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

November 2023 Headlines

Archives


Thursday 11/30/23. Bitcoin (BTC-USD). Rising Wedge

The Nasdaq dropped by -0.2% or -23.27 points. Since 02/05/1971 the Nasdaq made 548 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 287 occasions.
     Average loss was -0.8% on 261 occasions.
Expect the Nasdaq to close higher 52.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 266/474 or 56.1% of the time.
     The prediction of the Nasdaq closing lower has been right 74/155 or 47.7% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

I show a picture of bitcoin (BTC-USD) on the daily chart.

A cup with handle appears as a rounded turn in red on the chart. Yes, it's not a smooth turn and the handle is wimpy. But the move after completion shows a good rise.

Now we have a bearish chart pattern (where the cup was bullish). It's called a rising wedge. I show that at A. Rising wedges breakout downward 60% of the time, so that's the way to bet.

$ $ $

Here's a symbol list of 198 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACIW, AMD, AKAM, ALRM, ALGT, AYX, AMZN, AEE, AEO, AXP, APH, ANIK, AR, AAPL, ACGL, AVNT, AXS, BCPC, BALL, BSET, BKNG, BAH, CDNS, CAL, CE, CLS, CNC, CNP, CVX, CTAS, CNA, CTSH, ED, CXW, COST, CR, CROX, CCK, CSGS, CTS, CMI, DFS, ^DJU, DTE, DUK, EBAY, EIX, ELV, EOG, EPAM, EFX, EG, EVRG, EXC, EXPI, FFIV, FARO, FIVN, GME, GPN, GL, GOOGL, GES, HLIT, HAYN, HP, HD, HON, HWM, HURC, IBP, INTC, INTU, IRM, JBLU, KELYA, KFRC, KSS, KLIC, LAMR, LDOS, LNC, LMT, L, MTSI, M, MGY, MANH, MCHX, MKTX, MAS, MTRN, META, MGEE, MS, MYGN, NFLX, NTGR, NTAP, NKE, NI, JWN, NWPX, NTNX, OXY, OGE, OTEX, PATK, PDCO, PCTY, PRFT, PXD, PLXS, PPG, PFG, PG, PRU, QCOM, RRC, RGA, ROL, ROST, CRM, SBH, SAND, SAIC, SMG, SRE, SCI, SLGN, SKX, SMAR, SO, LUV, SWX, SWN, SNPS, TPR, TGT, TDOC, TFX, TMO, TJX, TSCO, TDG, TREX, UGI, VRSN, WMT, WU, WOLF, WDAY, XEL, ZBRA, IYK, FDN, QTEC, FXL, FXI, BOTZ, ICF, IAT, IYZ, IGV, IXC, SOXX, EWG, EWH, EIS, EWI, EWS, EWP, EWD, EWT, PPA, ROBO, XLP, XLU, 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 Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  11,904.90    
 Monthly S1  13,081.70  1,176.79   
 Monthly Pivot  13,720.65  638.96   
 Weekly S2  14,025.36  304.70   
 Daily S2  14,134.54  109.18   
 Weekly S1  14,141.92  7.39   Yes! The Weekly S1 is close to the Daily S2.
 Daily S1  14,196.51  54.59   
 Low  14,247.89  51.38   
 Weekly Pivot  14,250.77  2.88   Yes! The Weekly Pivot is close to the Low.
 Close  14,258.49  7.72   Yes! The Close is close to the Weekly Pivot.
 Daily Pivot  14,309.87  51.38   
 61.8% Down from Intraday High  14,314.87  5.00   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High  14,335.55  20.69   
 38.2% Down from Intraday High  14,356.24  20.69   
 Open  14,367.11  10.87   Yes! The Open is close to the 38.2% Down from Intraday High.
 Weekly R1  14,367.33  0.22   Yes! The Weekly R1 is close to the Open.
 Daily R1  14,371.84  4.51   Yes! The Daily R1 is close to the Weekly R1.
 High  14,423.22  51.38   
 Weekly R2  14,476.18  52.96   
 Daily R2  14,485.20  9.02   Yes! The Daily R2 is close to the Weekly R2.
 Monthly R1  14,897.45  412.25   
 Monthly R2  15,536.40  638.96   

Wednesday 11/29/23. 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 chart shows the CPI in the neutral zone, but it's a hair above bearish. I believe it means the index is going down.

The index is at overhead resistance setup by the prior July/August peak. You can see how the index has moved horizontally over the past week or so (perhaps because of the holiday).

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 38% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 40%.
The fewest was 26% on 07/31/2023.
And the most was 57% on 12/19/2022.
Shown as a blue line on the above chart...
The 518 stocks in my database are down an average of 19% from their yearly high.
A week ago, the average was 18%.
The peak was 14% on 07/31/2023.
And the bottom was 27% on 12/19/2022.

The red line shows improvement from a week ago and the blue line is worse. Go figure.

Because the two lines follow the index, I don't have much faith in what they say.

The CPI chart is neutral but hinting of a downturn and this chart is mixed. I still think the index is going lower.

$ $ $

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: AXDX, APD, AKAM, ALRM, DOX, AEO, AEP, AIG, AME, AMN, ADSK, AXS, BALL, BECN, BIG, BKH, BR, CBT, CACI, CE, CNC, CDAY, CLNE, CNA, CTSH, CMCO, CR, CRH, CCK, DFS, EG, EZPW, FE, FISV, FLEX, FRD, GE, GL, GS, GGG, GFF, HAYN, HSII, HP, HON, HWM, IIIN, INTU, JAZZ, KELYA, KMB, KLIC, LH, LDOS, L, LPLA, MHO, MAN, MLM, MTRN, META, MU, MOS, MYGN, NOV, NEU, NWPX, OR, OXM, PATK, PFE, PCG, PLXS, PPL, PFG, PG, PRU, PEG, QCOM, RL, RRC, RJF, RGA, RLI, ROST, SAND, SLB, SAIC, SRE, SMTC, SKX, SKYW, SO, SXI, SUM, TRGP, TDOC, TFX, TDG, TZOO, TG, UNH, MDRX, V, VMC, WU, WMB, WDAY, XEL, IYM, IYK, IHE, FXI, EWO, EWH, EIS, EWP, THD, TUR, EWU, SSO, XLP, GLD, XRT, SPY. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 11/28/23. Slider Trading Quiz!

The Dow dropped by -0.2% or -56.68 points. Since 10/01/1928 the Dow made 1251 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 625 occasions.
     Average loss was -0.7% on 626 occasions.
Expect the Dow to close lower 50.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 277/502 or 55.2% of the time.
     The prediction of the Dow closing lower has been right 52/109 or 47.7% of the time.

$ $ $

I show another slider trading quiz featuring V-tops.

$ $ $

I released version 8.0.0.3 to fix a quote download problem with Stockdata.org files. If you use this service, use historical quotes (once) to replace your existing files with new ones.

$ $ $

Here's a symbol list of 85 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ALGT, DOX, AMED, AMN, APH, ANIK, AON, ACGL, BSET, BIG, BR, CNC, CHS, CLNE, ED, FANG, DDS, EXPI, EZPW, FICO, FE, FMC, FRD, GNW, GS, HE, HL, HWM, HURC, IPI, NVTA, IRM, KMT, LHX, LLY, LMT, M, MTRN, MLI, NI, JWN, NOVT, OR, OUT, OMI, OXM, PKG, PFE, PCG, PPG, PEG, QCOM, RMBS, RGLD, SAND, SRE, SCCO, TFX, TEVA, TXT, TZOO, TG, UHAL, UNH, VMI, VEEV, MDRX, V, VMC, WU, FXI, SLV, EWH, EWI, EWM, TUR, DBA, PJP, GLD. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  31,281.13    
 Monthly S1  33,307.30  2,026.17   
 Monthly Pivot  34,353.37  1,046.07   
 Weekly S2  34,722.17  368.80   
 Weekly S1  35,027.82  305.65   
 Daily S2  35,211.67  183.85   
 Weekly Pivot  35,213.63  1.96   Yes! The Weekly Pivot is close to the Daily S2.
 Daily S1  35,272.57  58.94   
 Low  35,280.57  8.00   Yes! The Low is close to the Daily S1.
 61.8% Down from Intraday High  35,330.15  49.58   
 Close  35,333.47  3.32   Yes! The Close is close to the 61.8% Down from Intraday High.
 Daily Pivot  35,341.47  8.00   Yes! The Daily Pivot is close to the Close.
 50% Down from Intraday High  35,345.47  4.00   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  35,360.79  15.32   
 Open  35,376.44  15.66   
 Daily R1  35,402.37  25.93   
 High  35,410.37  8.00   Yes! The High is close to the Daily R1.
 Daily R2  35,471.27  60.90   
 Weekly R1  35,519.28  48.01   
 Weekly R2  35,705.09  185.81   
 Monthly R1  36,379.54  674.45   
 Monthly R2  37,425.61  1,046.07   

Monday 11/27/23. Market Monday: The Week Ahead

My Prediction

Picture of the Nasdaq on the daily scale.

I show the Nasdaq composite on the daily scale.

There's not much to talk about on the chart.

I drew trendlines along the peaks and mirrored a parallel trendline along the valleys. It shows the index pushing lower through the bottom trendline (A). In a measure-rule type move up, the index soared through the top trendline (B) and kept going.

The measure rule for trendlines, incidentally, suggests the move below the trendline will occur above the trendline in equal measure. It rarely works, but it's the thought that counts. Smiley

I still think the index will drop. That could happen in December, the first half of which is supposed to be weak. But if the FED raises interest rates (Dec 13), then look out below because the markets will tumble.

If they do, I'm all in (buying).

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A Brief Look Back

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

Monday: Up 203.76 points.
Tuesday: Down 62.75 points.
Wednesday: Up 184.74 points.
Friday: Up 117.12 points.
Saturday: Holiday or other weird event!

For the Week...

The Dow industrials were up 442.87 points or 1.3%.
The Nasdaq composite was up 125.37 points or 0.9%.
The S&P 500 index was up 45.32 points or 1.0%.

Year to Date...

