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

September 2023 Headlines

Archives


Friday 9/29/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, ACN, AYI, AES, ALGT, ALL, AYX, AEO, APOG, AAPL, ADM, AVA, BERY, BAH, BRC, CAL, CLS, CNP, CHKP, CHS, CHD, CIEN, CTAS, CNX, CTSH, CMTL, COST, CTS, BOOM, EVH, FICO, FE, FLEX, FORM, FWRD, GME, GD, GNW, GS, HUN, ITW, INFN, IRM, JNJ, LZB, MTRX, MLKN, MS, NBR, NTGR, NTAP, NEE, NOC, NOVT, PDCO, PAYX, PNW, PINC, DGX, RCKY, ROG, R, SEIC, SIGI, SRE, STR, SKX, SWX, TDY, TPX, TMO, TRV, TREX, UNH, UNM, VFC, VLO, WU, WDAY, FXI, IYZ, MXI, ILF, SLV, EWK, EWZ, ECH, EWM, EWW, EWP, EWT, 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.

$ $ $

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
AEISHead-and-shoulders top      07/18/202309/01/2023Semiconductor
APOGDouble Top, Adam and Adam      09/01/202309/19/2023Building Materials
AAPLPipe top      08/28/202309/05/2023Computers and Peripherals
ARCBTriangle, symmetrical      09/12/202309/28/2023Trucking/Transp. Leasing
AVAPipe top      09/11/202309/18/2023Electric Utility (West)
BGTriple top      08/07/202309/14/2023Food Processing
CNPPipe top      09/11/202309/18/2023Electric Utility (Central)
CTASPipe top      09/11/202309/18/2023Industrial Services
CTSHDouble Top, Adam and Eve      08/07/202309/01/2023IT Services
CLTriangle, symmetrical      09/06/202309/21/2023Household Products
CRTriangle, symmetrical      07/28/202309/28/2023Diversified Co.
EMRDouble Top, Adam and Adam      09/12/202309/18/2023Computers and Peripherals
FTVDouble Top, Eve and Eve      08/10/202309/01/2023Industrial Services
FNVDouble Top, Eve and Eve      09/01/202309/15/2023Metals and Mining (Div.)
FCXDouble Top, Adam and Adam      09/01/202309/14/2023Metals and Mining (Div.)
GPNDouble Top, Adam and Adam      08/10/202309/01/2023Computer Software and Svcs
GSPipe top      09/11/202309/18/2023Securities Brokerage
HSICBroadening bottom      09/06/202309/25/2023Medical Supplies
HOLXDouble Top, Adam and Adam      08/23/202308/30/2023Medical Supplies
LRCXDouble Top, Eve and Eve      07/31/202309/01/2023Semiconductor Cap Equip.
LDOSDouble Top, Adam and Adam      08/01/202309/01/2023IT Services
LOWDouble Top, Eve and Eve      07/27/202309/07/2023Retail Building Supply
MANHHead-and-shoulders top      08/31/202309/20/2023IT Services
MKTXDiamond bottom      09/07/202309/20/2023Securities Brokerage
MTRXFlag, high and tight      08/17/202309/28/2023Oilfield Svcs/Equipment
MOSDouble Top, Adam and Adam      09/05/202309/20/2023Chemical (Diversified)
MLIDouble Bottom, Eve and Eve      09/13/202309/21/2023Metal Fabricating
PATKHead-and-shoulders top      07/18/202308/07/2023Retail Building Supply
PENPipe top      09/05/202309/11/2023Medical Supplies
PSTGBroadening top      06/16/202309/26/2023Computers and Peripherals
QTWODouble Top, Eve and Adam      08/01/202308/31/2023E-Commerce
QCOMDiamond bottom      08/18/202309/25/2023Telecom. Equipment
CRMDouble Top, Adam and Eve      08/31/202309/11/2023E-Commerce
SCHWDouble Top, Adam and Adam      09/05/202309/12/2023Securities Brokerage
SCCORoof      08/18/202309/20/2023Metals and Mining (Div.)
SRDXTriple top      08/18/202309/11/2023Medical Supplies
SNPSMulti-peaks      05/30/202309/28/2023Computer Software and Svcs
TRGPDouble Bottom, Adam and Adam      09/11/202309/21/2023Natural Gas (Diversified)
TDOCPipe top      07/24/202307/31/2023Healthcare Information
VLODiamond top      09/12/202309/28/2023Petroleum (Integrated)
WSODouble Bottom, Adam and Adam      08/18/202309/13/2023Retail Building Supply

 

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Thursday 9/28/23. Bitcoin (BTC-USD) Resistance Ahead

The Nasdaq climbed by 0.2% or 29.24 points. Since 02/05/1971 the Nasdaq made 711 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 411 occasions.
     Average loss was -0.8% on 300 occasions.
Expect the Nasdaq to close higher 57.8% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 263/466 or 56.4% 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 bitcoin.

