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

May 2023 Headlines

Archives


Wednesday 5/31/23. A Look At Indicators

Picture of the chart pattern indicator

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

The CPI is bearish and it's been that way for about two weeks and yet price has climbed over that time (in the index).

It suggests the index will turn lower, but I'm not so sure. If congress raises the debt ceiling, I think we'll get a lift. Of course, if congress doesn't do their job, then the index could tumble.

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, 44% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 40%.
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 523 stocks in my database are down an average of 21% 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 the red and blue lines are worse this week compared to last week. Since mid April, the red line has eased lower, suggesting weakness.

Both charts are weak or bearish this week but the final direction rests with congress and the debt limit.

$ $ $

Here's a symbol list of 181 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, ADTN, AEIS, AFL, ATSG, AKAM, ALKS, ALGT, AMWD, AR, APOG, AAPL, ARCB, AWI, ADP, BALL, BIG, BMRN, BSX, BRC, BCO, BMY, BR, BRKR, CALM, CLS, CX, CNC, CNP, CENX, CDAY, CVX, CHS, CGNX, CL, CSGP, CROX, CMI, XRAY, FANG, DRQ, BOOM, ELV, EOG, EPAM, EVH, XOM, FRD, GIS, GNW, GILD, HE, HAYN, HSII, IDA, INFN, IBKR, INTU, K, KELYA, KMB, LAMR, M, MAN, MAS, MA, MDT, MGEE, MLKN, MOS, NBR, NOV, NCR, NFLX, NJR, NEE, NKE, NOVT, NTNX, NVDA, OMI, OXM, PATK, PTEN, PRFT, PETS, PFE, PCG, PINC, PG, PSTG, KWR, QCOM, RRC, RNG, RLI, RHI, RES, R, SBH, SEIC, SIGI, SWX, SWN, SR, SPSC, SCS, SNPS, TPR, TRGP, TTD, TOL, VECO, V, WERN, WU, WEX, WPM, WWW, WDAY, IYK, IYE, IEZ, IHE, IDU, FTEC, BOTZ, IXC, IGE, IEO, IHI, EWZ, EWC, ECH, EWH, EIS, EWM, EWW, EWS, EZA, EWY, TUR, IBB, PBE, PEJ, PXJ, PJP, ROBO, XLE, SPY, XLK, XLU, UNG, USO, 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

Top


Tuesday 5/30/23. Slider Trading Quiz! Vulcan Materials: VMC

The Dow climbed by 1.0% or 328.69 points. Since 10/01/1928 the Dow made 443 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 232 occasions.
     Average loss was -0.8% on 211 occasions.
Expect the Dow to close higher 52.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 262/477 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 Vulcan materials: VMC stock.

$ $ $

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: DDD, AXDX, ACN, AEIS, AMD, ATSG, AYX, DOX, AEE, AEP, ANIK, ATR, ACGL, ANET, ADP, AVY, AVA, AZTA, BMI, BAX, BIG, BMRN, BKH, BSX, BMY, CBT, CDNS, CAL, CNC, CENX, CHS, CIEN, CI, CLNE, CNA, CNO, CTSH, CMCO, ED, CR, ^DJU, ^DJT, ^DJI, D, DUK, ELV, WIRE, EPAM, EXC, FDX, FIVN, FRD, GILD, GFS, GS, GOOGL, GPRO, HBI, THG, HAYN, HELE, INCY, TILE, JAZZ, K, KMT, LH, MGY, MCHX, MA, MTDR, MDC, MDT, MGEE, MS, MYGN, NBR, JWN, NTNX, NVDA, OMCL, OMI, OXM, PTEN, PFE, PXD, PPL, PEG, RRC, RNG, ROG, RES, CRM, SIGI, SCI, SKYW, SMAR, SO, SWN, TXN, TRV, TREX, TWLO, VMI, WMB, WDAY, IAI, IYC, ITB, IHE, FDN, QTEC, FXL, BOTZ, IHF, IGV, IXN, ILF, SOXX, SLV, IEO, EWZ, EEM, EWH, EIS, EWM, EPP, EWS, EZA, EWT, DBA, PJP, GLD, XRT, SPY, 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.

$ $ $

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  31,641.31    
 Weekly S2  32,138.33  497.02   
 Monthly S1  32,367.32  229.00   
 Weekly S1  32,615.83  248.51   
 Daily S2  32,650.41  34.57   Yes! The Daily S2 is close to the Weekly S1.
 Low  32,795.50  145.09   
 Open  32,795.50  0.00   Yes! The Open is close to the Low.
 Daily S1  32,871.88  76.38   
 61.8% Down from Intraday High  32,935.53  63.65   
 50% Down from Intraday High  32,978.78  43.25   
 Daily Pivot  33,016.96  38.18   
 38.2% Down from Intraday High  33,022.04  5.07   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Weekly Pivot  33,064.07  42.03   
 Close  33,093.34  29.27   Yes! The Close is close to the Weekly Pivot.
 High  33,162.06  68.72   
 Daily R1  33,238.43  76.38   
 Monthly Pivot  33,312.58  74.14   
 Daily R2  33,383.53  70.95   
 Weekly R1  33,541.57  158.05   
 Weekly R2  33,989.81  448.23   
 Monthly R1  34,038.59  48.79   
 Monthly R2  34,983.85  945.25   

Friday 5/26/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 228 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ABM, AYI, AEIS, AMD, AFL, ALRM, AA, AYX, DOX, AEE, AEO, AEP, AMWD, AMGN, APH, ARCB, ANET, ARW, ATO, ADP, AVA, AXS, AZTA, BMI, BALL, BAX, BECN, BIIB, BMRN, BKH, BKNG, BAH, BFH, BMY, BG, CACI, CALM, CAL, CE, CLS, CNC, CENX, CI, CINF, CSCO, CLNE, CNA, CL, ED, CONN, COST, COTY, DECK, XRAY, DSGR, ^DJU, D, DOV, DTE, DUK, ECL, ELV, WIRE, EPAM, EFX, EVRG, EVH, EXC, EXPI, FIS, FIVN, FLEX, FLS, FNV, GIS, GFS, GL, GPRO, GES, THG, HE, HL, HUM, HURC, INTC, IBKR, TILE, IPG, INTU, IRM, JAZZ, K, LHX, LZB, LNC, RAMP, L, MCHX, MAS, MTRN, MDT, MRCY, MGEE, MU, MSFT, MLKN, MYGN, NWPX, NUS, NTNX, OXY, ORI, OMC, OMI, PATK, PDCO, PAYX, PCTY, PNW, PXD, PPG, PPL, PINC, PG, PEG, PSTG, QTWO, DGX, RJF, RGS, RHI, RCKY, CRM, SLB, SCHW, SAIC, SEIC, SHOP, STR, SKYW, SO, SWN, TGT, TDOC, TEVA, TXT, TJX, TOL, TRV, TWLO, WERN, WU, WEX, WPM, WWW, XEL, ITA, IYM, IAI, IYK, IYC, IHE, FXI, BOTZ, ICF, IYH, IHF, IYZ, IEV, MXI, SLV, IHI, EWA, EWO, EWK, EWC, ECH, EWH, EWI, EWJ, EWM, EPP, EWS, EZA, EWP, EWD, TUR, EWU, IBB, PPA, DBA, PBE, PEJ, PXJ, PJP, XLP, GLD, XLV, XLB, XRT, XAR, VHT, VIS, VAW. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

Top

 