Dow Industrials
     0.8% down from the high of 35,679.13 on 08/01/2023.
     12.6% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     1.4% down from the high of 14,446.55 on 07/19/2023.
     38.8% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     1.0% down from the high of 4,607.07 on 07/27/2023.
     20.2% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

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

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  35,264  35,327  35,363  35,426  35,463 
Weekly  34,741  35,066  35,233  35,557  35,724 
Monthly  31,300  33,345  34,372  36,417  37,445 
S&P500 (^GSPC): Daily  4,550  4,555  4,557  4,562  4,565 
Weekly  4,488  4,524  4,546  4,582  4,604 
Monthly  3,946  4,253  4,411  4,717  4,875 
Nasdaq (^IXIC): Daily  14,189  14,220  14,245  14,276  14,301 
Weekly  14,023  14,137  14,248  14,362  14,474 
Monthly  11,902  13,077  13,718  14,892  15,534 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

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

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

Here's a symbol list of 122 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABM, AXDX, ALGT, DOX, AMED, AEO, AFG, AMN, AR, ACGL, AXS, AZTA, BALL, BAX, BERY, BIG, BLDR, CLNE, CLX, CNA, CMCO, CAG, CSGP, CMI, DHR, DDS, DOV, BOOM, ELV, WIRE, EG, EXPI, EZPW, FIS, FNV, GNW, GPRO, GGG, GFF, HE, HAYN, HTLD, HL, HELE, HON, INFN, IPI, NVTA, KMT, KLIC, LHX, LNC, LMT, LOW, LPLA, M, MRTN, MTRN, MDT, NEU, NI, JWN, NOVT, ORI, ASGN, OR, PANW, PGR, PRU, KWR, QCOM, RRC, RTX, RNG, RLI, RHI, RES, SAIA, SAND, STR, SWN, SUM, SNPS, TFX, TEVA, TRV, TREX, TWLO, SLCA, VEEV, VRSN, V, WSO, WERN, WU, WMB, IHE, FXL, SLV, IEO, EWA, EWK, EWC, EWH, EIS, EWY, EWP, EWD, EWL, THD, IBB, DBA, PBE, PJP, XHB. 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. Retail (Special Lines)1. Computer Software and Svcs
2. Computer Software and Svcs2. Retail (Special Lines)
3. Shoe3. E-Commerce
4. Homebuilding4. Semiconductor
5. IT Services5. IT Services
6. Building Materials6. Building Materials
7. Insurance (Life)7. Semiconductor Cap Equip.
8. Furn/Home Furnishings8. Petroleum (Producing)
9. Internet9. Trucking/Transp. Leasing
10. E-Commerce10. Homebuilding
Best Performing AboveWorst Performing Below
50. Electric Utility (East)50. Healthcare Information
51. Healthcare Information51. Precision Instrument
52. Electric Utility (Central)52. Advertising
53. Household Products53. Household Products
54. Metal Fabricating54. Metal Fabricating
55. Chemical (Diversified)55. Short ETFs
56. Electric Utility (West)56. Chemical (Diversified)
57. Medical Supplies57. Electric Utility (West)
58. Short ETFs58. Food Processing
59. Food Processing59. Medical Supplies
60. Toiletries/Cosmetics60. Toiletries/Cosmetics

-- Thomas Bulkowski

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Friday 11/24/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 19 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ALGT, AMN, BIG, CLNE, DDS, EXPI, GNW, HE, HL, IPI, NVTA, KMT, M, MTDR, MGEE, JWN, NOVT, VEEV, 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.

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
DDDPipe bottom      10/23/202310/30/2023Electronics
ASHDouble Bottom, Adam and Adam      11/02/202311/10/2023Chemical (Basic)
BOOTTriangle, symmetrical      11/01/202311/22/2023Shoe
BRUgly double bottom      10/27/202311/10/2023Information Services
CBTHead-and-shoulders complex bottom      09/13/202310/13/2023Chemical (Diversified)
CINFDiamond bottom      10/02/202311/22/2023Insurance (Prop/Casualty)
DDSPipe bottom      11/06/202311/13/2023Retail Store
^DJTPipe bottom      10/23/202310/30/2023None
GPSFlag, high and tight      10/06/202311/22/2023Apparel
GDThree Rising Valleys      10/06/202311/09/2023Aerospace/Defense
GILDPipe top      10/30/202311/06/2023Biotechnology
HLBig W      10/05/202311/10/2023Metals and Mining (Div.)
KLACDouble Bottom, Eve and Eve      09/26/202310/26/2023Semiconductor Cap Equip.
LLYTriangle, symmetrical      11/03/202311/22/2023Drug
MPipe bottom      11/06/202311/13/2023Retail Store
ORIRising wedge      10/17/202311/22/2023Insurance (Prop/Casualty)
STRDouble Top, Adam and Adam      10/19/202311/03/2023Natural Gas (Diversified)
SCCODouble Bottom, Eve and Eve      10/23/202311/10/2023Metals and Mining (Div.)
SRHead-and-shoulders bottom      06/21/202307/17/2023Natural Gas (Distributor)
TFXUgly double bottom      10/30/202311/10/2023Diversified Co.
TEVADouble Bottom, Adam and Adam      11/10/202311/16/2023Drug
TZOOFlag, high and tight      10/23/202311/22/2023Internet
UGITriple bottom      10/06/202311/10/2023Natural Gas (Distributor)
UISFlag, high and tight      11/01/202311/22/2023Computers and Peripherals
UPSDouble Bottom, Adam and Adam      10/27/202311/10/2023Air Transport
VRSNPipe bottom      10/23/202310/30/2023Internet
WOLFPipe bottom      10/23/202310/30/2023Semiconductor
ZBRADouble Bottom, Adam and Adam      10/25/202311/01/2023Computers and Peripherals
ITBUgly double bottom      10/25/202311/09/2023Homebuilding

 

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Wednesday 11/22/23. A Look At Indicators

Picture of the chart pattern indicator

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

The CPI shows that it's still bullish but headed lower. The reading is 66 now, where 65 is neutral, so it's close to changing.

With overhead resistance above, I think it's likely the index will turn lower.

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, 40% 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 26% on 07/31/2023.
And the most was 57% on 12/19/2022.
Shown as a blue line on the above chart...
The 518 stocks in my database are down an average of 19% from their yearly high.
A week ago, the average was 19%.
The peak was 14% on 07/31/2023.
And the bottom was 27% on 12/19/2022.

There's a failure swing, circled in green. I don't know the significance because all this indicator does is follow the index.

I show another one circled in orange, which is supposed to be brown. Regardless, the index and indicator retreated after the appearance.

Both charts hint of weakness. Even through the day before thanksgiving ends higher 57.2% of the time, that's near random. I'm thinking it'll close lower this time.

$ $ $

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: ANF, AXDX, A, AKAM, ALGT, AEE, AMN, APOG, ACGL, ASH, ADSK, AVY, BALL, BSET, BIG, BAH, CALM, CAL, CLS, COR, CIEN, CI, CLNE, CNO, CAG, COTY, CRH, CTS, DHR, XRAY, DVN, DDS, EIX, EG, EXC, EXPI, FAST, FDP, GME, IT, GIS, GNW, GILD, HE, HQY, HL, HSY, HWM, JBHT, INCY, IIIN, IPI, NVTA, KMT, LHX, MHO, M, MGY, MKTX, MA, MTDR, MTRN, MDT, MGEE, MLKN, NBR, NOV, JWN, NOVT, OTEX, OR, OMI, PKE, PTEN, PEN, KWR, QCOM, RRC, R, SMTC, SHOP, STR, TFX, TMO, VEEV, WPM, WOLF, IYH, MXI, ILF, IEO, EWK, EWC, EWG, EWM, EWS, EWD, EWL, EWT, THD, DBA, PBE, 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

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Tuesday 11/21/23. Slider Trading Quiz!

The Dow climbed by 0.6% or 203.76 points. Since 10/01/1928 the Dow made 898 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 507 occasions.
     Average loss was -0.6% on 391 occasions.
Expect the Dow to close higher 56.5% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 277/501 or 55.3% of the time.
     The prediction of the Dow closing lower has been right 52/109 or 47.7% of the time.

$ $ $

I show another slider trading quiz featuring Double bottom, Adam & Adam.

$ $ $

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: DDD, ABT, AXDX, ACIW, AEIS, AES, AKAM, ALRM, ALGT, AYX, AEO, AEL, AXP, AR, APOG, AWI, ASH, AGO, ADSK, ADP, AVNT, BALL, BAX, BMRN, BA, CACI, CMCO, COTY, CTS, CMI, XRAY, DFS, ^DJI, ELV, EG, FDS, FAST, FE, FORM, GPS, GE, GILD, GOOGL, HAYN, HSII, HON, DHI, HUM, HUN, IDA, IDXX, IIIN, PODD, ITGR, IRM, KELYA, KEYS, KFRC, LEG, LEN, RAMP, L, MHO, MANH, MAN, MCHX, MTRN, MLKN, NFLX, NEU, OGE, OR, PKE, PATK, PETS, PPL, QTWO, QCOM, RRC, REGN, RNG, ROG, SLB, SMG, SHW, STR, SKYW, SUM, TDC, TZOO, VECO, V, WWD, IYK, DDM, FXL, FXI, BOTZ, IYH, ILF, IYF, IHI, ECH, EEM, EWQ, EWH, EIS, EWI, EWP, EWD, EWT, THD, TUR, DBA, PBE, PJP, ROBO, XLF, XLV, XLB, XAR, VHT, 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  31,452.55    
 Monthly S1  33,301.79  1,849.25   
 Weekly S2  33,957.36  655.57   
 Monthly Pivot  34,176.45  219.09   
 Weekly S1  34,554.20  377.75   
 Daily S2  34,776.00  221.80   
 Weekly Pivot  34,802.65  26.65   Yes! The Weekly Pivot is close to the Daily S2.
 Low  34,907.98  105.33   
 Open  34,932.49  24.51   Yes! The Open is close to the Low.
 Daily S1  34,963.52  31.03   Yes! The Daily S1 is close to the Open.
 61.8% Down from Intraday High  35,030.03  66.51   
 50% Down from Intraday High  35,067.73  37.70   
 Daily Pivot  35,095.50  27.77   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  35,105.43  9.93   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  35,151.04  45.61   
 High  35,227.48  76.44   
 Daily R1  35,283.02  55.54   
 Weekly R1  35,399.49  116.47   
 Daily R2  35,415.00  15.51   Yes! The Daily R2 is close to the Weekly R1.
 Weekly R2  35,647.94  232.94   
 Monthly R1  36,025.70  377.75   
 Monthly R2  36,900.35  874.65   

Monday 11/20/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow industrials on the daily scale.