$ $ $

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

I didn't see much to write about on this chart. I drew a red trendline along the peaks to see where resistance might impede the currency from rising.

As the chart shows, the red line is likely to block much of a gain in the currency, at least in the short term. That's my view, anyway.

I've been wary about this setup going back more than a decade where I avoided buying Southwest Airlines because of the same overhead resistance. I made the right call because price touched the line and the stock dropped.

$ $ $

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, ADTN, AEIS, ALKS, AMWD, AAPL, ATR, AVA, BAX, BERY, BSX, BFH, BRKR, CALM, CNP, CENX, CF, CVX, CHD, CIEN, CTAS, CSCO, CNX, CTSH, CXW, GLW, COTY, CRH, CCK, DFS, DOV, DRQ, EBAY, EMR, EOG, EZPW, FFIV, FLEX, FORM, FNV, FCX, GS, GOOGL, GES, THG, HIG, HSIC, HNI, HOLX, DHI, IEX, ITW, ILMN, NSP, PODD, IRM, JAZZ, JNJ, KMB, LMT, LOW, MTSI, M, MTDR, MDT, MRK, MU, MCO, MS, MOS, MLI, MUR, NBR, NTGR, NEE, NKE, NOVT, NUS, NTNX, OGE, ORI, OMCL, ASGN, ORCL, PKE, PDCO, PAYX, PYPL, PEN, PETS, PCG, PXD, PLXS, DGX, RRC, RCKY, ROG, ROST, RGLD, SAND, SIGI, SCI, SHOP, SXI, TDY, TJX, TOL, RIG, TG, TREX, TWLO, SLCA, VFC, WMT, WSO, WPM, WWW, IYM, IAI, IYK, ITB, IHE, IDU, FXL, ICF, IAT, IYZ, ILF, SLV, EWO, EWK, EWZ, EWC, ECH, EEM, EWG, EIS, EWJ, EWM, EWS, EZA, EWY, EWL, EWT, THD, EWU, ROBO, GLD, XLI, 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

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© 2023 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  12,480.22    
 Monthly S1  12,786.53  306.32   
 Weekly S2  12,797.62  11.08   Yes! The Weekly S2 is close to the Monthly S1.
 Daily S2  12,877.58  79.97   
 Weekly S1  12,945.23  67.65   
 Low  12,963.16  17.93   Yes! The Low is close to the Weekly S1.
 Daily S1  12,985.22  22.06   
 61.8% Down from Intraday High  13,036.97  51.75   
 50% Down from Intraday High  13,059.76  22.80   
 Daily Pivot  13,070.79  11.03   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  13,082.56  11.77   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  13,092.85  10.29   Yes! The Close is close to the 38.2% Down from Intraday High.
 Open  13,115.36  22.51   
 High  13,156.37  41.01   
 Daily R1  13,178.43  22.06   
 Daily R2  13,264.00  85.58   
 Weekly Pivot  13,348.26  84.25   
 Monthly Pivot  13,468.08  119.82   
 Weekly R1  13,495.87  27.80   
 Monthly R1  13,774.39  278.52   
 Weekly R2  13,898.90  124.50   
 Monthly R2  14,455.94  557.04   

Wednesday 9/27/23. 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.

The index has plunged, or I should say, it has continued to plunge.

The vertical red bar on the far right of the chart is the sell signal. It joins with a prior bearish signal to indicate a move lower. Now, it seems the index is in free-fall.

To put a positive spin on this drop, it's a buying opportunity.

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 37%.
The fewest was 26% on 07/31/2023.
And the most was 77% on 09/30/2022.
Shown as a blue line on the above chart...
The 522 stocks in my database are down an average of 21% from their yearly high.
A week ago, the average was 19%.
The peak was 14% on 07/31/2023.
And the bottom was 34% on 09/30/2022.

Both the red and blue lines are lower today than they were a week ago. Although things look bad, I am expecting a quick V-shaped turn higher. I don't know when that will happen, but I believe it will happen.