 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ABTDouble Top, Adam and Adam      04/19/202305/03/2023Medical Supplies
ANFDouble Bottom, Adam and Adam      05/04/202305/22/2023Apparel
ALBHorn bottom      04/17/202305/01/2023Chemical (Diversified)
ACGLHead-and-shoulders top      05/01/202305/19/2023Insurance (Prop/Casualty)
ANETDouble Bottom, Adam and Adam      05/04/202305/18/2023E-Commerce
ADSKTriangle, ascending      04/27/202305/16/2023Computer Software and Svcs
AVATriple top      04/12/202305/10/2023Electric Utility (West)
CALTriple top      04/24/202305/18/2023Shoe
CETriple bottom      04/26/202305/10/2023Chemical (Basic)
CHKPDouble Bottom, Eve and Eve      05/02/202305/18/2023E-Commerce
CRHTriangle, symmetrical      04/04/202305/10/2023Cement and Aggregates
EBAYDouble Top, Adam and Eve      04/28/202305/09/2023Internet
EPAMPipe bottom      05/08/202305/15/2023IT Services
EXCHead-and-shoulders top      04/12/202305/01/2023Electric Utility (East)
ITDouble Bottom, Eve and Adam      04/26/202305/04/2023IT Services
GDTriangle, symmetrical      05/03/202305/17/2023Aerospace/Defense
GFFRising wedge      04/19/202305/22/2023Building Materials
HSCDouble Top, Eve and Eve      05/10/202305/19/2023Diversified Co.
HPTriple bottom      05/04/202305/17/2023Petroleum (Producing)
IPGPipe bottom      04/24/202305/01/2023Advertising
JKHYPipe top      04/24/202305/01/2023IT Services
KLICHead-and-shoulders bottom      04/25/202305/11/2023Semiconductor Cap Equip.
LRCXTriangle, symmetrical      04/20/202305/12/2023Semiconductor Cap Equip.
LENTriple top      05/03/202305/19/2023Homebuilding
MRODouble Bottom, Adam and Eve      05/04/202305/16/2023Petroleum (Integrated)
MTDRTriple bottom      05/04/202305/17/2023Petroleum (Producing)
MURDouble Bottom, Adam and Eve      05/03/202305/12/2023Petroleum (Integrated)
MYGNPipe bottom      05/08/202305/15/2023Biotechnology
NXGNPipe top      04/17/202304/24/2023Healthcare Information
NWPXDouble Bottom, Adam and Eve      05/04/202305/16/2023Building Materials
PANWHead-and-shoulders bottom      04/06/202305/18/2023Computer Software and Svcs
PNWTriple top      04/06/202305/12/2023Electric Utility (West)
PORTriple top      04/12/202305/08/2023Electric Utility (West)
PEGTriple top      04/21/202305/10/2023Electric Utility (East)
KWRDouble Top, Eve and Eve      05/08/202305/19/2023Chemical (Specialty)
RNGUgly double bottom      05/04/202305/16/2023Computer Software and Svcs
RLIPipe top      04/17/202304/24/2023Insurance (Prop/Casualty)
ROPDouble Top, Eve and Eve      05/02/202305/15/2023Industrial Services
SPLKHead-and-shoulders bottom      04/25/202305/12/2023E-Commerce
TPRBroadening bottom      03/27/202305/18/2023Apparel
TXNTriple bottom      04/27/202305/11/2023Semiconductor
TRVTriple top      04/19/202305/19/2023Insurance (Prop/Casualty)
TWLOPipe bottom      05/08/202305/15/2023E-Commerce
VTriangle, symmetrical      05/05/202305/22/2023Financial Services
WLKBroadening top      04/03/202305/05/2023Chemical (Basic)
ITATriple bottom      03/15/202305/04/2023Aerospace/Defense
IYMDouble Bottom, Eve and Eve      03/15/202305/24/2023Metals and Mining (Div.)
IAIDouble Top, Eve and Eve      09/18/201911/15/2019Securities Brokerage
IYKTriple bottom      04/30/201506/30/2015Household Products
IYCTriple bottom      04/06/202305/04/2023Retail Store
IYEDouble Bottom, Eve and Eve      08/27/201910/03/2019Petroleum (Integrated)
ITBDouble Top, Eve and Eve      12/13/202112/30/2021Homebuilding
IEZTriple bottom      03/24/202305/16/2023Oilfield Svcs/Equipment
IDUTriple bottom      04/03/201705/04/2017Electric Utility (Central)
DOGTriple bottom      01/13/202302/14/2023Short ETFs
DXDDouble Top, Eve and Eve      09/30/202210/13/2022Short ETFs
FTECTriple bottom      05/18/201707/06/2017IT Services
FDNTriple bottom      04/27/201606/27/2016Internet
QTECTriple top      03/07/201404/03/2014Electronics
FXLDouble Top, Eve and Eve      03/13/201806/14/2018IT Services
FXIDouble Bottom, Eve and Eve      07/27/202108/20/2021Investment Co. (Foreign)
BOTZTriple bottom      08/09/202110/06/2021Electronics
ICFTriple bottom      02/21/201803/23/2018Long ETFs
IHFDouble Bottom, Eve and Eve      01/24/202202/24/2022Long ETFs
IATDouble Bottom, Eve and Eve      07/09/202009/24/2020Long ETFs
IYZDouble Top, Eve and Eve      06/08/202008/11/2020Telecom. Equipment
IEVDouble Bottom, Eve and Eve      09/27/202210/13/2022Investment Co. (Foreign)
IGVTriple bottom      05/15/201806/27/2018Computer Software and Svcs
IXCDouble Bottom, Eve and Eve      07/10/202007/31/2020Investment Co. (Foreign)
MXITriple bottom      05/04/201706/21/2017Investment Co. (Foreign)
IXNTriple bottom      07/27/201708/21/2017IT Services
ILFDouble Bottom, Eve and Eve      09/29/202010/29/2020Investment Co. (Foreign)
SOXXDouble Bottom, Eve and Eve      11/25/201112/19/2011Semiconductor
SLVTriple top      01/03/202302/02/2023Metals and Mining (Div.)
IGETriple bottom      06/15/202007/09/2020Petroleum (Integrated)
IEODouble Bottom, Eve and Eve      08/25/201509/29/2015Petroleum (Integrated)
IYFDouble Top, Eve and Eve      04/09/202004/29/2020Financial Services
IHITriple bottom      05/14/202006/25/2020Medical Supplies
EWATriple bottom      03/08/201905/15/2019Investment Co. (Foreign)
EWOTriple top      04/18/202305/08/2023Investment Co. (Foreign)
EWKTriple top      01/17/202304/24/2023Investment Co. (Foreign)
EWZDouble Bottom, Eve and Eve      12/14/202201/04/2023Investment Co. (Foreign)
EWCTriple bottom      12/22/202203/24/2023Investment Co. (Foreign)
ECHDouble Bottom, Eve and Eve      11/18/202212/16/2022Investment Co. (Foreign)
EEMDouble Bottom, Eve and Eve      05/19/201606/27/2016Investment Co. (Foreign)
EWQTriple top      02/03/202303/06/2023Investment Co. (Foreign)
EWGDouble Bottom, Eve and Eve      09/27/202210/13/2022Investment Co. (Foreign)
EWHTriple top      10/20/202111/22/2021Investment Co. (Foreign)
EISTriple bottom      06/17/201909/03/2019Investment Co. (Foreign)
EWITriple top      04/14/202305/05/2023Investment Co. (Foreign)
EWJTriple bottom      05/31/201908/14/2019Investment Co. (Foreign)
EWMTriple top      02/16/202203/25/2022Investment Co. (Foreign)
EWWDouble Bottom, Eve and Eve      09/01/202209/26/2022Investment Co. (Foreign)
EPPTriple bottom      07/31/202010/30/2020Investment Co. (Foreign)
EWSTriple bottom      11/28/202212/16/2022Investment Co. (Foreign)
EZADouble Bottom, Eve and Eve      08/20/202109/20/2021Investment Co. (Foreign)
EWYDouble Bottom, Eve and Eve      05/18/201606/27/2016Investment Co. (Foreign)
EWPDouble Top, Eve and Eve      04/21/202205/27/2022Investment Co. (Foreign)
EWDTriple top      08/04/202109/02/2021Investment Co. (Foreign)
EWLTriple bottom      06/18/202107/19/2021Investment Co. (Foreign)
EWTTriple top      12/13/201901/13/2020Investment Co. (Foreign)
TURTriple top      05/10/202109/02/2021Long ETFs
EWUTriple bottom      09/20/202112/15/2021Investment Co. (Foreign)
QLDDouble Top, Eve and Eve      12/01/202212/13/2022Long ETFs
PSQTriple bottom      11/15/202212/13/2022Short ETFs
QIDDouble Top, Eve and Eve      02/24/202203/14/2022Short ETFs
PPATriple bottom      11/17/202201/20/2023Aerospace/Defense
DBATriple top      08/29/202209/20/2022Investment Co. (Domestic)
PEJTriple bottom      02/10/201206/04/2012Long ETFs

 

Top


Thursday 5/25/23. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -0.6% or -76.09 points. Since 02/05/1971 the Nasdaq made 339 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.2% on 154 occasions.
     Average loss was -0.8% on 185 occasions.
Expect the Nasdaq to close lower 54.6% 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 72/148 or 48.6% 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.

There's not much to discuss on this pic. AB is a double top chart pattern that confirms when the index drops below C, the red line highlighting the valley between the two peaks.

After that, the index drops, just as it's supposed to after confirmation of a bearish chart pattern.

The two s's are potential shoulders of a complex head-and-shoulders top. I didn't think it was well-shaped, so I don't think it's a valid pattern.

Based only on this picture and disregarding debt ceiling news, it looks like the index is resting on support. And that's bullish. So I'd expect a recovery in the days ahead. If we consider the debt ceiling, then who knows what will happen? I've seen estimates of a 17% to 20% drop in the indices if we default. I think it'll be worse, though. And if we pass it, we could see a nice pop, maybe 10%.

$ $ $

Here's a symbol list of 232 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, ABM, ACIW, AYI, AFL, A, AA, ALKS, ALL, AEP, AFG, AMWD, AME, AMGN, AMAT, ARCB, ADM, ANET, AWI, ASH, AGO, AVY, AVA, BMI, BAX, BIO, BIIB, BMRN, BOOT, BAH, BMY, BRKR, CDNS, CALM, CE, CNC, CENX, CF, CHS, CSCO, CNA, ED, CAG, CONN, COST, COTY, CRH, XRAY, ^DJT, D, DOV, EMR, EPAM, EL, EVH, FARO, FIS, FIVN, FLS, FNV, FCX, GFS, GL, GS, GPRO, THG, HL, HSIC, HWM, IDA, ILMN, NSP, IPAR, TILE, IRM, JBLU, KMB, KLAC, LZB, LRCX, LEN, L, LPLA, MTSI, MANH, MCHX, MLM, MAS, MA, MTRN, MDC, MRCY, META, MGEE, MLKN, MYGN, NWL, NEU, NOVT, NVDA, OXY, ORI, OMC, ON, OR, OUT, OMI, OXM, PANW, PETS, PNW, PXD, PPG, PG, KWR, QCOM, RJF, ROK, ROL, ROP, ROST, RGLD, ^GSPC, SBH, SEIC, SCI, SLGN, STR, SKX, SCCO, SWN, SXI, SCS, SUM, SRDX, TPR, TGT, TECH, TDY, TFX, TER, TEVA, TXT, TJX, TSCO, TRV, TZOO, TREX, TWLO, VMI, VEEV, V, WRB, WMT, WAT, WU, WEX, WPM, WWW, WDAY, ITA, IYM, IYK, IYC, ITB, IHE, IDU, QTEC, FXI, ICF, IYH, IYZ, IEV, MXI, SLV, IHI, EWA, EWO, EWK, EWC, EEM, EWQ, EWG, EWH, EWI, EWJ, EWM, EPP, EWS, EWP, EWD, EWL, EWT, TUR, EWU, PPA, PEJ, PHO, SSO, XLP, XLF, GLD, XLV, XHB, XLI, XLB, XRT, SPY, XLU, SMH, 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 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  11,405.26    
 Monthly S1  11,944.71  539.45   
 Weekly S2  12,024.70  79.99   
 Weekly S1  12,254.43  229.73   
 Monthly Pivot  12,338.22  83.79   
 Daily S2  12,362.77  24.55   
 Low  12,415.85  53.08   
 Daily S1  12,423.46  7.61   Yes! The Daily S1 is close to the Low.
 61.8% Down from Intraday High  12,459.31  35.85   
 50% Down from Intraday High  12,472.74  13.43   
 Daily Pivot  12,476.55  3.81   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Open  12,481.89  5.34   Yes! The Open is close to the Daily Pivot.
 Close  12,484.16  2.27   Yes! The Close is close to the Open.
 38.2% Down from Intraday High  12,486.17  2.01   Yes! The 38.2% Down from Intraday High is close to the Close.
 Weekly Pivot  12,493.08  6.91   Yes! The Weekly Pivot is close to the 38.2% Down from Intraday High.
 High  12,529.63  36.55   
 Daily R1  12,537.24  7.61   Yes! The Daily R1 is close to the High.
 Daily R2  12,590.33  53.08   
 Weekly R1  12,722.81  132.48   
 Monthly R1  12,877.67  154.86   
 Weekly R2  12,961.46  83.79   
 Monthly R2  13,271.18  309.72   

Wednesday 5/24/23. A Look At Indicators: Bearish

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 with a 30 reading. That's well above 0, the lowest it can go, so we just ventured into bearish territory as if dipping a toe to test the water's temperature.