I show the Dow industrials on the daily chart.

AB shows a chart pattern called a double top. That's two peaks near the same price with a valley between them. When the index closes below the valley, it means the pattern is valid and signals the index is going to drop.

And down the index tumbled.

From the October low, the index has recovered to touch the green line. That's overhead resistance setup by peaks A and B. My guess is we'll see the index drop back to, oh, about 34,300, about where the lower end of the gap is.

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A Brief Look Back

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

Monday: Up 54.77 points.
Tuesday: Up 489.83 points.
Wednesday: Up 163.51 points.
Thursday: Down 45.74 points.
Friday: Up 1.81 points.

For the Week...

The Dow industrials were up 664.18 points or 1.9%.
The Nasdaq composite was up 327.37 points or 2.4%.
The S&P 500 index was up 98.78 points or 2.2%.

Year to Date...

Dow Industrials
     2.1% down from the high of 35,679.13 on 08/01/2023.
     11.2% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     2.2% down from the high of 14,446.55 on 07/19/2023.
     37.6% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     2.0% down from the high of 4,607.07 on 07/27/2023.
     19.0% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

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

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  34,807  34,877  34,953  35,023  35,098 
Weekly  33,889  34,418  34,735  35,264  35,580 
Monthly  31,385  33,166  34,109  35,890  36,832 
S&P500 (^GSPC): Daily  4,491  4,502  4,511  4,523  4,532 
Weekly  4,349  4,432  4,476  4,559  4,604 
Monthly  3,962  4,238  4,380  4,656  4,797 
Nasdaq (^IXIC): Daily  14,024  14,075  14,115  14,165  14,205 
Weekly  13,496  13,811  14,003  14,317  14,509 
Monthly  11,971  13,048  13,621  14,699  15,272 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

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

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

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: AXDX, AMED, AEL, AON, APA, AMAT, ADP, BMRN, BCO, CPB, CLS, CVX, CTAS, COP, COST, CSGS, DECK, FANG, EFX, EZPW, FDS, FNV, GME, GPS, IT, GILD, HE, HL, HOLX, HUM, JBHT, HUN, IDA, ILMN, TILE, INTU, IRM, LH, LAMR, LEG, MHO, MTRN, MRK, MU, MUR, NFG, NKE, OGE, OUT, QCOM, RRC, REGN, ROST, SLB, STR, SCCO, SSYS, TPR, TRGP, TFX, TMO, TJX, TDG, UGI, UIS, UNH, WMT, WAT, WWD, IAI, IYK, IYE, BOTZ, ICF, IEV, IXC, MXI, ILF, IGE, IYF, EWK, EWQ, EWG, EWJ, EWP, EWD, EWL, EWT, TUR, DBA, XLP, XLE, XLF, XLV, XAR, USO. Click this link for details (pattern type, start and end dates).

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

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

This WeekLast Week
1. Computer Software and Svcs1. Computer Software and Svcs
2. Retail (Special Lines)2. Semiconductor Cap Equip.
3. E-Commerce3. Semiconductor
4. Semiconductor4. E-Commerce
5. IT Services5. IT Services
6. Building Materials6. Petroleum (Producing)
7. Semiconductor Cap Equip.7. Internet
8. Petroleum (Producing)8. Insurance (Life)
9. Trucking/Transp. Leasing9. Building Materials
10. Homebuilding10. Homebuilding
Best Performing AboveWorst Performing Below
50. Healthcare Information50. Precision Instrument
51. Precision Instrument51. Healthcare Information
52. Advertising52. Household Products
53. Household Products53. Chemical (Diversified)
54. Metal Fabricating54. Metal Fabricating
55. Short ETFs55. Electric Utility (East)
56. Chemical (Diversified)56. Electric Utility (Central)
57. Electric Utility (West)57. Electric Utility (West)
58. Food Processing58. Food Processing
59. Medical Supplies59. Medical Supplies
60. Toiletries/Cosmetics60. Toiletries/Cosmetics

-- Thomas Bulkowski

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Friday 11/17/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 95 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ALKS, AYX, AMZN, AEE, APH, AMAT, ANET, ADP, AZTA, BMRN, BFH, CBT, CPB, CX, CNP, CHD, CNA, CNO, CNX, CGNX, COP, CR, CTS, FANG, ^DJT, DUK, XOM, EZPW, FDS, GILD, GGG, HP, HUM, JBHT, ILMN, INCY, NSP, IPG, KALU, K, KELYA, KMB, KLIC, LZB, LAMR, LDOS, MHO, M, MTRN, MLKN, NFG, NOV, JWN, NTNX, OXY, OUT, PANW, PTEN, PAYX, PCTY, PXD, PINC, PFG, PGR, QCOM, RL, RRC, REGN, ^GSPC, SHW, STR, SWX, TDC, TJX, TZOO, TREX, UHAL, UGI, UNM, FTEC, SLV, EWP, IBB, DBA, PXJ, SSO, SPY, XLK, 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.

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AYIPipe bottom      10/23/202310/30/2023Furn/Home Furnishings
APipe bottom      10/23/202310/30/2023Precision Instrument
AONPipe bottom      10/23/202310/30/2023Insurance (Diversified)
APOGUgly double bottom      10/27/202311/09/2023Building Materials
ADMHead-and-shoulders bottom      10/06/202311/08/2023Food Processing
ARWUgly double bottom      10/25/202311/09/2023Electronics
ADSKDouble Bottom, Eve and Adam      10/26/202311/02/2023Computer Software and Svcs
BCPCUgly double bottom      10/27/202311/09/2023Chemical (Specialty)
BALLUgly double bottom      10/23/202311/10/2023Packaging and Container
BIGHorn top      10/16/202310/30/2023Retail Store
BMRNPipe bottom      10/30/202311/06/2023Biotechnology
BAHPipe bottom      10/23/202310/30/2023IT Services
BLDRUgly double bottom      10/30/202311/09/2023Retail Building Supply
CLSPipe bottom      10/23/202310/30/2023Electronics
CXDouble Bottom, Adam and Eve      10/09/202310/25/2023Cement and Aggregates
CENXHead-and-shoulders bottom      10/06/202311/09/2023Metals and Mining (Div.)
CGNXPipe bottom      10/23/202310/30/2023Precision Instrument
CMCOPipe bottom      10/23/202310/30/2023Machinery
CAGUgly double bottom      10/06/202310/23/2023Food Processing
GLWUgly double bottom      10/24/202311/10/2023Telecom. Equipment
CSGPPipe bottom      10/23/202310/30/2023Information Services
COSTTriple bottom      09/27/202310/27/2023Retail Store
CSGSPipe bottom      10/23/202310/30/2023IT Services
DHRPipe bottom      10/23/202310/30/2023Medical Services
EVHPipe bottom      10/23/202310/30/2023Healthcare Information
EXPDDouble Bottom, Eve and Adam      10/26/202311/07/2023Air Transport
FDXHead-and-shoulders bottom      10/13/202311/09/2023Air Transport
FLEXPipe bottom      10/16/202310/23/2023Electronics
FRDPipe bottom      10/23/202310/30/2023Building Materials
GDUgly double bottom      10/06/202310/24/2023Aerospace/Defense
GETriple bottom      10/20/202311/01/2023Diversified Co.
GNWDouble Top, Eve and Adam      10/13/202311/03/2023Insurance (Life)
HSYHead-and-shoulders bottom      10/12/202311/07/2023Food Processing
HOLXPipe bottom      10/23/202310/30/2023Medical Supplies
HDHead-and-shoulders bottom      10/06/202311/10/2023Retail Building Supply
HUBGUgly double bottom      10/27/202311/09/2023Trucking/Transp. Leasing
JBHTPipe bottom      10/23/202310/30/2023Trucking/Transp. Leasing
IDXXPipe bottom      10/23/202310/30/2023Drug
ITWHead-and-shoulders bottom      09/28/202311/09/2023Metal Fabricating
IIINPipe bottom      10/23/202310/30/2023Building Materials
IPGHead-and-shoulders bottom      10/04/202311/10/2023Advertising
ISRGDouble Bottom, Adam and Eve      10/20/202310/30/2023Medical Supplies
JBLUUgly double bottom      10/31/202311/10/2023Air Transport
KALUDouble Bottom, Eve and Adam      10/27/202311/13/2023Metals and Mining (Div.)
KLICPipe bottom      10/23/202310/30/2023Semiconductor Cap Equip.
LZBUgly double bottom      10/27/202311/10/2023Furn/Home Furnishings
MTriple bottom      09/21/202311/13/2023Retail Store
MANUgly double bottom      10/19/202311/13/2023Human Resources
MCHXTriangle, symmetrical      10/25/202311/16/2023Advertising
MTRNUgly double bottom      10/23/202311/09/2023Metals and Mining (Div.)
MDCUgly double bottom      10/27/202311/09/2023Homebuilding
MDTDouble Bottom, Adam and Adam      10/30/202311/10/2023Medical Supplies
MUDouble Bottom, Adam and Eve      09/28/202310/26/2023Semiconductor
MSUgly double bottom      10/30/202311/09/2023Securities Brokerage
MLIUgly double bottom      10/20/202311/09/2023Metal Fabricating
NTAPPipe bottom      10/23/202310/30/2023Computers and Peripherals
NWLTriple bottom      10/12/202311/13/2023Household Products
JWNBroadening bottom      10/09/202311/16/2023Retail Store
PANWDouble Bottom, Eve and Eve      10/26/202311/06/2023Computer Software and Svcs
PATKUgly double bottom      10/26/202311/10/2023Retail Building Supply
PYPLPipe bottom      10/23/202310/30/2023Financial Services
PSTGBroadening bottom      09/20/202311/15/2023Computers and Peripherals
RLDouble Bottom, Eve and Eve      10/12/202310/27/2023Apparel
RJFUgly double bottom      10/25/202311/10/2023Securities Brokerage
RNGPipe bottom      10/23/202310/30/2023Computer Software and Svcs
ROKDouble Bottom, Adam and Eve      11/02/202311/10/2023Diversified Co.
RGLDTriangle, symmetrical      09/20/202311/14/2023Metals and Mining (Div.)
RPipe bottom      10/23/202310/30/2023Trucking/Transp. Leasing
SAIAPipe bottom      10/23/202310/30/2023Trucking/Transp. Leasing
CRMDouble Bottom, Eve and Eve      10/03/202310/26/2023E-Commerce
SCHWDouble Bottom, Adam and Eve      10/06/202310/25/2023Securities Brokerage
SEICPipe bottom      10/23/202310/30/2023IT Services
SCIDouble Bottom, Adam and Eve      10/12/202311/01/2023Industrial Services
SKYWUgly double bottom      10/23/202311/10/2023Air Transport
TPRBroadening bottom      09/27/202311/09/2023Apparel
TGTPipe bottom      10/02/202310/09/2023Retail Store
TPXDouble Bottom, Adam and Adam      11/02/202311/10/2023Furn/Home Furnishings
TDCBroadening bottom      09/20/202311/07/2023Computer Software and Svcs
TTDDead-cat bounce      11/10/202311/10/2023Advertising
TMOPipe bottom      10/23/202310/30/2023Precision Instrument
TKRUgly double bottom      11/01/202311/13/2023Metal Fabricating
TSCOPipe bottom      10/23/202310/30/2023Retail Building Supply
TRVUgly double bottom      10/24/202311/15/2023Insurance (Prop/Casualty)
VMCPipe bottom      10/23/202310/30/2023Cement and Aggregates
WATPipe bottom      10/23/202310/30/2023Precision Instrument
WERNBroadening wedge, descending      09/20/202311/15/2023Trucking/Transp. Leasing
WUUgly double bottom      10/30/202311/10/2023Financial Services
WSMDouble Bottom, Adam and Adam      10/26/202311/10/2023Retail (Special Lines)
WOLFHead-and-shoulders bottom      10/09/202311/10/2023Semiconductor
WWWPipe bottom      10/09/202310/16/2023Shoe
SOXXPipe bottom      10/23/202310/30/2023Semiconductor
IHIHead-and-shoulders bottom      10/13/202311/10/2023Medical Supplies
XLKDouble Bottom, Eve and Adam      09/27/202310/26/2023IT Services