I reiterate that this drop is a buy-the-dip opportunity. I don't know if we'll be buying too soon, so the entry is high risk. Let me also say that bottoms tend to be V-shaped and tops are more rounded looking. That's hard to see from the charts but it's true. It's also true that price drops at least twice as fast as it rises.

The word on the street today (Tuesday) is that interest rates are making traders nervous. I read a report from a large consulting firm that said interest rates will remain where they are until the middle of next year. After that, they'll decline. I also heard some say that they expect one more interest rate increase before year end (2023).

Regardless of which view is correct, the end of interest rate increases is a lot closer now than when all of this started. So in a year or so, we should see interest rates start to drop. That will propel the markets higher. So collect your cash and be prepared to nibble as the market drops. That's what I have been doing and will continue to do.

$ $ $

Here's a symbol list of 172 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ALB, AA, APA, APOG, AAPL, AVNT, AVA, AZTA, BAX, BERY, BIIB, BAH, BFH, BCO, BRKR, CACI, CPB, CNP, CDAY, CIEN, CTAS, CSCO, CTSH, CAG, GLW, CCK, CW, EMR, FFIV, FISV, FLEX, FORM, FNV, FCX, GE, GS, HBI, HSIC, DHI, JBHT, IDA, ITW, NSP, IBKR, IRM, KALU, KEYS, LANC, RAMP, LMT, LOW, MGY, MKTX, MAS, MTDR, MDT, MU, MLKN, MCO, MS, MOS, NBR, NTGR, NEWR, NWL, NEU, NUS, OXY, OMCL, ON, ORCL, PKE, PDCO, PAYX, PETS, PCG, PFG, PG, QTWO, RL, RRC, RCKY, ROG, ROL, SAND, SAIC, SMG, SIGI, SCI, SHOP, SCCO, LUV, SPLK, SXI, SRDX, TFX, TPX, TTD, TJX, TZOO, UHAL, SLCA, WPM, WSC, WWW, IYM, IAI, IYK, IYE, ITB, IHE, IDU, FXL, ICF, IYH, IHF, IAT, IYZ, ILF, SLV, EWO, EWK, EWZ, EEM, EWG, EWH, EIS, EWJ, EWW, EZA, EWY, EWP, EWL, THD, TUR, DBA, SSO, ROBO, XLP, GLD, XLV, XHB, XLI, SPY, UNG, USO, VIS, VAW, 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 9/26/23. Slider Trading Quiz!

The Dow climbed by 0.1% or 43.04 points. Since 10/01/1928 the Dow made 1401 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.5% on 719 occasions.
     Average loss was -0.6% on 682 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 271/494 or 54.9% of the time.
     The prediction of the Dow closing lower has been right 51/108 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring ascending scallops.

$ $ $

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: AXDX, ATSG, ALB, AA, ALL, AEE, AR, APA, APOG, AGO, AVY, AVNT, AZTA, BAX, BZH, BIG, BIIB, BOOT, BAH, BFH, BCO, BR, BRKR, BBW, CBT, CACI, CALM, CLS, CENX, CIEN, CLNE, CNO, COTY, CCRN, CCK, CSGS, BOOM, EBAY, ECL, EIX, EOG, FAST, FDX, FE, FISV, FORM, FWRD, FNV, FCX, GE, GNW, GPN, GL, HBI, HE, DHI, NSP, IIIN, IPAR, TILE, IPI, IRM, JNJ, KELYA, KMT, KEYS, LHX, LZB, MHO, MKTX, MU, MLKN, MOS, MYGN, NOV, NTGR, NWL, NI, NWPX, NUS, OXY, OTEX, PKE, PAYX, PEN, PETS, PPL, PFG, PG, QTWO, RL, ROST, R, ^GSPC, SAIA, SAND, SMG, SKX, SCCO, LUV, SRDX, TFX, TPX, TEVA, TXT, TTD, TDG, TG, UIS, UNH, UNM, WAT, WSM, IYM, IYK, IHE, DDM, FXI, IYH, IAT, IYZ, IEV, MXI, ILF, IEO, EWO, EWK, EWZ, EWQ, EWG, EWI, EWJ, EWP, EWD, EWL, TUR, EWU, QLD, IBB, DBA, SSO, XLP, XLE, XLV, XHB, XLI, SPY, XLU, VHT, VIS, VAW, 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 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  33,218.47    
 Weekly S2  33,414.43  195.95   
 Monthly S1  33,612.68  198.25   
 Daily S2  33,698.17  85.49   
 Weekly S1  33,710.65  12.48   Yes! The Weekly S1 is close to the Daily S2.
 Low  33,780.67  70.02   
 Daily S1  33,852.52  71.85   
 61.8% Down from Intraday High  33,871.15  18.63   Yes! The 61.8% Down from Intraday High is close to the Daily S1.
 50% Down from Intraday High  33,899.10  27.95   
 Open  33,907.59  8.49   Yes! The Open is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  33,927.05  19.46   Yes! The 38.2% Down from Intraday High is close to the Open.
 Daily Pivot  33,935.03  7.98   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  34,006.88  71.85   
 High  34,017.53  10.65   Yes! The High is close to the Close.
 Daily R1  34,089.38  71.85   
 Daily R2  34,171.89  82.50   
 Weekly Pivot  34,243.46  71.58   
 Monthly Pivot  34,341.44  97.98   
 Weekly R1  34,539.70  198.25   
 Monthly R1  34,735.65  195.95   
 Weekly R2  35,072.51  336.86   
 Monthly R2  35,464.41  391.91   