Today's drop is a reflection of the markets growing concern about the debt ceiling talks. The longer this goes on, the more volatile the markets are likely to be. However, I'm looking at this as a buying opportunity. With the growth in interest rates, the housing market has taken off. I'd like to expand my holdings there and add to soxx, a semiconductor ETF. Both are expensive now and for all I know, they might not drop far enough to warrant a buy. I'm actually hoping to see a nice market correction here...

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, 41% 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 523 stocks in my database are down an average of 20% 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 show improvement over what we saw a week ago. That's odd because the CPI is dropping even as the red line is climbing. You can see the red line gathering strength for the last two weeks or so.

With more negotiating on the debt ceiling to come, I think the CPI is the correct chart. It's warning of a downturn.

$ $ $

Here's a symbol list of 114 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, APD, ALB, ALKS, ALL, AEE, AIG, AAPL, ANET, AGO, BAX, BBY, BIIB, BLDR, CNC, CENX, CVX, CL, CMTL, ED, CONN, COST, COTY, XRAY, DVN, BOOM, EIX, EPAM, EL, EVH, EXC, FIVN, FNV, FCX, GPS, GD, GILD, GFS, GPRO, HOLX, IEX, IIIN, ITGR, INTC, TILE, KBH, K, KBAL, LZB, LAMR, LDOS, LLY, LNC, MCHX, MRTN, MLKN, MYGN, NJR, NKE, OMI, PATK, PCTY, PETS, PG, PHM, RJF, REGN, RLI, ROL, RGLD, SBH, SCHW, SCI, STR, SKYW, SCCO, SWN, TECH, TOL, TSCO, TWLO, SLCA, VEEV, WU, WPM, IYM, IYK, QTEC, ICF, IAT, MXI, IHI, EWK, EWG, EWH, EIS, EWM, EWS, EWD, PBE, PXJ, XLP, XLB, 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

Top


Tuesday 5/23/23. Slider Trading Quiz!

The Dow dropped by -0.4% or -140.05 points. Since 10/01/1928 the Dow made 943 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 478 occasions.
     Average loss was -0.7% on 465 occasions.
Expect the Dow to close higher 50.7% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 262/476 or 55.0% 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 UIL Holdings: UIL stock.

$ $ $

Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ADBE, AMD, APD, ALKS, AYX, AMZN, AEE, ABC, AMN, APH, ASH, AGO, AZTA, BZH, BERY, BIIB, BRC, BMY, BBW, BLDR, CE, CNC, CENX, CLNE, CLF, CTSH, CL, CMTL, ED, CAG, CONN, COST, CROX, CCRN, DECK, EIX, EFX, EVH, EXPI, FDX, FLEX, GD, GE, GILD, GFS, HTLD, HD, DHI, IDA, ITGR, IPAR, KALU, KBH, K, KEYS, KLIC, LZB, LEN, LLY, MCHX, MAS, META, MGEE, MCO, MUR, NKE, OMCL, PPG, PG, PHM, QTWO, KWR, REGN, RGS, RNG, RGLD, SAND, SLB, SEIC, SMTC, STR, SKX, SMAR, LUV, SWX, SPLK, TPR, TECH, TDY, TXN, TTD, TZOO, TREX, SLCA, VLO, MDRX, VRTX, WSO, WWW, ITB, IEZ, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, IXN, ILF, SOXX, SLV, IHI, EWO, EWJ, EWM, EWY, QLD, PBE, PXJ, XLP, XHB, XRT, XLK. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Top

© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  32,173.64    
 Weekly S2  32,668.51  494.87   
 Monthly S1  32,730.11  61.60   
 Weekly S1  32,977.55  247.44   
 Daily S2  33,031.13  53.58   
 Daily S1  33,158.85  127.73   
 Low  33,207.85  49.00   
 Close  33,286.58  78.73   
 Weekly Pivot  33,315.22  28.64   Yes! The Weekly Pivot is close to the Close.
 61.8% Down from Intraday High  33,324.15  8.93   Yes! The 61.8% Down from Intraday High is close to the Weekly Pivot.
 Daily Pivot  33,335.58  11.43   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  33,360.07  24.50   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  33,396.00  35.93   
 Open  33,408.54  12.54   Yes! The Open is close to the 38.2% Down from Intraday High.
 Daily R1  33,463.30  54.77   
 Monthly Pivot  33,493.97  30.66   
 High  33,512.30  18.33   Yes! The High is close to the Monthly Pivot.
 Weekly R1  33,624.26  111.96   
 Daily R2  33,640.03  15.77   Yes! The Daily R2 is close to the Weekly R1.
 Weekly R2  33,961.93  321.91   
 Monthly R1  34,050.44  88.51   
 Monthly R2  34,814.30  763.86   

Monday 5/22/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

Highlighted in red is a broadening bottom chart pattern. This one acted as a reversal pattern, reversing the downward trend to up.

SHS is a head-and-shoulders top chart pattern. It looks weird because the right shoulder is well below the left. At A, the pattern changes from being squiggles on a price chart to an actual chart pattern. The index makes a strong downward push thereafter.

To me, I think the index has reached support and you'll see it climb over the next week. Alternatively, this might only be the midway point of a strong push lower.

$ $ $

New research: Is gold a good investment?

$ $ $

Top

A Brief Look Back

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

Monday: Up 47.98 points.
Tuesday: Down 336.46 points.
Wednesday: Up 408.63 points.
Thursday: Up 115.14 points.
Friday: Down 109.28 points.

For the Week...

The Dow industrials were up 126.01 points or 0.4%.
The Nasdaq composite was up 373.16 points or 3.0%.
The S&P 500 index was up 67.9 points or 1.6%.

Year to Date...

Dow Industrials
     2.7% down from the high of 34,342.32 on 01/13/2023.
     6.4% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     0.6% down from the high of 12,731.73 on 05/19/2023.
     23.3% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     0.5% down from the high of 4,212.91 on 05/19/2023.
     10.5% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

Top

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  33,156  33,291  33,472  33,607  33,788 
Weekly  32,715  33,071  33,362  33,718  34,009 
Monthly  32,220  32,823  33,541  34,144  34,861 
S&P500 (^GSPC): Daily  4,162  4,177  4,195  4,210  4,228 
Weekly  4,069  4,130  4,172  4,233  4,275 
Monthly  3,986  4,089  4,151  4,254  4,316 
Nasdaq (^IXIC): Daily  12,564  12,611  12,671  12,718  12,779 
Weekly  12,083  12,370  12,551  12,839  13,019 
Monthly  11,463  12,061  12,396  12,993  13,329 

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

Top

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 180 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ABM, ACIW, AJRD, ATSG, AA, ALGT, ALL, AMZN, DOX, AEL, ABC, APH, APOG, AAPL, ACGL, ANET, ASH, AIZ, AGO, AVNT, AVA, AXS, BMI, BCPC, BSET, BZH, BERY, BA, BAH, BRC, BR, BBW, BLDR, CHS, CSCO, CLNE, CLF, CNA, CL, ED, CONN, COP, CXW, COTY, CROX, DECK, DVN, DSGR, ^DJT, DOV, BOOM, EIX, EVH, EXC, EZPW, FFIV, FDX, GD, GPN, GFF, THG, HTLD, HNI, HD, DHI, HUN, IBP, IPAR, TILE, JKHY, KALU, KBH, KBAL, KSS, LHX, LZB, LANC, LDOS, LEN, LMT, LXU, MHO, MTSI, MGY, MAN, MAS, META, MLKN, NEE, NKE, OGE, ASGN, OXM, PATK, PDCO, PFE, PNW, PLXS, POR, PPG, PG, PHM, QTWO, RGLD, ^GSPC, SAND, SLB, SAIC, SEIC, SRE, NOW, SO, LUV, SWN, SXI, TPR, TECH, TXT, TMO, TKR, TDG, TZOO, TREX, VLO, VEEV, VC, WU, WLK, WMB, WWD, ITA, IAI, ITB, IDU, BOTZ, IAT, IXN, IHI, EWO, EWG, EIS, EWW, EWY, EWT, TUR, PEJ, ROBO, XHB, XRT, SPY, 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.

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

This WeekLast Week
1. Homebuilding1. Homebuilding
2. Internet2. Shoe
3. E-Commerce3. Internet
4. Cement and Aggregates4. E-Commerce
5. Shoe5. Cement and Aggregates
6. Semiconductor6. Advertising
7. Semiconductor Cap Equip.7. Retail Building Supply
8. Computer Software and Svcs8. Household Products
9. Advertising9. Chemical (Specialty)
10. Retail Building Supply10. Computer Software and Svcs
Best Performing AboveWorst Performing Below
50. Furn/Home Furnishings50. Medical Services
51. Securities Brokerage51. Furn/Home Furnishings
52. Chemical (Diversified)52. Telecom. Equipment
53. Retail Store53. Natural Gas (Distributor)
54. Telecom. Equipment54. Securities Brokerage
55. Human Resources55. Human Resources
56. Natural Gas (Distributor)56. Chemical (Diversified)
57. Natural Gas (Diversified)57. Petroleum (Integrated)
58. Petroleum (Integrated)58. Natural Gas (Diversified)
59. Petroleum (Producing)59. Petroleum (Producing)
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

Top


Friday 5/19/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 131 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AJRD, AMZN, AMGN, ARCB, AGO, AVA, BIO, BOOT, BMY, CENX, CRL, CLNE, CNX, CL, CMTL, ED, CSGP, DSGR, D, EIX, EQT, EVRG, EVH, EXPD, EZPW, FICO, FE, FIVN, FORM, FTNT, FDP, GME, GIS, GFF, HIG, HTLD, HP, HOLX, JBHT, HURC, IDA, IIIN, PODD, IPG, LEN, LXU, MHO, MTSI, MCHX, MTRX, META, MGEE, MCO, NFLX, NVDA, ORI, OTEX, OR, PANW, PDCO, PETS, POR, PPG, PPL, PG, QTWO, QCOM, RMBS, RNG, RGLD, ^GSPC, SAND, NOW, SHW, SMAR, SO, SCCO, SWN, SNPS, TPR, TECH, TXN, TZOO, TREX, VLO, VRSN, V, WMT, WLK, WPM, IDU, FTEC, FXL, BOTZ, ICF, IGV, MXI, IXN, IHI, EWH, EWM, EZA, EWT, TUR, DBA, PEJ, PHO, XLY, XLP, GLD, XLI, XLB, SPY, XLU, 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.