 

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Thursday 11/16/23. Intraday Market Direction: Nasdaq

The Nasdaq climbed by 0.1% or 9.46 points. Since 02/05/1971 the Nasdaq made 741 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 410 occasions.
     Average loss was -0.8% on 331 occasions.
Expect the Nasdaq to close higher 55.3% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 265/473 or 56.0% of the time.
     The prediction of the Nasdaq closing lower has been right 74/155 or 47.7% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

I drew two trendlines along the peaks and valleys. Notice that the lines rise and diverge. That behavior forms a chart patterns called an ascending broadening wedge.

Look at the right side of the pattern. Notice how the index has touched the top trendline? If the pattern behaves like it's supposed to, it means that the index should drop to the bottom trendline.

If we use Friday to Tuesday behavior as a guide, then maybe we'll see a dip followed by a return to the top trendline. Of course, the index could breakout upward. Given that we've seen the index rise dramatically in the past week or so, I think the probability suggests a drop here and not an upward breakout.

$ $ $

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: ADBE, AMD, AKAM, ALK, ALB, AMZN, AEO, AEL, APH, ACGL, ANET, AVY, BALL, BERY, BBY, BMRN, BKH, BKNG, BAH, CACI, CDNS, CPB, CX, CENX, CIEN, CSCO, CLF, CNO, CAG, GLW, COST, CSGS, DECK, FFIV, FICO, FAST, FISV, FRD, GILD, GL, GMS, GES, HQY, HSIC, HOLX, HUM, IIIN, INTC, TILE, K, KEYS, KMB, KSS, LHX, LDOS, LLY, LPLA, MHO, M, MCHX, MLM, MAS, MTRN, MTRX, META, NOV, NTAP, JWN, NOVT, NTNX, ON, OTEX, ORCL, OUT, OMI, OXM, PANW, PTEN, PSTG, KWR, QCOM, RL, RRC, RJF, REGN, ROL, R, SAND, SMG, SIGI, SKX, LUV, SNPS, TPR, TGT, TDC, TMO, RIG, UPS, VFC, VEEV, VMC, WRB, WSO, WERN, WU, XEL, IYM, IAI, IYC, QTEC, FXI, BOTZ, IGV, MXI, IXN, SLV, EWO, EWC, EEM, EWG, EWH, EPP, EZA, EWY, EWP, EWD, EWT, THD, DBA, PBE, PEJ, PXJ, ROBO, XLP, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

The 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  12,224.74    
 Monthly S1  13,164.29  939.55   
 Weekly S2  13,414.25  249.96   
 Monthly Pivot  13,483.41  69.16   
 Weekly S1  13,759.04  275.63   
 Weekly Pivot  13,780.79  21.74   
 Daily S2  13,985.97  205.19   
 Daily S1  14,044.91  58.93   
 Low  14,060.70  15.79   
 Close  14,103.84  43.14   
 61.8% Down from Intraday High  14,111.76  7.92   Yes! The 61.8% Down from Intraday High is close to the Close.
 Daily Pivot  14,119.63  7.88   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 Weekly R1  14,125.58  5.95   Yes! The Weekly R1 is close to the Daily Pivot.
 50% Down from Intraday High  14,127.53  1.95   Yes! The 50% Down from Intraday High is close to the Weekly R1.
 38.2% Down from Intraday High  14,143.30  15.77   
 Open  14,147.27  3.97   Yes! The Open is close to the 38.2% Down from Intraday High.
 Weekly R2  14,147.33  0.06   Yes! The Weekly R2 is close to the Open.
 Daily R1  14,178.57  31.24   
 High  14,194.36  15.79   
 Daily R2  14,253.29  58.93   
 Monthly R1  14,422.96  169.67   
 Monthly R2  14,742.08  319.12   

Wednesday 11/15/23. 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.

I highlight the gap at A. One can argue that it's a breakaway gap because it breaks away from a congestion area. That area is just below the gap and it is about a week long. It's a flag pattern. I show the flag by two parallel red lines.

That was my first thought (breakaway gap). However, I know that exhaustion gaps can be quite tall. Does the height of this gap qualify? If it does, then look for a quick and probably violent reversal.

If the answer is no, then look for the index to continue higher.

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, 40% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 46%.
The fewest was 26% on 07/31/2023.
And the most was 57% on 12/19/2022.
Shown as a blue line on the above chart...
The 518 stocks in my database are down an average of 19% from their yearly high.
A week ago, the average was 21%.
The peak was 14% on 07/31/2023.
And the bottom was 27% on 12/19/2022.

Both the red and blue lines show improvement compared to a week ago. No surprise there, given Tuesday's big gain.

Given that both charts are bullish, I expect the index to see price continuing to move higher. If I'm wrong, then look for a quick and sharp reversal. If it happens, it should occur quickly, on Wednesday.

$ $ $

Here's a symbol list of 355 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, AXDX, ACN, AYI, ADBE, AEIS, AMD, AES, AFL, A, ATSG, AKAM, ALK, AA, AYX, AMZN, AEE, AEO, AEP, AEL, AXP, AMWD, AME, APH, ANIK, APOG, AAPL, AMAT, ARCB, ACGL, AWI, ARW, ASH, ADSK, ADP, AVY, BALL, BSET, BECN, BZH, BERY, BMRN, BKH, BOOT, BAH, BRC, BCO, BR, BLDR, CBT, CDNS, CE, CLS, CX, CNP, CENX, CIEN, CTAS, CLF, CNO, CGNX, CTSH, CMCO, CMTL, CAG, GLW, CSGP, COST, CROX, CCRN, CSGS, CTS, DHR, DDS, DOV, DTE, DUK, EXP, EMN, EBAY, ECL, EIX, EME, WIRE, EPAM, EFX, EVRG, EVH, EXC, EXPI, EXPD, FDS, FARO, FDX, FIS, FIVN, FLEX, FLS, FORM, FRD, GPS, IT, GNW, GILD, GMS, GS, GOOGL, GGG, GFF, GES, HBI, HE, HQY, HSII, HON, DHI, HOV, HUM, HUN, HURC, IDA, IDXX, ITW, ILMN, INCY, IBP, IIIN, ITGR, IPAR, TILE, IPG, INTU, JKHY, JBLU, KBH, KEYS, KMB, KLAC, KSS, KLIC, LHX, LZB, LRCX, LANC, LEG, LEN, LNC, RAMP, LOW, LPLA, LXU, MHO, MTSI, M, MANH, MCHX, MKTX, MRTN, MLM, MAS, MA, MTRN, MTRX, MDC, META, MLKN, MS, MOS, MLI, NBR, NOV, NTAP, NEU, JWN, NWPX, NTNX, OGE, OLN, ASGN, OTEX, PKG, PANW, PKE, PATK, PAYX, PYPL, PRFT, PETS, PNW, PLXS, POR, PPG, PPL, PINC, PRU, PEG, PHM, PSTG, QTWO, KWR, QCOM, DGX, RMBS, RRC, RJF, REGN, RGS, RNG, RHI, ROG, ROL, ROST, RES, R, SAIA, CRM, SBH, SEE, SEIC, SIGI, SCI, NOW, SHW, SHOP, SLGN, SKX, SKYW, SMAR, SO, SWX, SPSC, SCS, SRDX, SNPS, TPR, TRGP, TDY, TDC, TER, TEVA, TXN, TKR, TJX, TOL, TREX, TWLO, UHAL, VFC, VMI, VRTX, VMC, WAT, WSO, WLK, WMB, WSC, WDAY, XEL, IYM, IAI, IYC, ITB, IDU, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, IAT, IEV, IGV, IXC, MXI, IXN, ILF, SOXX, SLV, IYF, IHI, EWO, EWK, EWZ, EWC, ECH, EEM, EWQ, EWG, EWH, EWI, EWJ, EWW, EZA, EWP, EWD, EWL, EWT, THD, TUR, QLD, PPA, DBA, PEJ, PHO, SSO, ROBO, XLY, XLP, XLE, XLF, GLD, XHB, XLI, XLB, XRT, SPY, XAR, XLK, XLU, SMH, VIS, VAW, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 11/14/23. Slider Trading Quiz!

The Dow climbed by 0.2% or 54.77 points. Since 10/01/1928 the Dow made 1370 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 745 occasions.
     Average loss was -0.5% on 625 occasions.
Expect the Dow to close higher 54.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 276/500 or 55.2% of the time.
     The prediction of the Dow closing lower has been right 52/109 or 47.7% of the time.