Monday 9/25/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

Shown is a chart of the Dow utilities on the daily scale.

Let's start with the chart pattern on the far left of the chart. It's a weird looking head-and-shoulders top. That's a chart pattern with a centrally-located head above and straddling two shoulders. In this example, the left shoulder is uncomfortably above the right shoulder. The unbalance is so remarkable that I'm tempted to call it a double top (LH).

Regardless of what you call it, the drop after the topping pattern proved significant.

More recent is the inverted variety of the head-and-shoulders, labeled here as LS, Head, and RS. In this example, the right shoulder (RS) hasn't completed. By that, I mean the index could drop more instead of forming a valley.

I'm expecting more of a decline on RS.

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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 6.06 points.
Tuesday: Down 106.57 points.
Wednesday: Down 76.85 points.
Thursday: Down 370.46 points.
Friday: Down 106.58 points.

For the Week...

The Dow industrials were down 654.4 points or 1.9%.
The Nasdaq composite was down 496.52 points or 3.6%.
The S&P 500 index was down 130.26 points or 2.9%.

Year to Date...

Dow Industrials
     4.8% down from the high of 35,679.13 on 08/01/2023.
     8.1% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     8.5% down from the high of 14,446.55 on 07/19/2023.
     28.7% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     6.2% down from the high of 4,607.07 on 07/27/2023.
     13.9% 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  33,816  33,890  34,021  34,096  34,227 
Weekly  33,400  33,682  34,229  34,511  35,058 
Monthly  33,204  33,584  34,327  34,707  35,450 
S&P500 (^GSPC): Daily  4,290  4,305  4,331  4,346  4,372 
Weekly  4,218  4,269  4,368  4,419  4,518 
Monthly  4,168  4,244  4,393  4,469  4,617 
Nasdaq (^IXIC): Daily  13,103  13,157  13,255  13,310  13,408 
Weekly  12,837  13,025  13,388  13,575  13,939 
Monthly  12,520  12,866  13,508  13,854  14,496 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 303 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ATVI, ADBE, AEIS, AMD, AES, ATSG, AKAM, ALL, AMZN, AMED, AXP, APH, AWI, AIZ, ADSK, AVNT, AXS, AZTA, BMI, BSET, BERY, BBY, BIG, BIO, BIIB, BKH, BOOT, BFH, BCO, BRKR, BLDR, CBT, CPB, CX, CDAY, CVX, CHS, CIEN, CTAS, CNO, CXW, GLW, CSGP, COTY, CCK, CTS, DHR, XRAY, DFS, ^DJI, D, DOV, BOOM, EXP, EMN, EBAY, ECL, EIX, EMR, EFX, EVH, EXPI, FICO, FARO, FIS, FE, FISV, FORM, FWRD, FCX, IT, GE, GNW, GPN, GMS, GS, GOOGL, GES, HBI, HLIT, HE, HTLD, HL, HOLX, HD, DHI, HOV, HWM, HUBG, JBHT, HUN, IEX, IDXX, ILMN, IBP, IIIN, PODD, INTC, IPAR, TILE, NVTA, JNJ, KBH, KMT, KEYS, LHX, LZB, LNC, RAMP, LMT, LOW, MAN, MAS, MA, MDC, MDT, MGEE, MU, MSFT, MLKN, MCO, MS, MOS, MYGN, ^IXIC, NTGR, NWL, NKE, NI, JWN, NWPX, NOVT, NUS, OLN, OMCL, OR, OUT, OXM, PANW, PATK, PAYX, PCTY, PYPL, PEN, PNW, PPL, PFG, PRU, PHM, PSTG, QTWO, RL, RJF, RGA, RCKY, ROG, ROST, ^GSPC, SAIA, CRM, SCHW, SAIC, SEE, SHW, SHOP, SCCO, SR, SPLK, SPSC, SUM, TPR, TGT, TDOC, TPX, TXN, TTD, TOL, TG, UHAL, UNH, UNM, VEEV, V, WAT, WSO, WLK, WSC, ZBRA, ITA, IYM, IAI, IYC, ITB, IHE, IDU, DDM, FTEC, FDN, FXL, ICF, IYH, IAT, IYZ, IEV, IGV, MXI, ILF, SLV, IYF, IHI, EWA, EWO, EWK, EWZ, EWC, ECH, EWQ, EWG, EWI, EWM, EWW, EPP, EWS, EZA, EWP, EWD, EWL, EWU, IBB, PPA, DBA, PBE, PEJ, PJP, PHO, SSO, ROBO, XLY, XLF, XLV, XHB, XLI, XLB, XRT, SPY, XAR, XLK, XLU, 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. Homebuilding1. Homebuilding
2. Oilfield Svcs/Equipment2. Internet
3. Insurance (Life)3. Petroleum (Producing)
4. Petroleum (Producing)4. Cement and Aggregates
5. Cement and Aggregates5. Oilfield Svcs/Equipment
6. Internet6. Computer Software and Svcs
7. E-Commerce7. E-Commerce
8. Computer Software and Svcs8. Semiconductor
9. Insurance (Diversified)9. Petroleum (Integrated)
10. Building Materials10. IT Services
Best Performing AboveWorst Performing Below
50. Human Resources50. Electric Utility (East)
51. Precision Instrument51. Electric Utility (Central)
52. Advertising52. Human Resources
53. Electric Utility (West)53. Furn/Home Furnishings
54. Securities Brokerage54. Metal Fabricating
55. Metal Fabricating55. Medical Supplies
56. Food Processing56. Electric Utility (West)
57. Medical Supplies57. Food Processing
58. Short ETFs58. Telecom. Equipment
59. Telecom. Equipment59. Short ETFs
60. Toiletries/Cosmetics60. Toiletries/Cosmetics