$ $ $

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
ADBEDouble Bottom, Adam and Adam      05/04/202305/12/2023Computer Software and Svcs
AEISDouble Bottom, Adam and Adam      04/27/202305/04/2023Semiconductor
ALRMTriangle, descending      03/16/202304/24/2023Computer Software and Svcs
ALLUgly double bottom      03/24/202304/14/2023Insurance (Prop/Casualty)
AMWDPipe bottom      04/24/202305/01/2023Building Materials
AONUgly double bottom      03/15/202304/28/2023Insurance (Diversified)
BKHBroadening top      04/18/202305/05/2023Electric Utility (West)
BRHead-and-shoulders bottom      03/01/202304/06/2023Information Services
BRKRBig M      04/14/202305/04/2023Precision Instrument
CRHHead-and-shoulders bottom      03/16/202305/02/2023Cement and Aggregates
CCRNPipe bottom      04/24/202305/01/2023Human Resources
DTEHead-and-shoulders top      04/12/202305/10/2023Electric Utility (Central)
DUKHead-and-shoulders top      04/12/202305/08/2023Electric Utility (East)
EXPHead-and-shoulders bottom      02/24/202304/10/2023Cement and Aggregates
EQTDouble Bottom, Adam and Adam      04/26/202305/04/2023Natural Gas (Diversified)
FLSUgly double bottom      03/17/202304/10/2023Machinery
FTNTPipe bottom      04/24/202305/01/2023Computer Software and Svcs
GMEPipe bottom      04/24/202305/01/2023Retail (Special Lines)
GMSTriple bottom      03/16/202304/06/2023Cement and Aggregates
IPGDouble Bottom, Adam and Adam      04/27/202305/04/2023Advertising
MTRXBig W      03/24/202304/28/2023Oilfield Svcs/Equipment
PPGDouble Bottom, Adam and Adam      05/04/202305/11/2023Chemical (Diversified)
PSTGDouble Bottom, Eve and Eve      04/26/202305/04/2023Computers and Peripherals
RMBSPipe bottom      04/24/202305/01/2023Semiconductor Cap Equip.
RRCHead-and-shoulders bottom      04/26/202305/11/2023Petroleum (Producing)
RGLDPipe top      05/01/202305/08/2023Metals and Mining (Div.)
SANDDouble Top, Eve and Eve      04/13/202305/08/2023Metals and Mining (Div.)
SSYSHead-and-shoulders bottom      04/26/202305/12/2023Electronics
TPRPipe bottom      05/01/202305/08/2023Apparel
WPMDouble Top, Adam and Eve      04/13/202305/09/2023Metals and Mining (Div.)
WSCTriangle, symmetrical      04/03/202305/18/2023Industrial Services
ZBRAUgly double bottom      05/02/202305/12/2023Computers and Peripherals
IXNPipe bottom      03/07/202203/14/2022IT Services

 

Top


Thursday 5/18/23. Cryptocurrency Ethereum

The Nasdaq climbed by 1.3% or 157.52 points. Since 02/05/1971 the Nasdaq made 165 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.0% on 103 occasions.
     Average loss was -1.3% on 62 occasions.
Expect the Nasdaq to close higher 62.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 258/454 or 56.8% of the time.
     The prediction of the Nasdaq closing lower has been right 72/148 or 48.6% 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 ethereum.

$ $ $

I show a picture of Ethereum on the daily scale.

The first thing I notice is that the cryptocurrency follows a trendline. I show that on the chart with a red line.

The measure rule for trendlines is that the height of the move above the trendline will mirror the drop below the trendline, and vice versa.

I show how successful it was with blue lines A and B. I hand drew these so they are approximate. Before you get too excited, notice that the drop at C wasn't met by a corresponding rise at A.

In other words, this doesn't work as well as we hope.

$ $ $

Here's a symbol list of 157 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, AEIS, AJRD, ALK, ALGT, AMED, AMGN, AMAT, AWI, AGO, AVA, BECN, BBY, BIO, BKH, BSX, BFH, CHS, CLNE, CNO, CL, ED, CONN, COP, GLW, CSGS, DDS, ^DJT, ECL, EIX, EOG, EFX, RE, EVRG, EXPD, EZPW, FICO, FARO, FE, FTNT, FRD, GPS, GIS, GS, GPRO, HBI, HLIT, HIG, HOLX, HON, DHI, HWM, IDA, IDXX, ITW, ILMN, PODD, INTC, IPAR, IBKR, JNJ, KALU, K, KMT, KEYS, LMT, L, LXU, MHO, MAN, MRO, MTDR, MDT, MRK, MGEE, MS, NXGN, NKE, JWN, NOC, PDCO, PPG, PFG, PG, PGR, PRU, QTWO, RL, ROP, RGLD, ^GSPC, CRM, SAND, SLB, SIGI, SCCO, SPLK, TPR, TGT, TECH, TSCO, TREX, VLO, WERN, WLK, WMB, WSM, XEL, IYC, IHE, IDU, DDM, QTEC, BOTZ, ICF, IYH, MXI, SLV, IYF, IHI, EWO, EEM, EWH, EIS, EWM, EWS, EWY, EWL, EWT, THD, PPA, PEJ, SSO, XLE, XLF, GLD, XLI, SPY, XAR, XLU, VHT. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Top

© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  11,655.45    
 Monthly S1  12,078.01  422.56   
 Weekly S2  12,155.84  77.83   
 Monthly Pivot  12,221.33  65.49   
 Daily S2  12,270.84  49.51   
 Weekly S1  12,328.20  57.37   
 Low  12,335.02  6.82   Yes! The Low is close to the Weekly S1.
 Weekly Pivot  12,346.43  11.41   Yes! The Weekly Pivot is close to the Low.
 Daily S1  12,385.70  39.28   
 Open  12,388.58  2.88   Yes! The Open is close to the Daily S1.
 61.8% Down from Intraday High  12,403.42  14.84   Yes! The 61.8% Down from Intraday High is close to the Open.
 50% Down from Intraday High  12,424.54  21.13   
 38.2% Down from Intraday High  12,445.67  21.13   
 Daily Pivot  12,449.89  4.21   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  12,500.57  50.68   
 High  12,514.07  13.50   Yes! The High is close to the Close.
 Weekly R1  12,518.79  4.72   Yes! The Weekly R1 is close to the High.
 Weekly R2  12,537.02  18.22   
 Daily R1  12,564.75  27.74   
 Daily R2  12,628.94  64.18   
 Monthly R1  12,643.89  14.95   Yes! The Monthly R1 is close to the Daily R2.
 Monthly R2  12,787.21  143.32   

Wednesday 5/17/23. 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 turned bearish two days ago, if you believe the chart, after being neutral for about two weeks. Does this mean the index will tumble?

Because the index is near the top of the chart, at overhead resistance, it suggests the index will drop.

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, 44% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 42%.
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 523 stocks in my database are down an average of 21% from their yearly high.
A week ago, the average was 20%.
The peak was 16% on 02/02/2023.
And the bottom was 34% on 09/30/2022.

Both lines show marginally lower (worse) readings from a week ago. The red line has been trending lower for a month now. Often a trend in motion continues in the same direction.

Together with the prior chart, it seems reasonable to assume the index will drop further.

$ $ $

Here's a symbol list of 124 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AMD, AJRD, AFL, AMGN, APA, AMAT, ATR, AWI, AGO, ATO, AVY, AVNT, BZH, CBT, CDNS, CPB, CI, CLNE, CLF, CL, ED, CSGS, CW, DSGR, DOV, DUK, EIX, EL, EVRG, EXPD, EZPW, FIVN, FLS, FORM, FTNT, FDP, FRD, GMS, HNI, HD, DHI, HURC, IDA, ILMN, NSP, PODD, IBKR, TILE, IRM, JKHY, KMT, LDOS, LLY, LMT, MHO, MGY, MCHX, MKTX, MTDR, MDC, MGEE, NOV, NTGR, NEE, NKE, NI, NOC, NWPX, OXY, OGE, PETS, POR, PFG, PG, PEG, QTWO, RRC, RGLD, CRM, SAND, SEIC, SIGI, SCI, SHW, SWN, SSYS, TPR, TJX, TSCO, TREX, VLO, WERN, WLK, WSM, XEL, IHE, IDU, BOTZ, ICF, IYH, IHF, IXC, ILF, SLV, IHI, EWZ, EWD, THD, PJP, XLP, GLD, XLU, USO, 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

Top


Tuesday 5/16/23. Slider Trading Quiz!

The Dow climbed by 0.1% or 47.98 points. Since 10/01/1928 the Dow made 1394 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.5% on 716 occasions.
     Average loss was -0.6% on 678 occasions.
Expect the Dow to close higher 51.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 262/475 or 55.2% 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 Walmart: WMT stock.