$ $ $

I show another slider trading quiz featuring Pennants.

$ $ $

Here's a symbol list of 121 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, AYI, ADBE, ADTN, A, AEL, AON, APA, ARCB, ADSK, BMI, BIG, BIO, BA, BOOT, BAH, BR, CDNS, CLS, CNP, CENX, CHD, CGNX, CL, CMCO, CAG, CSGP, COTY, CSGS, CTS, CW, DHR, ^DJT, EXP, EPAM, EVH, FICO, FDX, FIS, FRD, GNW, GPN, GPRO, HE, HOLX, DHI, JBHT, HUN, IDXX, INCY, IIIN, JKHY, K, KLIC, RAMP, LPLA, MAN, MA, MTRX, META, MGEE, MU, MYGN, NTAP, NWPX, NVDA, ORI, PYPL, PFE, QTWO, DGX, RMBS, RNG, RCKY, R, SAIA, SEIC, SLGN, STR, SKX, SO, SWX, SR, SPSC, SRDX, TMO, TSCO, TZOO, TWLO, VFC, VRSN, VMC, WAT, WEX, WOLF, ITA, IEZ, FDN, QTEC, FXL, IYZ, SOXX, ECH, EWY, THD, TUR, QLD, PPA, DBA, SSO, ROBO, SMH, MGK. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  31,675.32    
 Monthly S1  33,006.59  1,331.28   
 Monthly Pivot  33,658.48  651.88   
 Weekly S2  33,718.74  60.27   
 Weekly S1  34,028.30  309.56   
 Daily S2  34,116.48  88.17   
 Weekly Pivot  34,169.33  52.86   
 Low  34,205.81  36.48   
 Daily S1  34,227.17  21.36   
 Open  34,259.25  32.08   
 61.8% Down from Intraday High  34,282.22  22.97   
 50% Down from Intraday High  34,305.82  23.60   
 Daily Pivot  34,316.51  10.68   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  34,329.43  12.92   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  34,337.87  8.44   Yes! The Close is close to the 38.2% Down from Intraday High.
 High  34,405.84  67.97   
 Daily R1  34,427.20  21.36   
 Weekly R1  34,478.90  51.70   
 Daily R2  34,516.54  37.64   
 Weekly R2  34,619.92  103.39   
 Monthly R1  34,989.75  369.83   
 Monthly R2  35,641.64  651.88   

Monday 11/13/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow transports on the daily scale.

I show the Dow transports on the daily scale.

The red lines highlight a V-top, probably with an extension (called an extended V-top).

I circled the extension in red. It seems distant from the peak, so maybe its just a retrace in a downtrend.

If you were to see this V-top without seeing what happened below the red circle, you'd be hard pressed to suggest that the index would drop back to the launch price. The launch price is the price where the uptrend began in June. However, the transports did drop back to the launch price, shown by an extended V-bottom (in blue).

I circled the extension. I'd say the uptrend is going to resume this week. The index is sitting atop a continuation gap, which will show meager support but it might be enough to send the index higher. That's my guess (that the index will rise).

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A Brief Look Back

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

Monday: Up 34.54 points.
Tuesday: Up 56.74 points.
Wednesday: Down 40.33 points.
Thursday: Down 220.33 points.
Friday: Up 391.16 points.

For the Week...

The Dow industrials were up 221.78 points or 0.7%.
The Nasdaq composite was up 319.83 points or 2.4%.
The S&P 500 index was up 56.9 points or 1.3%.

Year to Date...

Dow Industrials
     3.9% down from the high of 35,679.13 on 08/01/2023.
     9.1% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     4.5% down from the high of 14,446.55 on 07/19/2023.
     34.4% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     4.2% down from the high of 4,607.07 on 07/27/2023.
     16.4% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

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

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Swing Traders: Pivot Points

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

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  33,762  34,022  34,166  34,427  34,571 
Weekly  33,700  33,992  34,151  34,442  34,602 
Monthly  31,657  32,970  33,640  34,953  35,623 
S&P500 (^GSPC): Daily  4,331  4,373  4,396  4,438  4,460 
Weekly  4,318  4,367  4,392  4,441  4,466 
Monthly  3,998  4,207  4,312  4,521  4,627 
Nasdaq (^IXIC): Daily  13,473  13,635  13,719  13,882  13,965 
Weekly  13,312  13,555  13,679  13,922  14,045 
Monthly  12,123  12,960  13,382  14,219  14,640 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

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

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

Here's a symbol list of 156 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, AYI, ADBE, A, ALRM, AMZN, AON, AMAT, ATR, AWI, ADSK, BIG, BIO, BOOT, BAH, BR, CDNS, CAL, CLS, CENX, CLNE, CGNX, CMCO, CAG, CSGP, COST, COTY, CSGS, CTS, DHR, DECK, XRAY, ^DJT, EXP, EPAM, EVH, EZPW, FICO, FDX, FIS, FRD, GNW, GPN, GOOGL, GPRO, GFF, HL, HSIC, HOLX, DHI, JBHT, IDXX, ILMN, IIIN, JKHY, KLIC, RAMP, MRTN, MA, MRK, META, MU, MYGN, NTAP, NJR, NKE, NWPX, NUS, NVDA, ON, OTEX, ORCL, PYPL, PETS, PFE, QTWO, DGX, RMBS, RRC, RTX, REGN, RGS, RNG, R, SAIA, CRM, SEE, SEIC, NOW, SLGN, SKX, LUV, SR, SPSC, SSYS, TDC, TER, TXN, TTD, TMO, TSCO, TWLO, UIS, UPS, VFC, VLO, VEEV, VRSN, V, VMC, WAT, WEX, WSM, WSC, WOLF, FDN, QTEC, FXL, FXI, IYZ, SOXX, EWC, EWH, EWM, EPP, EWY, EWT, THD, QLD, DBA, SSO, ROBO, GLD, 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.

This WeekLast Week
1. Computer Software and Svcs1. Petroleum (Producing)
2. Semiconductor Cap Equip.2. Computer Software and Svcs
3. Semiconductor3. Semiconductor Cap Equip.
4. E-Commerce4. Semiconductor
5. IT Services5. E-Commerce
6. Petroleum (Producing)6. Insurance (Life)
7. Internet7. Oilfield Svcs/Equipment
8. Insurance (Life)8. Homebuilding
9. Building Materials9. IT Services
10. Homebuilding10. Building Materials
Best Performing AboveWorst Performing Below
50. Precision Instrument50. Chemical (Diversified)
51. Healthcare Information51. Short ETFs
52. Household Products52. Electric Utility (East)
53. Chemical (Diversified)53. Electric Utility (Central)
54. Metal Fabricating54. Precision Instrument
55. Electric Utility (East)55. Metal Fabricating
56. Electric Utility (Central)56. Household Products
57. Electric Utility (West)57. Electric Utility (West)
58. Food Processing58. Food Processing
59. Medical Supplies59. Toiletries/Cosmetics
60. Toiletries/Cosmetics60. Medical Supplies