-- Thomas Bulkowski

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Friday 9/22/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 371 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ANF, AXDX, AYI, ADTN, AMD, AES, ALB, AA, ALL, AYX, AMZN, AMED, AEL, AXP, APH, APOG, AAPL, ATR, ANET, AGO, ADSK, ADP, AVNT, AZTA, BMI, BCPC, BSET, BECN, BZH, BERY, BIO, BKH, BKNG, BOOT, BRC, BCO, BMY, BRKR, BLDR, CBT, CACI, CDNS, CE, CLS, CDAY, CIEN, CINF, CTAS, CSCO, CNO, CGNX, CTSH, CL, GLW, COTY, CROX, CCRN, CTS, CW, XRAY, DSGR, ^DJI, DOV, DRQ, BOOM, EXP, EMN, EMR, EFX, EL, EXPD, EZPW, FARO, FISV, FTV, FCX, GME, IT, GE, GNW, GPN, GMS, GOOGL, GGG, HBI, HAYN, HQY, HTLD, HNI, HOLX, HD, HON, DHI, HOV, HWM, HUN, IEX, ITW, ILMN, INFN, NSP, IBP, IIIN, PODD, ITGR, INTC, IPAR, TILE, INTU, ISRG, NVTA, IRM, KALU, KELYA, KMT, KLAC, LHX, LEG, LEN, LLY, LNC, LMT, LOW, MHO, MAS, MA, MDC, MU, MLKN, MCO, MOS, MYGN, ^IXIC, NOV, NEWR, NWL, NEE, NKE, NWPX, NOVT, NUS, NVDA, ORI, OLN, OMCL, OMC, ON, OTEX, OUT, PANW, PKE, PATK, PAYX, PCTY, PYPL, PEN, PETS, PNW, PPG, PHM, PSTG, QTWO, KWR, QCOM, RL, RJF, RNG, ROK, RCKY, ROG, ROL, ROST, ^GSPC, CRM, SAND, SCHW, SAIC, SEE, SCI, NOW, SHOP, SLGN, SCCO, SR, SPSC, SCS, SRDX, SNPS, TPR, TRGP, TGT, TDOC, TDY, TFX, TPX, TTD, TMO, TKR, TOL, TSCO, TDG, RIG, TG, TREX, TWLO, UHAL, VMI, VEEV, V, VMC, WMT, WAT, WLK, WMB, WOLF, WWD, WDAY, ZBRA, ITA, IYM, IYK, IYC, ITB, IHE, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, ICF, IYH, IAT, IYZ, IGV, MXI, IXN, SOXX, IYF, IHI, EWZ, EWC, ECH, EEM, EWG, EWH, EIS, EWJ, EWM, EPP, EWS, EWY, EWL, EWT, THD, QLD, IBB, PPA, DBA, PBE, PEJ, PJP, PHO, SSO, ROBO, XLY, XLV, XHB, XLI, XLB, XRT, SPY, XAR, XLK, XLU, UNG, 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
AATriangle, symmetrical      08/25/202309/21/2023Aerospace/Defense
ALKSPipe bottom      08/21/202308/28/2023Drug
AMZNDouble Top, Adam and Adam      08/04/202309/14/2023Internet
APADouble Top, Eve and Adam      08/11/202309/05/2023Petroleum (Producing)
ATRPipe top      08/28/202309/05/2023Packaging and Container
ADPTriple top      07/27/202309/01/2023IT Services
AVADouble Bottom, Eve and Adam      08/24/202309/05/2023Electric Utility (West)
BCODouble Top, Adam and Eve      08/30/202309/15/2023Industrial Services
BLDRHead-and-shoulders top      07/19/202309/01/2023Retail Building Supply
CORDouble Bottom, Adam and Adam      09/06/202309/12/2023Biotechnology
CDAYDouble Top, Eve and Eve      08/09/202309/12/2023Information Services