$ $ $

Here's a symbol list of 109 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AMD, ALB, AEO, AEP, AEL, AMWD, ABC, AMN, ARCB, ACGL, ATO, AVA, BKH, BLDR, CDNS, CPB, CNP, CTAS, CLX, CNA, CNX, CL, ED, CCRN, CSGS, DSGR, D, DUK, EXC, FICO, FORM, FTNT, GME, HTLD, HSY, HNI, IDA, PODD, IPG, JKHY, KMB, L, MTRN, MTRX, MLKN, ^IXIC, NJR, NEWR, NKE, NI, NWPX, OGE, PKE, POR, PG, PEG, RMBS, RGS, RES, SCHW, SEIC, SMAR, SO, SWN, SR, SCS, TPR, TFX, TDC, TJX, TREX, UNH, WERN, WMB, WDAY, XEL, IHE, FXI, BOTZ, ILF, IHI, EWO, ECH, EEM, EIS, EWM, EPP, EZA, EWY, EWT, DBA, 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  32,194.31    
 Weekly S2  32,748.95  554.64   
 Monthly S1  32,771.46  22.50   Yes! The Monthly S1 is close to the Weekly S2.
 Weekly S1  33,048.78  277.32   
 Daily S2  33,065.24  16.46   Yes! The Daily S2 is close to the Weekly S1.
 Low  33,161.93  96.69   
 Daily S1  33,206.92  44.99   
 61.8% Down from Intraday High  33,252.99  46.07   
 50% Down from Intraday High  33,281.11  28.13   
 Daily Pivot  33,303.61  22.50   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  33,309.24  5.63   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Open  33,321.21  11.97   Yes! The Open is close to the 38.2% Down from Intraday High.
 Close  33,348.60  27.39   
 High  33,400.30  51.70   
 Weekly Pivot  33,410.43  10.13   Yes! The Weekly Pivot is close to the High.
 Daily R1  33,445.29  34.86   
 Monthly Pivot  33,514.64  69.36   
 Daily R2  33,541.98  27.34   
 Weekly R1  33,710.26  168.28   
 Weekly R2  34,071.91  361.66   
 Monthly R1  34,091.79  19.87   Yes! The Monthly R1 is close to the Weekly R2.
 Monthly R2  34,834.97  743.19   

Monday 5/15/23. Market Monday: The Week Ahead. Bearish

My Prediction

Picture of the S and P on the daily scale.

I show the S&P 500 index on the daily scale.

There's not a lot going on in this chart so I had to search for something to write about.

AB is a Adam & Adam double top. The Adam part means the peak is slender and tall. In this case, both peaks are that shape. Performance differs from Adam patterns and Eve (wide) and the combinations of Adam and Eve.

Price drops fast to a valley in December, fulfilling the measure rule target or nearly so. That's the height of the pattern subtracted from the price of the valley between the two peaks. It's not magical. It does NOT mean that price will drop that far. But it does allow us to calculate the probability of the index reaching the target.

The pattern circled in blue may look like a head-and-shoulders bottom but it's too weird looking for me to actually log it as one.

The same can be said of the red circle. Here we may have a diamond top. Again, it's too strange for it to qualify as one.

The red area is a congestion region. My guess is we'll see a drop out of that region simply because we've hit overhead resistance setup by the February peak..

Top

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 55.69 points.
Tuesday: Down 56.88 points.
Wednesday: Down 30.48 points.
Thursday: Down 221.82 points.
Friday: Down 8.89 points.

For the Week...

The Dow industrials were down 373.76 points or 1.1%.
The Nasdaq composite was up 49.33 points or 0.4%.
The S&P 500 index was down 12.17 points or 0.3%.

Year to Date...

Dow Industrials
     3.0% down from the high of 34,342.32 on 01/13/2023.
     6.0% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     0.6% down from the high of 12,364.65 on 05/12/2023.
     19.7% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     1.7% down from the high of 4,195.44 on 02/02/2023.
     8.7% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

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

Top

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  32,977  33,139  33,273  33,434  33,568 
Weekly  32,733  33,017  33,394  33,678  34,056 
Monthly  32,178  32,739  33,499  34,060  34,819 
S&P500 (^GSPC): Daily  4,078  4,101  4,122  4,146  4,167 
Weekly  4,070  4,097  4,126  4,153  4,181 
Monthly  3,981  4,053  4,120  4,191  4,258 
Nasdaq (^IXIC): Daily  12,131  12,208  12,286  12,363  12,441 
Weekly  12,084  12,184  12,274  12,375  12,465 
Monthly  11,584  11,934  12,149  12,500  12,715 

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

Top

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACN, AMD, AFL, ATSG, AKAM, ALK, ALB, AEP, AEL, AXP, AMWD, ACGL, BALL, BECN, BZH, BMRN, BKNG, BRKR, BLDR, CALM, CNP, CNA, CNX, CL, CMTL, CROX, CCRN, DHR, XRAY, ^DJT, D, DRQ, EXPI, FORM, FTNT, FDP, GME, IT, GE, GPN, GL, GS, HTLD, HL, HSY, HNI, HURC, NSP, INTC, IPG, IPI, ISRG, JKHY, JAZZ, KELYA, LNC, LXU, MHO, MANH, MCHX, MA, MTRN, MTRX, MSFT, MLKN, MUR, NBR, ^IXIC, NJR, NEWR, NWL, NKE, NUS, NTNX, OLN, PATK, PDCO, PXD, PFG, PG, PRU, DGX, RMBS, RJF, RGS, R, SLB, SMG, SMTC, SHW, SSYS, SRDX, TDY, TJX, TOL, TRV, TREX, MDRX, VMC, WU, IAI, IYK, IYC, ITB, IHE, FXL, FXI, BOTZ, QQQ, IYH, SLV, IGE, IYF, IHI, EWA, EWK, ECH, EWH, EWJ, EWM, EWS, EWD, THD, QLD, ROBO, ILF, SSO, MXI, XLY, XLP, XHB, XLB, XRT, SPY, 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.

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

This WeekLast Week
1. Homebuilding1. Homebuilding
2. Shoe2. Shoe
3. Internet3. Internet
4. E-Commerce4. Semiconductor Cap Equip.
5. Cement and Aggregates5. Toiletries/Cosmetics
6. Advertising6. Chemical (Specialty)
7. Retail Building Supply7. Cement and Aggregates
8. Household Products8. Retail Building Supply
9. Chemical (Specialty)9. Metals and Mining (Div.)
10. Computer Software and Svcs10. Computer Software and Svcs
Best Performing AboveWorst Performing Below
50. Medical Services50. Telecom. Equipment
51. Furn/Home Furnishings51. Securities Brokerage
52. Telecom. Equipment52. Insurance (Life)
53. Natural Gas (Distributor)53. Medical Services
54. Securities Brokerage54. Natural Gas (Distributor)
55. Human Resources55. Human Resources
56. Chemical (Diversified)56. Natural Gas (Diversified)
57. Petroleum (Integrated)57. Short ETFs
58. Natural Gas (Diversified)58. Petroleum (Integrated)
59. Petroleum (Producing)59. Petroleum (Producing)
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

Top


Friday 5/12/23. Pattern Trading Setups for the Weekend.

$ $ $

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: ABM, AYI, AMD, AJRD, ALRM, ALK, ALB, DOX, AEE, AEL, AMWD, ABC, APOG, ANET, BERY, BSX, CPB, CNP, CRL, CINF, CTAS, CSCO, CNA, CNX, CL, CMTL, ED, CRH, CCRN, CSGS, CTS, DHR, FANG, ^DJT, D, DOV, DRQ, EMN, EIX, EMR, EOG, EZPW, FIS, FLEX, FLS, FORM, FTNT, FCX, GME, GOOGL, GPRO, HIG, HAYN, HTLD, HL, HNI, HOLX, HOV, NSP, IBKR, IPG, NVTA, JKHY, JNJ, KBH, KEYS, LXU, MHO, MCHX, MTRN, MTRX, MOS, MLI, NBR, ^IXIC, NTAP, NEWR, NXGN, NKE, OLN, OUT, PKI, PFE, PFG, PG, PEG, DGX, RMBS, RGS, RGA, ROK, R, SLB, SMG, SHOP, SCCO, SRDX, TPR, TECH, TEVA, TSCO, TZOO, TG, TREX, UIS, VRSN, VC, WU, WMB, WSM, ITA, IEZ, FXL, BOTZ, SLV, IGE, IHI, EWO, EWG, EIS, EWI, EWM, EPP, EZA, EWY, EWT, EWU, IXC, MXI, XLB, 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.

$ $ $

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
AMDPipe bottom      04/24/202305/01/2023Semiconductor
ATSGDead-cat bounce      05/05/202305/05/2023Air Transport
ALBDouble Bottom, Adam and Eve      04/21/202305/02/2023Chemical (Diversified)
CMCOTriangle, symmetrical      03/24/202305/11/2023Machinery
CAGTriple top      04/05/202305/03/2023Food Processing
FORMPipe bottom      04/24/202305/01/2023Semiconductor
GMSPipe bottom      04/03/202304/10/2023Cement and Aggregates
GGGFlag      05/02/202305/11/2023Machinery
HSCTriangle, ascending      04/04/202304/25/2023Diversified Co.
HNIPipe bottom      04/24/202305/01/2023Furn/Home Furnishings
HUMPipe bottom      04/17/202304/24/2023Medical Services
NVTAPipe bottom      03/20/202303/27/2023Medical Services
LOWTriangle, symmetrical      04/21/202305/11/2023Retail Building Supply
MTRNHorn top      04/17/202305/01/2023Metals and Mining (Div.)
^IXICRoof, inverted      04/03/202305/05/2023None
NEWRPipe bottom      04/24/202305/01/2023E-Commerce
OXMDouble Bottom, Adam and Adam      04/27/202305/04/2023Apparel
PKEThree Falling Peaks      04/03/202305/03/2023Chemical (Specialty)
ROKDouble Top, Adam and Adam      04/28/202305/08/2023Diversified Co.
ROLPennant      04/28/202305/09/2023Industrial Services
TDYPennant      04/26/202305/11/2023Aerospace/Defense
XLKRoof, inverted      03/31/202305/08/2023IT Services

 

Top


Thursday 5/11/23. Slider Trading Quiz

The Nasdaq climbed by 1.0% or 126.89 points. Since 02/05/1971 the Nasdaq made 256 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 163 occasions.
     Average loss was -1.1% on 93 occasions.
Expect the Nasdaq to close higher 63.7% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 257/453 or 56.7% of the time.
     The prediction of the Nasdaq closing lower has been right 72/148 or 48.6% 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.

$ $ $

Bigcharts.com apparently is down, so I'm showing a quiz instead of the intraday chart.

$ $ $

I show another slider trading quiz featuring Waters Corp: WAT stock.