-- Thomas Bulkowski

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Friday 11/10/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 301 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, AXDX, ACIW, AYI, ADBE, AMD, A, AA, ALKS, AEE, AEP, AXP, AFG, AON, APOG, ATR, ADSK, AVNT, AZTA, BMI, BCPC, BECN, BIG, BIO, BMRN, BA, BOOT, BAH, BRC, BFH, BR, BBW, BG, CBT, CDNS, CAL, CLS, CENX, CDAY, CHKP, CLNE, CGNX, CTSH, CL, CMCO, CMTL, CAG, CXW, CSGP, COTY, CCRN, CSGS, CTS, DHR, ^DJT, D, BOOM, EXP, ELV, WIRE, EPAM, EVH, EXC, EXPD, FICO, FARO, FDX, FIS, FLEX, FMC, FORM, FTNT, FRD, GPN, GS, GOOGL, GPRO, GES, HTLD, HELE, HP, HSIC, HOLX, DHI, HOV, HUBG, JBHT, IEX, IDXX, INCY, IIIN, INTC, IPAR, TILE, NVTA, IRM, JKHY, JAZZ, KEYS, KLAC, KLIC, LDOS, LEN, RAMP, LPLA, MTSI, MGY, MKTX, MA, MTRX, MDT, MRK, MRCY, META, MU, MLKN, MOS, MYGN, NFG, NTAP, NJR, NWL, NEU, NEE, NKE, NI, NTNX, NVDA, OXY, OTEX, OR, OUT, PKG, PANW, PATK, PYPL, PRFT, PFE, PINC, PHM, QTWO, KWR, DGX, RMBS, RRC, RTX, REGN, RGS, RGA, RNG, RES, R, SAIA, CRM, SLB, SAIC, SEE, SEIC, SRE, SHW, SKX, SKYW, SO, LUV, SWX, SR, SPSC, SXI, SSYS, TECH, TDOC, TER, TXN, TTD, TMO, TSCO, TDG, TREX, TWLO, UHAL, UIS, UPS, VRSN, VRTX, V, VMC, WRB, WAT, WSO, WERN, WLK, WEX, WSM, WSC, WOLF, WWD, XEL, IYK, IYC, IHE, FTEC, FDN, QTEC, FXL, BOTZ, ICF, IYH, IHF, IYZ, IEV, IGV, MXI, IXN, SOXX, EWH, EIS, EWM, EWY, EWL, EWT, QLD, IBB, DBA, PBE, SSO, ROBO, XLP, XLF, XLV, XHB, XLI, XLB, XAR, XLK, SMH, VHT, VIS, VAW, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ADBEPipe bottom      10/23/202310/30/2023Computer Software and Svcs
ADTNDead-cat bounce      11/07/202311/07/2023Telecom. Equipment
AMDDouble Bottom, Eve and Eve      09/25/202310/26/2023Semiconductor
APDDouble Top, Eve and Adam      10/12/202311/03/2023Chemical (Diversified)
ATSGDead-cat bounce      11/07/202311/07/2023Air Transport
AAPLDouble Bottom, Adam and Eve      09/28/202310/26/2023Computers and Peripherals
ADSKPipe bottom      10/23/202310/30/2023Computer Software and Svcs
CDNSPipe bottom      10/23/202310/30/2023Computer Software and Svcs
CPBPipe bottom      10/02/202310/09/2023Food Processing
CXPipe bottom      10/02/202310/09/2023Cement and Aggregates
CDAYDouble Top, Adam and Eve      09/12/202310/11/2023Information Services
CIDouble Top, Eve and Adam      10/17/202311/02/2023Medical Services
CAGTriangle, ascending      10/10/202311/08/2023Food Processing
COTYPipe bottom      10/23/202310/30/2023Toiletries/Cosmetics
CTSPipe bottom      10/23/202310/30/2023Electronics
DDouble Bottom, Adam and Eve      10/06/202310/23/2023Electric Utility (East)
DTEBroadening bottom      10/11/202311/03/2023Electric Utility (Central)
EXPPipe bottom      10/23/202310/30/2023Cement and Aggregates
EMEPipe bottom      10/16/202310/23/2023Industrial Services
WIREPipe bottom      10/16/202310/23/2023Metals and Mining (Div.)
EPAMPipe bottom      10/23/202310/30/2023IT Services
FICOPipe bottom      10/23/202310/30/2023IT Services
FISPipe bottom      10/23/202310/30/2023Computer Software and Svcs
FISVHead-and-shoulders bottom      10/03/202310/30/2023IT Services
FTNTDead-cat bounce      11/03/202311/03/2023Computer Software and Svcs
ITDouble Bottom, Adam and Adam      08/18/202310/27/2023IT Services
GPROPipe bottom      10/23/202310/30/2023Electronics
GGGPipe bottom      10/16/202310/23/2023Machinery
GFFTriple bottom      09/19/202310/23/2023Building Materials
HBIDouble Top, Eve and Eve      10/19/202311/03/2023Apparel
PODDDouble Bottom, Adam and Adam      10/12/202311/01/2023Medical Supplies
NVTADead-cat bounce      11/09/202311/09/2023Medical Services
JKHYPipe bottom      10/23/202310/30/2023IT Services
LANCPipe top      10/09/202310/16/2023Food Processing
RAMPPipe bottom      10/23/202310/30/2023Computer Software and Svcs
LDouble Bottom, Adam and Adam      10/23/202310/30/2023Insurance (Prop/Casualty)
MAPipe bottom      10/23/202310/30/2023Financial Services
METAPipe bottom      10/23/202310/30/2023E-Commerce
MYGNPipe bottom      10/23/202310/30/2023Biotechnology
NKEUgly double bottom      09/28/202310/27/2023Shoe
NVDAPipe bottom      10/23/202310/30/2023Semiconductor
ORHead-and-shoulders bottom      09/27/202310/12/2023Metals and Mining (Div.)
PKGPipe bottom      10/16/202310/23/2023Packaging and Container
PNWTriple top      10/17/202311/02/2023Electric Utility (West)
QTWOPipe bottom      10/23/202310/30/2023E-Commerce
RMBSPipe bottom      10/23/202310/30/2023Semiconductor Cap Equip.
RCKYFlag, high and tight      10/31/202311/08/2023Shoe
ROLPipe bottom      10/16/202310/23/2023Industrial Services
SKXPipe bottom      10/23/202310/30/2023Shoe
SKYWPipe bottom      10/16/202310/23/2023Air Transport
SPSCPipe bottom      10/23/202310/30/2023E-Commerce
TWLOPipe bottom      10/23/202310/30/2023E-Commerce
UHALPipe bottom      10/23/202310/30/2023Trucking/Transp. Leasing
UGIDouble Bottom, Adam and Eve      10/06/202310/23/2023Natural Gas (Distributor)
WPMUgly double bottom      10/03/202310/26/2023Metals and Mining (Div.)
FDNPipe bottom      10/23/202310/30/2023Internet
QTECPipe bottom      10/23/202310/30/2023Electronics

 

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Thursday 11/9/23. Ethereum (ETH-USD) More Up?

The Nasdaq climbed by 0.1% or 10.55 points. Since 02/05/1971 the Nasdaq made 740 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 410 occasions.
     Average loss was -0.8% on 330 occasions.
Expect the Nasdaq to close higher 55.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 265/472 or 56.1% of the time.
     The prediction of the Nasdaq closing lower has been right 74/155 or 47.7% of the time.

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

Picture of ethereum on daily scale.

$ $ $

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

BC is a flag. The flag pole, which I consider vital to the pattern, begins at A. It rises to B. That's the height of the pattern which I'll use to help predict a target.

The height, eyeballing the numbers, is 1850 - 1550 or 300 points. Add the height to C, 1750, gives a target of 2050. That's off the top end of the scale. It likely won't reach that because flags often only reach the target 46% of the time, even though I'm conservative by using the bottom start of the flag (versus the bottom end, which is about 1800).

Before it can try to reach its target, it has to breakout upward from the knot where it's at now. It could breakout downward, pullback, and then soar, of course.

This looks like it'll move higher but the ride may be bumpy.

$ $ $

Here's a symbol list of 280 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, AYI, ADBE, A, AKAM, ALRM, ALKS, AEP, AEL, AON, APA, APOG, AAPL, ARCB, AGO, ATO, ADSK, AZTA, BMI, BCPC, BIG, BIO, BIIB, BOOT, BAH, BFH, BR, BBW, CDNS, CAL, CLS, CNP, CENX, CRL, CVX, CINF, CLNE, CGNX, CTSH, CMCO, CMTL, ED, COP, CSGP, COTY, CSGS, CTS, CMI, CW, DHR, DVN, ^DJU, ^DJT, DUK, EXP, EBAY, EIX, ELV, EOG, EPAM, EQT, EG, EVH, EXPD, FICO, FDX, FIS, FMC, FWRD, FNV, FCX, FRD, GD, GILD, GPN, GPRO, GES, HIG, HELE, HP, HOLX, HUM, JBHT, IDA, IEX, IDXX, INCY, NSP, IIIN, INTC, IBKR, NVTA, JKHY, JAZZ, KALU, KEYS, KLAC, KLIC, LEG, RAMP, L, LXU, MTSI, MGY, MRO, MKTX, MA, MTDR, MTRN, MTRX, MDC, MDT, MRK, MRCY, META, MU, MS, MUR, MYGN, NBR, NFG, NOV, NTAP, NJR, NWL, NEE, NKE, NI, JWN, NUS, NVDA, OGE, OMCL, PKG, PANW, PATK, PTEN, PYPL, PRFT, PCG, PNW, POR, PHM, QTWO, DGX, RMBS, RRC, REGN, RGS, RNG, RCKY, ROG, RGLD, R, SAIA, SAIC, SEIC, SRE, NOW, STR, SKX, SKYW, SCCO, LUV, SR, SPSC, SSYS, SUM, SRDX, TRGP, TECH, TDOC, TER, TXN, TTD, TMO, TSCO, RIG, TG, TWLO, UHAL, UIS, UPS, VLO, VRSN, VRTX, VC, VMC, WRB, WAT, WERN, WEX, WPM, WMB, WSM, WOLF, XEL, IYM, IYK, IYE, IHE, IDU, FDN, QTEC, FXL, IYH, IHF, IYZ, IXC, MXI, IXN, SOXX, IGE, IEO, EWC, EWH, EWJ, EWM, EWW, EPP, EWS, EWY, EWT, EWU, QLD, IBB, DBA, PBE, PXJ, SSO, ROBO, XLP, XLE, XLV, XLU, UNG, USO, SMH, VHT. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  12,132.52    
 Weekly S2  12,458.70  326.17   
 Monthly S1  12,891.47  432.77   
 Weekly S1  13,054.55  163.09   
 Weekly Pivot  13,287.42  232.86   
 Monthly Pivot  13,302.80  15.39   
 Daily S2  13,525.00  222.19   
 Low  13,573.58  48.58   
 Daily S1  13,587.70  14.12   
 61.8% Down from Intraday High  13,616.09  28.39   
 50% Down from Intraday High  13,629.22  13.13   
 Daily Pivot  13,636.29  7.06   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  13,642.36  6.07   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  13,650.41  8.05   Yes! The Close is close to the 38.2% Down from Intraday High.
 Open  13,660.22  9.81   Yes! The Open is close to the Close.
 High  13,684.87  24.65   
 Daily R1  13,698.99  14.12   
 Daily R2  13,747.58  48.58   
 Weekly R1  13,883.27  135.70   
 Monthly R1  14,061.75  178.47   
 Weekly R2  14,116.14  54.39   
 Monthly R2  14,473.08  356.95   

Wednesday 11/8/23. 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.

As the chart shows, the vertical green bar on the far right of the chart shows a strong upward move.

The index is hitting overhead resistance now, so I expect a retrace. Indeed, you can see the thin blue line at the bottom of the chart (the CPI line) turning down already.

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, 45% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 51%.
The fewest was 26% on 07/31/2023.
And the most was 59% on 11/09/2022.
Shown as a blue line on the above chart...
The 520 stocks in my database are down an average of 21% from their yearly high.
A week ago, the average was 24%.
The peak was 14% on 07/31/2023.
And the bottom was 28% on 11/09/2022.

Both lines prospered over the past week, compared to a week ago.

However, just like the CPI line, the two lines here (red and blue), are turning down.

Both charts are bullish but warning of a downturn coming. I expect a retrace will take the index lower for a few days, maybe a week.

$ $ $

Here's a symbol list of 275 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AYI, ADBE, ADTN, AFL, A, APD, ATSG, AKAM, AA, AYX, AMWD, AME, AON, AMAT, AWI, ASH, ATO, ADSK, AZTA, BCPC, BERY, BBY, BIG, BIO, BIIB, BMRN, BA, BOOT, BAH, BFH, BR, CBT, CDNS, CAL, CLS, COR, CENX, CRL, CHKP, CVX, CHS, CLNE, CGNX, CTSH, CMCO, CMTL, GLW, CSGP, COTY, CSGS, CTS, CMI, DHR, DVN, DRQ, EXP, EBAY, EMR, EPAM, EQT, EVH, EXPD, XOM, FICO, FDX, FIS, FISV, FIVN, FMC, FORM, FTNT, FNV, FDP, FRD, GD, GPN, GL, GPRO, GFF, HIG, HELE, HP, HSIC, HOLX, JBHT, IEX, IDXX, INCY, INFN, IIIN, INTU, ISRG, NVTA, JKHY, KALU, KBH, KELYA, KEYS, KFRC, KLAC, KLIC, LH, LRCX, LLY, RAMP, MTSI, M, MRO, MKTX, MA, MTRX, MDT, MRK, META, MGEE, MU, MSFT, MOS, MYGN, NBR, NTAP, NJR, NWL, NOVT, NVDA, OXY, OLN, PANW, PTEN, PYPL, PXD, PRU, QTWO, QCOM, DGX, RL, RMBS, RRC, RJF, REGN, RGS, RNG, ROG, ROL, ROP, RGLD, RES, R, SAIA, CRM, SAND, SAIC, SEE, SEIC, NOW, STR, SKX, SMAR, LUV, SR, SPSC, SXI, SSYS, TPR, TDOC, TDC, TER, TXN, TTD, TMO, TKR, TSCO, TZOO, TWLO, UHAL, UIS, UPS, VLO, VMI, VECO, MDRX, VRSN, V, VMC, WAT, WSO, WEX, WMB, WSM, WOLF, WWD, WDAY, IYE, ITB, IHE, FTEC, FDN, QTEC, FXL, ICF, IYH, IAT, IYZ, IGV, IXN, SOXX, IHI, EWA, EWK, EWZ, EIS, EWI, EWJ, EWW, EWY, QLD, IBB, DBA, PBE, PEJ, PXJ, SSO, ROBO, XLE, GLD, XLV, XLK, UNG, USO, SMH, VHT, VIS, VONG. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 11/7/23. Slider Trading Quiz!

