AB, we see a pattern called an inverted and ascending scallop.

That chart pattern starts out from a valley (A), rounds over at C and drops to B. B remains above A, often by a large amount such as that shown here. In a bull market in stocks, 95% of them breakout upward.

What's a breakout? That happens when the stock (or index) closes above the top of the chart pattern after the B bottom. That hasn't happened yet. Indeed, the index could continue lower and not be a IA scallop at all.

The average retrace of the CB drop as a percentage of the AC rise is 54%, or about halfway down before the security turns up.

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 151 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ADBE, AMD, AJRD, AFL, A, ALRM, AYX, AEP, AEL, AIG, ANET, ADSK, AVY, AZTA, BZH, BIO, BKNG, BRC, BR, BRKR, CBT, CAL, CX, CENX, CDAY, CSCO, CMTL, CONN, CSGP, COTY, CCK, DHR, DFS, ^DJU, EL, EVRG, EXC, FFIV, FICO, FTNT, IT, GE, GGG, GFF, HL, HSIC, HOLX, HD, HOV, HWM, IDXX, ITW, IIIN, ISRG, KBH, KELYA, KBAL, LAMR, LDOS, MHO, MCHX, MKTX, MLM, META, MLKN, MOS, ^IXIC, NI, NWPX, NVDA, OGE, OTEX, PEN, PKI, PETS, PFE, PCG, PPG, PPL, PHM, QTWO, RMBS, RGS, RES, ^GSPC, SLB, NOW, SHOP, SCCO, SWN, SCS, TER, TMO, TKR, TOL, TRV, TWLO, SLCA, UNM, VLO, VEEV, VRSN, VC, WSO, WMB, WDAY, XEL, IYK, IEZ, IDU, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, SOXX, IHI, EWK, ECH, EWQ, EWG, EWI, EWJ, EWL, THD, EWU, QLD, PXJ, PJP, PHO, ROBO, IXN, SSO, MXI, GLD, XHB, XRT, SPY, XLK, XLU, USO, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 3/3/23. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 144 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AYI, AKAM, DOX, AMWD, AMN, APOG, AMAT, AWI, AIZ, BMI, BBBY, BBY, BIO, BAH, BRC, BR, BBW, CBT, CLS, CF, CRL, CHD, CLNE, CLF, CTSH, GLW, COTY, CRH, CCK, DECK, BOOM, EVRG, FFIV, FDS, FARO, FORM, FTV, GME, GD, GE, GIS, GMS, GGG, GFF, GES, HSC, HOLX, HON, HOV, IEX, IDXX, INFN, PODD, IBKR, IPG, IPI, KBAL, LHX, LZB, M, MKTX, MAS, MDC, MDT, MGEE, MU, NCR, NKE, NOC, NWPX, OMC, OTEX, OUT, PAYX, PKI, PLXS, PRU, RTX, ROK, RCKY, CRM, SEIC, STR, SPSC, SUM, SNPS, TDOC, TDY, TDC, TXT, TRV, TREX, TWLO, SLCA, VFC, MDRX, WRB, WERN, WU, IAI, IYK, IYC, IDU, FTEC, FXI, IYH, IAT, IYF, EWK, EEM, EWG, EWH, EWS, EWT, EWU, PPA, PXJ, PJP, IXN, SSO, XLV, 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.

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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 3/2/23. 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.

This chart looks complicated, but it's really not.

At AB, we see a double bottom. It confirms as a valid chart pattern when the index closes above the highest peak between the two bottoms. I show that level with red line C. It confirms when the market gaps up higher at D.

EF is the reverse pattern, a double top. It confirms at G, the blue line.

At H, we see two bottoms that are a potential double bottom. It is unconfirmed as yet (price has to close above the peak at H). It looks promising that the index will confirm it tomorrow or the next day.

$ $ $

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: DDD, ANF, ACIW, A, AA, ALKS, AEE, AEP, AIG, ADM, AIZ, ATO, BCPC, BSET, BKH, BRC, BBW, CENX, CLNE, CTSH, CL, ED, COST, XRAY, ^DJU, DOV, DTE, DUK, EVRG, EXC, FFIV, FDS, FCX, GME, GPS, GNW, GL, GES, HBI, THG, HAYN, HOLX, HD, HOV, IBP, ITGR, IPAR, IPG, NVTA, JKHY, K, KELYA, KLIC, LZB, LANC, LNC, MGY, MKTX, MAS, MTDR, MDT, MU, MSFT, MOS, MYGN, NOV, NCR, NJR, NOVT, NUS, OMCL, PTEN, PPL, PINC, DGX, RGS, RCKY, SBH, SAIC, SEE, SRE, SHOP, SLGN, SO, SCCO, SR, SCS, SUM, TPR, TKR, TJX, TDG, TG, TWLO, SLCA, UGI, MDRX, VC, WU, WLK, WSM, WOLF, WWW, IAI, IYK, IYC, IDU, FTEC, QTEC, ICF, IAT, EWO, EWQ, EWI, EZA, EWL, THD, TUR, PJP, IEV, IXN, SSO, MXI, XLP, GLD, 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 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 3/1/23. March Forecast Update

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

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Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 2/28/2023 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 2/24/23.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 2/27/23. The numbering is how they ranked a month ago.

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Here's a symbol list of 113 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ALGT, AEP, APH, ANIK, AMAT, ADM, ATO, AVNT, BBBY, BERY, BKH, BBW, BG, CAL, CLS, CHS, CLNE, CLF, CTSH, ED, COP, COTY, XRAY, FANG, DRQ, DTE, EMN, EOG, EFX, FIS, FDP, FRD, GE, HSII, HOLX, HOV, HUN, HURC, NSP, ITGR, IPG, INTU, K, KMB, LZB, LDOS, LLY, LOW, MRO, MTDR, MRCY, META, MUR, MYGN, NI, NWPX, NUS, ORI, OLN, OMI, PTEN, PRFT, PFE, PLXS, PPL, PINC, DGX, RL, RMBS, RES, R, SLB, SAIC, SRE, NOW, SWX, SR, SUM, TPR, TRGP, TXN, TDG, TG, TWLO, SLCA, VLO, VECO, WWD, IAI, IYK, IYE, IDU, IYH, IHF, IGE, IEO, EWO, EWZ, EWI, EWP, THD, PJP, IXC, ILF, XLP, XLE, XLB, VHT, VAW. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

 

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