$ $ $

Here's a symbol list of 183 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AYI, AMD, ALK, ALB, ALGT, AMZN, AEL, AXP, AFG, AMWD, ADM, AGO, BERY, BIO, BMRN, BA, BOOT, BCO, BR, BRKR, CE, CNP, CENX, CVX, CINF, CTAS, CLNE, CLF, CNA, CNX, CL, CMTL, CAG, CONN, CXW, CCRN, CMI, DECK, FANG, DDS, DFS, ^DJT, D, DOV, DTE, EMN, ELV, EMR, EOG, XOM, EZPW, FIS, FISV, FLS, FORM, FTNT, FCX, GME, GE, GL, GOOGL, GES, HIG, HTLD, HL, HP, HNI, HOLX, HUM, HUN, IDA, IBKR, TILE, IPG, JKHY, KALU, LLY, RAMP, LPLA, LXU, M, MCHX, MKTX, MTRN, MTRX, MLKN, MS, MUR, NBR, ^IXIC, NFG, NTAP, NEWR, NEE, NXGN, NKE, NI, OLN, OMCL, PTEN, PYPL, PXD, PFG, PG, RL, RMBS, RRC, REGN, RGS, ROK, ROG, ROST, R, SBH, SMG, SHOP, SMAR, SCCO, LUV, SWN, SPSC, SRDX, SNPS, TPR, TECH, TPX, TKR, TJX, TG, TREX, UPS, UNH, VFC, VEEV, WMT, WU, WLK, WEX, WMB, WSM, ITA, IYE, IEZ, QTEC, BOTZ, IAT, IGV, SLV, IGE, IHI, EWO, EWK, EIS, EWW, EZA, PBE, PEJ, PJP, ILF, SSO, MXI, XLP, XLE, XLF, XLB. 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  11,657.29    
 Weekly S2  11,826.09  168.80   
 Monthly S1  11,981.86  155.78   
 Weekly S1  12,066.26  84.40   
 Daily S2  12,118.17  51.90   
 Monthly Pivot  12,123.35  5.18   Yes! The Monthly Pivot is close to the Daily S2.
 Weekly Pivot  12,165.55  42.20   
 Low  12,180.86  15.31   Yes! The Low is close to the Weekly Pivot.
 Daily S1  12,212.30  31.44   
 61.8% Down from Intraday High  12,240.77  28.47   
 50% Down from Intraday High  12,259.28  18.51   
 Daily Pivot  12,275.00  15.72   
 38.2% Down from Intraday High  12,277.78  2.78   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Open  12,286.70  8.92   Yes! The Open is close to the 38.2% Down from Intraday High.
 Close  12,306.44  19.74   
 High  12,337.69  31.25   
 Daily R1  12,369.13  31.44   
 Weekly R1  12,405.72  36.59   
 Daily R2  12,431.83  26.10   
 Monthly R1  12,447.92  16.10   
 Weekly R2  12,505.01  57.08   
 Monthly R2  12,589.41  84.40   

Wednesday 5/10/23. 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 indicator has turned from bearish to neutral. That's an improvement, but is it enough?

No. Why not?

Because the debt ceiling fight will roil the markets in the weeks to come. So I don't put much importance on the improvement

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, 43% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 43%.
The fewest was 32% on 02/02/2023.
And the most was 81% on 06/17/2022.
Shown as a blue line on the above chart...
The 519 stocks in my database are down an average of 20% from their yearly high.
A week ago, the average was 20%.
The peak was 16% on 02/02/2023.
And the bottom was 34% on 09/30/2022.

The red and blue lines show no improvement this week compared to a week ago. It's as if the indicators are waiting for a new development.

The two charts show a waiting pattern. Call it neutral with a hint of bullishness (from the CPI chart).

Again, my worry is that the debt ceiling will crater the markets.

$ $ $

Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AMD, A, ALB, AA, AEO, AEP, AEL, AMWD, ABC, AMN, APH, ANIK, ANET, ASH, AVNT, AVA, BIG, BIO, BMRN, BRKR, BG, CBT, CALM, CPB, CE, CX, CNP, CENX, CRL, CIEN, CSCO, CLNE, CNA, CNX, CTSH, CL, CMCO, CMTL, CONN, COTY, CCRN, CCK, CMI, DECK, DRQ, ELV, EME, EMR, EQT, EVH, FMC, FORM, FTNT, GME, GPN, GFS, GOOGL, GPRO, HBI, HE, HQY, HTLD, HSIC, HNI, HUM, HUN, IIIN, TILE, IPG, JKHY, KALU, KFRC, KBAL, LXU, MHO, MTSI, MCHX, MLM, MTRN, MTRX, MOS, MLI, NEWR, OTEX, OMI, OXM, PANW, PKE, PYPL, PETS, PG, RMBS, RRC, RGS, RLI, RHI, ROG, CRM, SLB, SMG, SIGI, SCI, SKYW, SCCO, SRDX, TECH, TMO, RIG, TREX, SLCA, UNH, WAT, WERN, WLK, WMB, WSM, WSC, IAT, IYZ, IHI, EWZ, EWJ, EWM, EZA, EWL, THD, PJP, ILF, SSO, XLP, 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

Top


Tuesday 5/9/23. Slider Trading Quiz!

The Dow dropped by -0.2% or -55.69 points. Since 10/01/1928 the Dow made 1241 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 621 occasions.
     Average loss was -0.7% on 620 occasions.
Expect the Dow to close higher 50.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 262/474 or 55.3% 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 TXU: TXU stock.

$ $ $

Here's a symbol list of 140 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABM, ADTN, AES, ATSG, ALGT, AEL, APH, ASH, ADP, BSET, BAX, BIG, BIO, BA, BKNG, BOOT, BRC, BRKR, BBW, BLDR, BG, CBT, CACI, CALM, CAL, CNP, CTSH, CL, CMCO, COTY, CCK, CMI, DOV, BOOM, EME, EMR, EPAM, FARO, FMC, FTNT, FRD, GPS, GE, GILD, HSC, HSII, HON, HUM, HURC, ITW, ILMN, IBP, IBKR, TILE, IPG, NVTA, K, KELYA, KBAL, LDOS, LLY, LMT, MANH, MCHX, MRCY, MGEE, MOS, MUR, ^IXIC, NOV, NXGN, NOC, NWPX, OXY, OMC, OTEX, OMI, PANW, PCTY, PKI, PETS, POR, PG, RL, RTX, RGS, RLI, RHI, ROK, ROG, CRM, SCHW, SAIC, SIGI, SRE, SKYW, SCCO, SRDX, TPR, TRGP, TEVA, TXT, TKR, RIG, TWLO, UIS, UPS, VMI, VMC, WERN, WLK, WMB, WSM, ITA, FXI, IAT, IHI, EWO, EWC, ECH, EWM, EWS, EWL, THD, IBB, PXJ, 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  32,284.34    
 Weekly S2  32,284.34  0.00   Yes! The Weekly S2 is close to the Monthly S2.
 Weekly S1  32,951.52  667.17   
 Monthly S1  32,951.52  0.00   Yes! The Monthly S1 is close to the Weekly S1.
 Daily S2  33,386.88  435.36   
 Daily S1  33,502.79  115.91   
 Low  33,509.23  6.45   Yes! The Low is close to the Daily S1.
 61.8% Down from Intraday High  33,600.25  91.02   
 Weekly Pivot  33,604.67  4.43   Yes! The Weekly Pivot is close to the 61.8% Down from Intraday High.
 Monthly Pivot  33,604.67  0.00   Yes! The Monthly Pivot is close to the Weekly Pivot.
 Close  33,618.69  14.02   Yes! The Close is close to the Monthly Pivot.
 Daily Pivot  33,625.14  6.45   Yes! The Daily Pivot is close to the Close.
 50% Down from Intraday High  33,628.36  3.22   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  33,656.48  28.12   
 Open  33,715.15  58.67   
 Daily R1  33,741.04  25.89   
 High  33,747.49  6.45   Yes! The High is close to the Daily R1.
 Daily R2  33,863.40  115.91   
 Weekly R1  34,271.85  408.45   
 Monthly R1  34,271.85  0.00   Yes! The Monthly R1 is close to the Weekly R1.
 Monthly R2  34,925.00  653.16   
 Weekly R2  34,925.00  0.00   Yes! The Weekly R2 is close to the Monthly R2.

Monday 5/8/23. Market Monday: The Week Ahead

My Prediction

Picture of the Nasdaq on the daily scale.

At point A, we see the index launch upward in a powerful move higher. Then it consolidates and forms a broadening top chart pattern.

After the broadening top ends, notice that price returns to the launch price at B. I see this behavior (where A and B are about equal, often with B slightly above A) most often with diamond tops.

More recently, we see what I call an inverted roof. It looks like a head-and-shoulders bottom except that price enters the pattern from the bottom and not the top. Often with the IRoof, you'll see uneven shoulders (minor lows) so that it doesn't resemble a head-and-shoulders at all. That's the best case. This roof looks like a H&S variation, and not really a new type of chart pattern.

Top

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 46.46 points.
Tuesday: Down 367.17 points.
Wednesday: Down 270.29 points.
Thursday: Down 286.5 points.
Friday: Up 546.64 points.

For the Week...

The Dow industrials were down 423.78 points or 1.2%.
The Nasdaq composite was up 8.83 points or 0.1%.
The S&P 500 index was down 33.22 points or 0.8%.

Year to Date...