The Dow climbed by 0.1% or 34.54 points. Since 10/01/1928 the Dow made 1403 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.5% on 720 occasions.
     Average loss was -0.6% on 683 occasions.
Expect the Dow to close higher 51.3% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 275/499 or 55.1% of the time.
     The prediction of the Dow closing lower has been right 52/109 or 47.7% of the time.

$ $ $

I show another slider trading quiz featuring Triangles, descending..

$ $ $

Here's a symbol list of 141 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AFL, APD, ALK, AA, AYX, AMED, AEO, AMGN, ARCB, ASH, BSET, BECN, BZH, BERY, BIG, BA, BKNG, BBW, CBT, CLS, CX, CHKP, CSCO, CLF, CNO, GLW, CMI, CW, XRAY, DSGR, DRQ, EME, WIRE, EXPI, EXPD, FDS, FLEX, FORM, FRD, GL, GGG, HIG, HTLD, HP, HOV, IEX, IDXX, ITGR, IPAR, IRM, KELYA, KLAC, L, MHO, M, MCHX, MOS, NBR, NJR, NWL, NXGN, NWPX, NUS, OXY, ON, PKG, PATK, PTEN, PCTY, PYPL, PNW, PINC, PRU, PSTG, DGX, RL, RJF, ROK, ROL, RES, SMG, SEE, SMTC, STR, SKYW, SMAR, LUV, SCS, TPR, TGT, TDOC, TFX, TKR, TZOO, TWLO, SLCA, MDRX, WRB, WEX, WMB, WWD, ZBRA, IYM, IYC, IHE, FTEC, ICF, IAT, IYZ, IXC, MXI, IGE, IEO, IHI, EWA, EWK, ECH, EEM, EWH, EWI, EWM, EWS, EWY, EWT, DBA, PXJ, XAR, VIS. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  31,692.47    
 Weekly S2  31,972.92  280.45   
 Monthly S1  32,894.16  921.24   
 Weekly S1  33,034.39  140.23   
 Monthly Pivot  33,528.90  494.51   
 Weekly Pivot  33,599.01  70.11   
 Daily S2  33,906.74  307.73   
 Low  33,989.72  82.98   
 Daily S1  34,001.30  11.58   Yes! The Daily S1 is close to the Low.
 61.8% Down from Intraday High  34,057.54  56.24   
 50% Down from Intraday High  34,078.49  20.95   
 Daily Pivot  34,084.28  5.79   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Open  34,092.61  8.33   Yes! The Open is close to the Daily Pivot.
 Close  34,095.86  3.25   Yes! The Close is close to the Open.
 38.2% Down from Intraday High  34,099.44  3.58   Yes! The 38.2% Down from Intraday High is close to the Close.
 High  34,167.26  67.82   
 Daily R1  34,178.84  11.58   Yes! The Daily R1 is close to the High.
 Daily R2  34,261.82  82.98   
 Weekly R1  34,660.48  398.66   
 Monthly R1  34,730.59  70.11   
 Weekly R2  35,225.10  494.51   
 Monthly R2  35,365.33  140.23   

Monday 11/6/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

I show the Dow utilities on the daily scale.

I highlighted a gap on the chart but it appears on the charts of other indices, too. To me it looks as if the uptrend is going to stop, probably Monday.

The gap is called an exhaustion gap and it comes at the end of a move. Here's what I write on the website: "Happens at the end of a trend on high volume. The gap is usually not followed by new highs or lows, and the gap may be unusually tall. After the gap, price consolidates or reverses direction. Commonly occurs after continuation gaps. Exhaustion gaps usually close within a week.

Although we won't know for sure if it's an exhaustion gap yet, I think it's likely.

The Dow industrials already shows a continuation gap. This could be another continuation gap but more likely it's an exhaustion gap.

What are the implications of that? Look for a quick reversal. "Violent reversals can follow an exhaustion gap..." Again, that's from the above link. I see price dropping back to A before a recovery.

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A Brief Look Back

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

Monday: Up 511.37 points.
Tuesday: Up 123.91 points.
Wednesday: Up 221.71 points.
Thursday: Up 564.5 points.
Friday: Up 222.24 points.

For the Week...

The Dow industrials were up 1643.73 points or 5.1%.
The Nasdaq composite was up 835.27 points or 6.6%.
The S&P 500 index was up 240.97 points or 5.9%.

Year to Date...

Dow Industrials
     4.5% down from the high of 35,679.13 on 08/01/2023.
     8.4% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     6.7% down from the high of 14,446.55 on 07/19/2023.
     31.3% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     5.4% down from the high of 4,607.07 on 07/27/2023.
     14.9% up from the low of 3,794.33 on 01/03/2023.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

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

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  33,840  33,951  34,057  34,168  34,274 
Weekly  31,961  33,011  33,587  34,637  35,214 
Monthly  31,681  32,871  33,517  34,708  35,354 
S&P500 (^GSPC): Daily  4,316  4,337  4,355  4,377  4,395 
Weekly  4,048  4,203  4,288  4,444  4,529 
Monthly  3,995  4,177  4,285  4,467  4,575 
Nasdaq (^IXIC): Daily  13,272  13,375  13,448  13,551  13,623 
Weekly  12,401  12,940  13,230  13,769  14,059 
Monthly  12,075  12,777  13,245  13,947  14,416 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

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

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

Here's a symbol list of 291 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ANF, ABM, ACN, AYI, ADTN, AES, AFL, APD, AKAM, AEE, AEO, AXP, AMWD, APH, ANIK, ATR, ARCB, AWI, AVY, AVA, AZTA, BCPC, BSET, BECN, BZH, BERY, BIO, BIIB, BKH, BA, BAH, BRC, BCO, BLDR, CE, CF, CRL, CIEN, CLNE, CLF, CNO, CNX, CAG, CSGP, COTY, CTS, DDS, DFS, DSGR, ^DJU, ^DJT, ^DJI, DOV, DRQ, BOOM, EMN, ECL, EME, EMR, WIRE, EFX, EVRG, EZPW, FICO, FIS, FISV, FLEX, FLS, FTNT, IT, GNW, GILD, GMS, GS, GGG, GFF, GES, HBI, HE, HAYN, HON, DHI, HWM, HUM, ILMN, IBP, PODD, ITGR, TILE, IPG, IRM, JBLU, KBH, KMT, KMB, KLAC, KSS, LHX, LZB, LH, LDOS, LEN, RAMP, LPLA, MHO, M, MAN, MCHX, MAS, MA, MTRN, MDC, MDT, MU, MLKN, MCO, MS, MLI, ^IXIC, NTGR, NJR, NXGN, NUS, OGE, OMCL, OMC, OUT, OMI, OXM, PKG, PDCO, PCTY, PRFT, PNW, POR, PPG, PINC, PGR, PHM, PSTG, QTWO, DGX, RJF, RGS, ROL, ROP, ROST, ^GSPC, SBH, SCHW, SEIC, SIGI, SRE, SHW, SLGN, STR, SKYW, SWX, SWN, SR, SCS, TGT, TPX, TER, TXN, TXT, TTD, TKR, TJX, TOL, TDG, TZOO, TREX, UHAL, UGI, V, WU, WLK, WEX, WMB, WWD, ZBRA, ITA, IYM, IAI, IYK, IYC, ITB, IHE, IDU, DDM, FXL, FXI, BOTZ, QQQ, ICF, IYH, IAT, IYZ, IEV, MXI, ILF, SOXX, SLV, IYF, IHI, EWA, EWO, EWK, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, THD, EWU, QLD, IBB, PPA, DBA, PBE, PEJ, PJP, PHO, SSO, ROBO, XLY, XLF, GLD, XLV, XHB, XLI, XLB, XRT, SPY, XAR, XLU, SMH, VHT, VIS, VAW, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

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

This WeekLast Week
1. Petroleum (Producing)1. Petroleum (Producing)
2. Computer Software and Svcs2. Semiconductor
3. Semiconductor Cap Equip.3. Computer Software and Svcs
4. Semiconductor4. Semiconductor Cap Equip.
5. E-Commerce5. Oilfield Svcs/Equipment
6. Insurance (Life)6. E-Commerce
7. Oilfield Svcs/Equipment7. Cement and Aggregates
8. Homebuilding8. Insurance (Life)
9. IT Services9. Internet
10. Building Materials10. Short ETFs
Best Performing AboveWorst Performing Below
50. Chemical (Diversified)50. Securities Brokerage
51. Short ETFs51. Electric Utility (Central)
52. Electric Utility (East)52. Precision Instrument
53. Electric Utility (Central)53. Household Products
54. Precision Instrument54. Electric Utility (East)
55. Metal Fabricating55. Advertising
56. Household Products56. Metal Fabricating
57. Electric Utility (West)57. Electric Utility (West)
58. Food Processing58. Food Processing
59. Toiletries/Cosmetics59. Medical Supplies
60. Medical Supplies60. Toiletries/Cosmetics