Dow Industrials
     1.9% down from the high of 34,342.32 on 01/13/2023.
     7.1% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     0.3% down from the high of 12,269.55 on 02/02/2023.
     19.2% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     1.4% down from the high of 4,195.44 on 02/02/2023.
     9.0% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

Top

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  33,057  33,366  33,557  33,866  34,057 
Weekly  32,303  32,989  33,623  34,309  34,944 
Monthly  32,303  32,989  33,623  34,309  34,944 
S&P500 (^GSPC): Daily  4,060  4,098  4,123  4,161  4,185 
Weekly  3,985  4,061  4,124  4,199  4,262 
Monthly  3,985  4,061  4,124  4,199  4,262 
Nasdaq (^IXIC): Daily  11,990  12,112  12,189  12,312  12,388 
Weekly  11,802  12,019  12,142  12,358  12,481 
Monthly  11,634  11,935  12,100  12,401  12,566 

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

Top

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 149 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, AEIS, AMD, ATSG, ALL, APOG, ATR, ANET, AXS, AZTA, BSET, BAX, BRKR, CALM, CPB, CLS, CX, CNP, CHKP, CTAS, CLF, CNX, CL, COTY, CRH, DDS, DFS, DSGR, ^DJI, DOV, DTE, EME, EPAM, FIS, FISV, FORM, FTV, FCX, GME, GILD, GMS, GS, GES, HSC, HAYN, HSII, HSY, HNI, HUM, HUN, IEX, INFN, IIIN, PODD, TILE, IPI, NVTA, KLAC, LH, LRCX, LNC, MAN, MA, MTRX, MDT, MGEE, MS, MLI, ^IXIC, NOV, NCR, NXGN, NKE, JWN, OGE, OTEX, OUT, OMI, OXM, PDCO, PTEN, PCTY, PKI, PLXS, POR, PG, QTWO, RL, RMBS, RNG, RLI, SAIC, SIGI, SO, SWX, SPLK, SXI, SRDX, TPR, TRGP, TGT, TDC, TRV, TG, UHAL, UNM, VFC, VLO, VECO, VC, WMT, WU, WEX, WSC, WOLF, IYC, IDU, QTEC, BOTZ, IHI, EWK, EWC, EWG, EWJ, EWM, EWP, TUR, PEJ, PXJ, PHO, ROBO, XRT, XAR, XLU, SMH, 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 below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Homebuilding1. Homebuilding
2. Shoe2. Shoe
3. Internet3. Internet
4. Semiconductor Cap Equip.4. Toiletries/Cosmetics
5. Toiletries/Cosmetics5. Semiconductor
6. Chemical (Specialty)6. Semiconductor Cap Equip.
7. Cement and Aggregates7. Air Transport
8. Retail Building Supply8. Medical Supplies
9. Metals and Mining (Div.)9. Retail Building Supply
10. Computer Software and Svcs10. Advertising
Best Performing AboveWorst Performing Below
50. Telecom. Equipment50. Chemical (Diversified)
51. Securities Brokerage51. Telecom. Equipment
52. Insurance (Life)52. Natural Gas (Distributor)
53. Medical Services53. Medical Services
54. Natural Gas (Distributor)54. Petroleum (Integrated)
55. Human Resources55. Human Resources
56. Natural Gas (Diversified)56. Natural Gas (Diversified)
57. Short ETFs57. Insurance (Life)
58. Petroleum (Integrated)58. Short ETFs
59. Petroleum (Producing)59. Petroleum (Producing)
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

Top


Friday 5/5/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 193 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, ADBE, AFL, APD, ATSG, AEO, AXP, ANIK, APA, APOG, ASH, ATO, ADSK, AVNT, AXS, AZTA, BALL, BAX, BERY, BA, BKNG, BSX, BFH, BCO, CNP, CHS, CI, CNO, CTSH, CL, CMCO, CMTL, CAG, GLW, CR, CRH, CCK, DDS, DFS, DSGR, ^DJT, ^DJI, EPAM, EQT, EVH, FARO, FORM, FTNT, FWRD, FCX, FRD, GNW, GILD, GS, GES, HSC, HQY, HSII, HNI, HOLX, HUM, IEX, IDXX, INCY, INFN, ITGR, IPG, IPI, NVTA, JKHY, JNJ, KELYA, KMB, KSS, LH, LEG, LNC, LPLA, MTSI, MGY, MAN, MCHX, MRTN, MLM, MTDR, MDC, MLKN, MS, MOS, NEWR, NXGN, NKE, NWPX, OGE, ASGN, OTEX, OUT, OMI, PKE, PATK, PDCO, PXD, PLXS, PPG, PFG, PG, PRU, QTWO, QCOM, DGX, RJF, RTX, RGS, RGA, RLI, RCKY, ROP, ^GSPC, SBH, SCHW, SAIC, SMG, SEIC, SIGI, SRE, SMTC, SWN, SUM, TPR, TRGP, TDY, TXT, TMO, TKR, TZOO, UPS, UNM, VMC, WSM, WOLF, WWW, XEL, ITA, IAI, IYC, IEZ, IDU, DDM, IHF, IAT, IYZ, IGE, IYF, IHI, EWQ, EWI, EWJ, PPA, DBA, PBE, PEJ, PXJ, PJP, IXC, SSO, MXI, XLF, XLB, SPY, XAR, 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.

$ $ $

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
MMMTriple top      04/18/202305/01/2023Diversified Co.
ALLHead-and-shoulders top      04/12/202305/01/2023Insurance (Prop/Casualty)
AYXDead-cat bounce      04/28/202304/28/2023Computer Software and Svcs
AFGHead-and-shoulders top      04/04/202305/01/2023Insurance (Prop/Casualty)
AIGDouble Top, Adam and Adam      04/19/202305/01/2023Insurance (Prop/Casualty)
AMEDouble Bottom, Adam and Adam      04/10/202304/26/2023Industrial Services
APOGDouble Top, Adam and Eve      04/03/202304/19/2023Building Materials
BCODouble Top, Adam and Eve      04/03/202304/14/2023Industrial Services
BMYDouble Top, Eve and Eve      04/06/202304/25/2023Drug
BRDouble Bottom, Adam and Adam      04/06/202304/26/2023Information Services
CACIUgly double bottom      03/17/202304/26/2023IT Services
CCKTriple bottom      03/17/202304/17/2023Packaging and Container
^DJUDouble Top, Eve and Eve      04/12/202304/25/2023None
^DJIDouble Top, Eve and Adam      04/14/202305/01/2023None
ELDead-cat bounce      05/03/202305/03/2023Toiletries/Cosmetics
EVHDouble Top, Adam and Eve      04/24/202305/01/2023Healthcare Information
EXPIDouble Top, Eve and Eve      03/31/202304/14/2023E-Commerce
FARODead-cat bounce      05/04/202305/04/2023Precision Instrument
FISDouble Top, Adam and Adam      04/18/202304/27/2023Computer Software and Svcs
FLSDouble Bottom, Adam and Adam      04/10/202304/26/2023Machinery
GILDPipe top      04/17/202304/24/2023Biotechnology
GGGDouble Bottom, Eve and Adam      04/10/202304/26/2023Machinery
HBIRectangle bottom      03/13/202305/03/2023Apparel
HAYNDouble Top, Adam and Adam      04/04/202304/19/2023Building Materials
IBPDouble Top, Adam and Eve      04/20/202305/01/2023Retail Building Supply
LTriple bottom      04/05/202304/26/2023Insurance (Prop/Casualty)
MASDouble Bottom, Eve and Adam      03/24/202304/06/2023Building Materials
MTRNBroadening top      03/31/202305/04/2023Metals and Mining (Div.)
MRCYDead-cat bounce      05/03/202305/03/2023Computers and Peripherals
MUTriangle, ascending      03/29/202305/04/2023Semiconductor
MURDouble Top, Adam and Adam      04/03/202304/11/2023Petroleum (Integrated)
OMCLDouble Bottom, Adam and Adam      04/19/202304/27/2023Healthcare Information
RTXHead-and-shoulders top      04/04/202305/01/2023Aerospace/Defense
RCKYDead-cat bounce      05/03/202305/03/2023Shoe
SCIDouble Top, Eve and Adam      04/12/202305/01/2023Industrial Services
SUMHead-and-shoulders bottom      03/16/202304/26/2023Cement and Aggregates
TPRDouble Top, Eve and Adam      04/03/202304/20/2023Apparel
TRGPHead-and-shoulders top      04/03/202304/24/2023Natural Gas (Diversified)
VFCDouble Top, Adam and Adam      04/14/202304/28/2023Apparel
VHead-and-shoulders top      04/14/202305/01/2023Financial Services

 

Top


Thursday 5/4/23. Cryptocurrency Bitcoin Review

The Nasdaq dropped by -0.5% or -55.18 points. Since 02/05/1971 the Nasdaq made 368 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.0% on 180 occasions.
     Average loss was -1.0% on 188 occasions.
Expect the Nasdaq to close lower 51.1% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 257/453 or 56.7% of the time.
     The prediction of the Nasdaq closing lower has been right 71/147 or 48.3% 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 bitcoin (BTC-USD) on the daily scale.

At point A is a chart pattern called a broadening top. The breakout is upward 60% of the time and that's what we see here. A breakout occurs when price closes either above the top or below the bottom of the chart pattern.

After the breakout, the currency has struggled to move higher. To me, that suggests the coin could drop, but that's just a guess. Sometimes, it means it's gathering strength before a strong push higher. I'd be cautious, though. This could develop into a trap (bearish top trap).

$ $ $

Here's a symbol list of 200 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ATSG, AKAM, AA, ALL, AXP, AFG, ABC, AME, AR, AAPL, AMAT, ADM, ANET, ASH, AIZ, AVY, AXS, AZTA, BMI, BAX, BZH, BERY, BA, BKNG, BSX, BCO, BR, BBW, BLDR, CDNS, CE, CNP, CVX, CHS, CIEN, CTAS, CSCO, CLF, CNO, CL, CMTL, CAG, GLW, CRH, DVN, FANG, DDS, ^DJI, EXP, EMN, EIX, EMR, EQT, EL, XOM, FDS, FMC, FCX, FDP, FRD, GD, GNW, GILD, GS, GES, THG, HAYN, HQY, HUM, ITW, INCY, INFN, PODD, INTU, NVTA, IRM, JNJ, KMB, KSS, LAMR, LLY, LOW, LPLA, MHO, MCHX, MTDR, MRCY, MLKN, MCO, MS, MOS, MUR, NXGN, JWN, OXY, OMC, OMI, OXM, PKE, PTEN, PPG, PG, PRU, PHM, QTWO, KWR, RJF, RTX, RLI, RCKY, ROP, ^GSPC, CRM, SAIC, SMG, SEE, SEIC, SCI, STR, SKX, SMAR, SWN, SSYS, TXT, TKR, TSCO, TRV, TZOO, UGI, UIS, UNM, VEEV, VRSN, VC, WAT, WU, WOLF, XEL, ITA, IYM, IAI, IYE, ITB, DDM, FXI, IYZ, IGV, SOXX, IGE, IEO, IYF, IHI, EWA, EWO, EWC, EEM, EWH, EWI, EPP, EWS, EWL, TUR, PXJ, ROBO, IXC, SSO, MXI, XLE, XLF, XHB, SPY, XLK, UNG, USO. Click this link for details (pattern type, start and end dates).