-- Thomas Bulkowski

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Friday 11/3/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 242 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, AYI, ADBE, AEIS, AES, AKAM, ALK, ALGT, AYX, AEE, AEP, AXP, AIG, APH, ANIK, AMAT, ATR, ARCB, AWI, ARW, BCPC, BSET, BECN, BZH, BERY, BKH, BKNG, BRC, BRKR, CLS, CX, COR, CDAY, CHS, CHD, CINF, CLNE, CLF, CROX, CCRN, CTS, XRAY, DFS, DSGR, ^DJT, ^DJI, EXP, EME, WIRE, EQT, EL, EVRG, EXPI, EZPW, FDS, FARO, FIS, FLEX, FWRD, GPS, GIS, GNW, GILD, GPN, GMS, GOOGL, GGG, GFF, HBI, HAYN, HQY, HP, HSIC, HNI, HD, DHI, HOV, HWM, HUM, HURC, IEX, IBP, ITGR, ISRG, IRM, JNJ, KBH, KELYA, KEYS, KLAC, KSS, LHX, LANC, LEN, LNC, LMT, LOW, MHO, MANH, MCHX, MAS, MDC, MGEE, MCO, MLI, ^IXIC, NTAP, NJR, NEWR, NEU, NEE, NXGN, NWPX, NUS, OMCL, ASGN, ON, OR, OUT, PKG, PATK, PYPL, PEN, PLXS, PG, PHM, QTWO, KWR, RNG, ROK, ROL, RES, R, ^GSPC, CRM, SBH, SEE, SRE, SCI, NOW, STR, SKYW, SWN, SPSC, SXI, SCS, TPR, TDY, TFX, TXN, TTD, TOL, TDG, TREX, SLCA, UIS, UNM, VEEV, VRSN, V, WAT, WSO, WLK, WEX, WMB, WSC, WWD, ITA, IAI, IYC, ITB, DDM, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, ICF, IYH, IAT, IYZ, IEV, IGV, IXN, ILF, IYF, IHI, EWA, EWO, EWK, EWZ, EWQ, EWG, EWH, EIS, EWI, EWJ, EWW, EPP, EWY, EWP, EWL, EWT, QLD, PPA, DBA, PBE, PEJ, PHO, SSO, XLY, XLF, XHB, XLI, SPY, XAR, XLK, VIS, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
MMMHead-and-shoulders bottom      10/06/202310/27/2023Diversified Co.
ADBEPipe top      10/09/202310/16/2023Computer Software and Svcs
ALRMDouble Top, Adam and Eve      08/11/202309/25/2023Computer Software and Svcs
AEOTriangle, ascending      10/12/202311/02/2023Apparel
AXPDouble Bottom, Adam and Adam      10/23/202310/27/2023Financial Services
AIGThree Rising Valleys      08/22/202310/23/2023Insurance (Prop/Casualty)
ARUgly double bottom      10/04/202310/26/2023Natural Gas (Diversified)
ARCBPipe bottom      10/16/202310/23/2023Trucking/Transp. Leasing
AVADouble Bottom, Eve and Eve      10/03/202310/23/2023Electric Utility (West)
AXSHead-and-shoulders top      09/20/202311/02/2023Insurance (Prop/Casualty)
BSETUgly double bottom      09/29/202310/16/2023Furn/Home Furnishings
CXTriangle, symmetrical      09/29/202311/01/2023Cement and Aggregates
CFTriple top      09/26/202310/10/2023Chemical (Basic)
CLFPipe bottom      10/16/202310/23/2023Metals and Mining (Div.)
CCRNDead-cat bounce      11/02/202311/02/2023Human Resources
WIREHead-and-shoulders top      09/29/202310/17/2023Metals and Mining (Div.)
ELDead-cat bounce      11/01/202311/01/2023Toiletries/Cosmetics
EXCUgly double bottom      10/03/202310/23/2023Electric Utility (East)
FEUgly double bottom      10/03/202310/23/2023Electric Utility (East)
GISUgly double bottom      10/06/202310/30/2023Food Processing
HQYDouble Top, Adam and Eve      09/28/202310/13/2023Healthcare Information
IDAHead-and-shoulders complex bottom      08/21/202310/31/2023Electric Utility (West)
ITGRPipe bottom      10/16/202310/23/2023Electronics
TILEHead-and-shoulders complex top      09/14/202310/05/2023Furn/Home Furnishings
KLICDouble Bottom, Adam and Adam      10/25/202311/01/2023Semiconductor Cap Equip.
LDOSHead-and-shoulders bottom      09/26/202310/27/2023IT Services
LLYPipe top      10/09/202310/16/2023Drug
LMTUgly double bottom      10/06/202310/27/2023Aerospace/Defense
MHOPipe bottom      10/16/202310/23/2023Homebuilding
MGEEUgly double bottom      10/03/202310/25/2023Electric Utility (Central)
OMCTriangle, symmetrical      10/04/202311/01/2023Advertising
ONDead-cat bounce      10/30/202310/30/2023Semiconductor
PANWPipe top      10/09/202310/16/2023Computer Software and Svcs
PKETriangle, symmetrical      10/06/202310/31/2023Chemical (Specialty)
PATKTriple bottom      10/09/202310/26/2023Retail Building Supply
PETSDead-cat bounce      10/31/202310/31/2023Medical Services
PCGPipe bottom      10/02/202310/09/2023Electric Utility (West)
PEGUgly double bottom      10/03/202310/23/2023Electric Utility (East)
SBHPipe bottom      10/09/202310/16/2023Toiletries/Cosmetics
SIGIDiamond top      09/25/202311/01/2023Insurance (Prop/Casualty)
SREUgly double bottom      10/03/202310/23/2023Electric Utility (West)
SHWDouble Bottom, Adam and Adam      10/24/202310/30/2023Chemical (Basic)
TRGPUgly double bottom      10/05/202310/30/2023Natural Gas (Diversified)
TEVADouble Bottom, Adam and Adam      10/23/202310/27/2023Drug
VTriple bottom      09/27/202310/27/2023Financial Services
WRBThree Rising Valleys      08/23/202310/23/2023Insurance (Prop/Casualty)
WPMDiamond top      10/17/202311/02/2023Metals and Mining (Div.)
FDNTriple top      07/19/202309/11/2023Internet
SOXXHead-and-shoulders complex top      06/14/202309/05/2023Semiconductor

 

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Thursday 11/2/23. Intraday Market Direction: Nasdaq

The Nasdaq climbed by 1.6% or 210.23 points. Since 02/05/1971 the Nasdaq made 100 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 52 occasions.
     Average loss was -1.2% on 48 occasions.
Expect the Nasdaq to close higher 52.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 264/471 or 56.1% of the time.
     The prediction of the Nasdaq closing lower has been right 74/155 or 47.7% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

The red lines show a V-bottom. Notice that it took price 1.5 days to drop and 4.5 days to recover and it hasn't quite made it back to where it started from, at about 13,150 (Tuesday's close).

It's no surprise that price drops twice as fast (or more) than it rises.

The blue line is overhead resistance. We might see one more day of rising prices but after that, I think we'll see a pause to mirror what we see on the left part of the V (where the blue line is).

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Here's a symbol list of 142 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACN, AYI, ADBE, AEIS, AA, ALGT, AYX, AMZN, AEO, AEP, AME, APH, ARCB, ADM, AGO, ADP, AVA, BALL, BZH, BERY, BIG, BA, BAH, BRC, BFH, BMY, CDNS, CALM, CE, CHKP, CLF, CMTL, COP, CRH, CTS, DSGR, EME, WIRE, EOG, EL, EVRG, EZPW, FLEX, FMC, FTNT, FDP, GIS, GNW, GILD, GL, GGG, HBI, HQY, HP, HOV, HUN, HURC, IDA, IEX, ITW, INCY, IIIN, ITGR, TILE, JKHY, KALU, KMT, LANC, LDOS, RAMP, LPLA, MHO, MRO, MCHX, MLM, MTRN, MTRX, META, MGEE, MU, MSFT, ^IXIC, NOV, NFLX, NWL, NEE, NOC, NUS, OXY, OMC, ORCL, OXM, PKG, PTEN, PAYX, PXD, REGN, RGS, RGA, ROK, ROL, ^GSPC, SCI, SHOP, STR, SKYW, SSYS, TDY, TKR, SLCA, VFC, VRSN, WSO, WEX, WMB, WWW, FTEC, QQQ, IYZ, IXN, ILF, SOXX, EWQ, EIS, EWJ, QLD, IBB, PXJ, SSO, ROBO, XLE, SPY, XLK, SMH, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

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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

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  11,936.21    
 Weekly S2  12,298.71  362.50   
 Monthly S1  12,498.84  200.13   
 Weekly S1  12,680.09  181.25   
 Daily S2  12,805.81  125.72   
 Low  12,875.20  69.39   
 Open  12,887.06  11.86   Yes! The Open is close to the Low.
 Weekly Pivot  12,925.24  38.18   
 Daily S1  12,933.64  8.40   Yes! The Daily S1 is close to the Weekly Pivot.
 61.8% Down from Intraday High  12,950.54  16.90   Yes! The 61.8% Down from Intraday High is close to the Daily S1.
 50% Down from Intraday High  12,973.81  23.27   
 38.2% Down from Intraday High  12,997.08  23.27   
 Daily Pivot  13,003.03  5.95   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  13,061.47  58.44   
 High  13,072.42  10.95   Yes! The High is close to the Close.
 Monthly Pivot  13,106.49  34.07   
 Daily R1  13,130.86  24.37   
 Daily R2  13,200.25  69.39   
 Weekly R1  13,306.62  106.37   
 Weekly R2  13,551.77  245.15   
 Monthly R1  13,669.12  117.35   
 Monthly R2  14,276.77  607.65   

Wednesday 11/1/23. 2023 Forecast Update

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

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I released new research about detecting a large drop after price peaks. See Monthly candles

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Here's a symbol list of 69 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: A, ALGT, ALL, AEO, AEL, AFG, AMGN, ARCB, AGO, AVA, BSET, BECN, BZH, BERY, BA, BRC, BG, CNP, CLF, CMTL, DHR, DSGR, EME, WIRE, EXPI, FICO, FLEX, FMC, FWRD, GGG, HBI, HLIT, HQY, ITGR, IPI, NVTA, JBLU, K, KFRC, KSS, MHO, MCHX, NEU, NEE, NXGN, JWN, OMC, ON, PKG, PTEN, PETS, PFE, ROL, SKYW, SCS, SSYS, SLCA, IEZ, FXL, IHI, EWK, EWJ, PHO, ROBO. 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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