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

$ $ $

The 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  11,358.20    
 Weekly S2  11,588.32  230.13   
 Monthly S1  11,691.76  103.44   
 Weekly S1  11,806.83  115.06   
 Daily S2  11,896.69  89.86   
 Daily S1  11,961.01  64.32   
 Monthly Pivot  11,968.60  7.59   Yes! The Monthly Pivot is close to the Daily S1.
 Weekly Pivot  12,017.27  48.68   
 Low  12,022.46  5.19   Yes! The Low is close to the Weekly Pivot.
 Close  12,025.33  2.87   Yes! The Close is close to the Low.
 Daily Pivot  12,086.78  61.45   
 61.8% Down from Intraday High  12,095.07  8.29   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 Open  12,097.04  1.97   Yes! The Open is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  12,117.50  20.46   
 38.2% Down from Intraday High  12,139.94  22.43   
 Daily R1  12,151.10  11.16   Yes! The Daily R1 is close to the 38.2% Down from Intraday High.
 High  12,212.55  61.45   
 Weekly R1  12,235.78  23.23   
 Daily R2  12,276.87  41.09   
 Monthly R1  12,302.16  25.29   
 Weekly R2  12,446.22  144.06   
 Monthly R2  12,579.00  132.77   

Wednesday 5/3/23. A Look At Indicators

Picture of the chart pattern indicator

$ $ $

A quick note: Within the next month, until the politicians see fit to raise the US debt limit, expect large swings in the market. If they don't agree, the market is going to crash.

You might want to view this as an opportunity to buy the dip on large down moves. If they don't agree on a limit, then I don't know how far we'll drop, but it's going to be breathtaking. In 1987, we dropped 22% in one session, 31% in three sessions. So maybe a third, 33% this time.

$ $ $

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.

Notice that the indicator has turned bearish and that's not good news. Of course, large swings in the market push the CPI around. The indicator can change for up to a week, but as the above note indicates, this month is going to be bumpy.

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, 43% 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 32% on 02/02/2023.
And the most was 81% on 06/17/2022.
Shown as a blue line on the above chart...
The 519 stocks in my database are down an average of 20% 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 lines show marginal improvement over a week ago, but I think that's a fluke. The thin red line shows a lower peak even as price makes a new high. The thicker red lines show the bearish divergence between the indicator and the index.

So even though the numbers above are positive, this development is bearish.

Both charts are either bearish or hinting of being bearish. So expect the market to drop or continue lower.

$ $ $

Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ATSG, ALB, AEO, AEP, AME, AR, AAPL, ADM, ATO, ADSK, BAX, BKH, BCO, BR, CDNS, CNP, CVX, CLNE, CTSH, CL, COST, CRH, DVN, DFS, D, DTE, EIX, ELV, FLS, FORM, FDP, FRD, GPS, GNW, GILD, HBI, THG, HAYN, HQY, HSIC, HOV, HUM, HURC, IBKR, INTU, NVTA, JNJ, KSS, LZB, LEN, LOW, MTSI, MRO, MCHX, MKTX, MTDR, META, MLKN, MS, MUR, NCR, NFLX, NTAP, NXGN, NI, JWN, NWPX, OXY, OGE, PTEN, PRFT, PNW, PG, PEG, QTWO, RL, RJF, REGN, RNG, RLI, RCKY, CRM, SEE, STR, SO, SWN, SSYS, SNPS, TPR, TECH, TSCO, RIG, UHAL, UGI, VFC, VEEV, VC, WSM, WWD, WDAY, XEL, ITA, IYE, IEZ, IDU, IYZ, IGV, SOXX, IGE, IEO, IHI, EIS, EWI, EWJ, EWP, TUR, PXJ, IXC, ILF, MXI, XLE, XLF, XRT, 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

Top


Tuesday 5/2/23. Slider Trading Quiz! Watsco: WSO

The Dow dropped by -0.1% or -46.46 points. Since 10/01/1928 the Dow made 1376 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 719 occasions.
     Average loss was -0.7% on 657 occasions.
Expect the Dow to close higher 52.3% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 262/473 or 55.4% 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 Watsco: WSO stock.

$ $ $

Here's a symbol list of 96 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AEIS, ALB, ALKS, ALL, AYX, AMED, AEL, AXP, AFG, AAPL, ADSK, AZTA, BAX, BECN, BOOT, BCO, BBW, CLS, CNP, CF, CHKP, CL, CMTL, COST, CROX, BOOM, ELV, EZPW, FE, FIVN, FCX, GPS, GGG, GFF, HLIT, HAYN, HSIC, HSY, HURC, INCY, PODD, IBKR, IPG, IPI, KFRC, LANC, LDOS, L, LXU, MHO, MDC, META, MS, MOS, NTAP, NXGN, NOVT, NVDA, OXM, PPL, PG, RL, RGS, RCKY, ROP, SBH, SO, TDC, UGI, VFC, VMI, VEEV, VC, WWW, FTEC, FXL, IYZ, IHI, EWA, EWO, EWZ, EIS, TUR, GLD, XRT, XLK, 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.

$ $ $

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  31,021.10    
 Monthly S1  32,536.40  1,515.30   
 Weekly S2  32,928.66  392.26   
 Monthly Pivot  33,320.48  391.82   
 Weekly S1  33,490.18  169.70   
 Weekly Pivot  33,797.37  307.19   
 Daily S2  33,885.54  88.16   
 Daily S1  33,968.62  83.08   
 Low  34,030.14  61.52   
 Close  34,051.70  21.56   Yes! The Close is close to the Low.
 Daily Pivot  34,113.22  61.52   
 Open  34,116.81  3.59   Yes! The Open is close to the Daily Pivot.
 61.8% Down from Intraday High  34,117.12  0.31   Yes! The 61.8% Down from Intraday High is close to the Open.
 50% Down from Intraday High  34,143.98  26.87   
 38.2% Down from Intraday High  34,170.85  26.87   
 Daily R1  34,196.30  25.45   
 High  34,257.83  61.52   
 Daily R2  34,340.91  83.09   
 Weekly R1  34,358.89  17.98   Yes! The Weekly R1 is close to the Daily R2.
 Weekly R2  34,666.08  307.19   
 Monthly R1  34,835.78  169.70   
 Monthly R2  35,619.86  784.08   

Monday 5/1/23. 2023 Forecast Update

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

$ $ $

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 4/28/2023 were... (The numbering is how they ranked a month ago.)

2. Communication services (24%)
1. Information technology (21%)
3. Consumer discretionary (15%)
6. Consumer staples (3%)
4. Materials (2%)
5. Industrials (1%)
7. Real estate (1%)
10. Utilities (-2%)
9. Health care (-3%)
8. Energy (-4%)
11. Financials (-4%)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 4/21/23.

1. Information technology (IT)
2. Health care
3. Financials
4. Consumer discretionary
5. Industrials
6. Communication services
7. Consumer staples
8. Energy
9. Utilities
10. Materials
11. Real estate

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 4/27/23. The numbering is how they ranked a month ago.

1. Construction and engineering (+44%)
4. Household durables (+18%)
2. Oil, gas and consumable fuels (+16%)
5. Trading companies and distributors (+16%)
New. Hotels, restaurants and leisure (+14%)
New. Software (+11%)
New. Independent power and renewable elec producers (+10%)
New. Semiconductors and semi equipment (+10)
8. Commercial services and supplies (+10%)
New. Industrial conglomerates (+10%)

Here's a symbol list of 108 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AJRD, ALL, AYX, AMED, AEL, AMWD, ANIK, AAPL, ARW, ASH, AVY, BAX, BZH, BMY, BBW, BLDR, CBT, CPB, CLS, CNP, CF, CLNE, CL, CXW, GLW, COTY, XRAY, FANG, DSGR, DRQ, ELV, FARO, FDX, FE, FCX, GFF, HLIT, HOLX, HWM, HUBG, HUN, INTC, TILE, KFRC, LPLA, MAS, MA, MTRX, MDC, MU, MYGN, ^IXIC, NTGR, NTAP, NWL, NEE, NXGN, OMI, OXM, PKG, PEN, PG, PGR, PHM, DGX, REGN, RGS, RCKY, ROG, ROP, SMAR, TDY, TOL, TSCO, TZOO, SLCA, UNH, VRSN, WRB, WU, WMB, WWW, IYK, ITB, IEZ, IYH, IGE, IHI, EWZ, EWW, EWS, EWT, TUR. 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. Shoe2. Shoe
3. Internet3. Semiconductor Cap Equip.
4. Toiletries/Cosmetics4. Internet
5. Semiconductor5. Toiletries/Cosmetics
6. Semiconductor Cap Equip.6. Semiconductor
7. Air Transport7. Retail Building Supply
8. Medical Supplies8. Air Transport
9. Retail Building Supply9. Medical Supplies
10. Advertising10. Trucking/Transp. Leasing
Best Performing AboveWorst Performing Below
50. Chemical (Diversified)50. Telecom. Equipment
51. Telecom. Equipment51. Chemical (Diversified)
52. Natural Gas (Distributor)52. Natural Gas (Distributor)
53. Medical Services53. Oilfield Svcs/Equipment
54. Petroleum (Integrated)54. Petroleum (Integrated)
55. Human Resources55. Medical Services
56. Natural Gas (Diversified)56. Human Resources
57. Insurance (Life)57. Insurance (Life)
58. Short ETFs58. Natural Gas (Diversified)
59. Petroleum (Producing)59. Petroleum (Producing)
60. Oilfield Svcs/Equipment60. Short ETFs

-- Thomas Bulkowski

Top

 

Support this site! Clicking any of the books (below) takes you to Amazon.com If you buy ANYTHING while there, they pay for the referral.
Legal notice for paid links: "As an Amazon Associate I earn from qualifying purchases."

My novels:  Remember Me book Bumper's Story book Head's Law book
My stock market books:  Chart Patterns: After the Buy Getting Started in Chart Patterns 2nd edition book Trading Basics book Fundamental Analysis and Position Trading book Swing and Day Trading book Encyclopedia of Chart Patterns 3rd Edition book

Copyright © 2005-2024 by Thomas N. Bulkowski. All rights reserved.
Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.
Some pattern names are registered trademarks of their respective owners.
Home Advertise Contact Donate Privacy/Disclaimer