CTASCup with handle      07/26/202309/14/2023Industrial Services
CLDouble Top, Eve and Adam      06/20/202307/27/2023Household Products
COTYTriangle, symmetrical      08/10/202309/14/2023Toiletries/Cosmetics
DVNDouble Top, Eve and Adam      07/31/202309/05/2023Natural Gas (Diversified)
^DJIDouble Top, Eve and Adam      08/31/202309/14/2023None
EOGDouble Top, Adam and Eve      08/04/202309/14/2023Natural Gas (Distributor)
EQTHead-and-shoulders top      08/09/202309/01/2023Natural Gas (Diversified)
FCXHead-and-shoulders complex top      06/14/202309/14/2023Metals and Mining (Div.)
IIINPipe top      09/05/202309/05/2023Building Materials
IPARPipe bottom      09/05/202309/11/2023Toiletries/Cosmetics
KLACDouble Top, Adam and Adam      07/31/202309/06/2023Semiconductor Cap Equip.
LENDouble Top, Adam and Adam      09/01/202309/11/2023Homebuilding
MHOTriple top      07/31/202308/16/2023Homebuilding
MLKNPipe bottom      09/05/202309/11/2023Furn/Home Furnishings
NOVTPipe top      08/28/202309/05/2023Precision Instrument
PKGDouble Bottom, Eve and Eve      08/24/202309/06/2023Packaging and Container
PGDiamond bottom      08/23/202309/21/2023Household Products
PHMDouble Top, Eve and Eve      07/27/202308/08/2023Homebuilding
RRCTriple top      08/09/202309/14/2023Petroleum (Producing)
RGLDPipe bottom      08/14/202308/21/2023Metals and Mining (Div.)
SAIAHead-and-shoulders top      07/31/202309/07/2023Trucking/Transp. Leasing
SHWThree Falling Peaks      07/27/202309/01/2023Chemical (Basic)
SCSTriple bottom      08/08/202309/11/2023Furn/Home Furnishings
TOLDouble Top, Eve and Adam      07/14/202309/01/2023Homebuilding
TDGPipe top      08/28/202309/05/2023Aerospace/Defense
UNHTriple bottom      09/01/202309/19/2023Medical Services
VECOPipe top      08/07/202308/14/2023Precision Instrument
WLKThree Falling Peaks      07/28/202309/18/2023Chemical (Basic)
ITBTriangle, ascending      07/20/202308/16/2023Homebuilding

 

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Thursday 9/21/23. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -1.5% or -209.06 points. Since 02/05/1971 the Nasdaq made 119 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.3% on 59 occasions.
     Average loss was -1.1% on 60 occasions.
Expect the Nasdaq to close lower 50.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 263/466 or 56.4% of the time.
     The prediction of the Nasdaq closing lower has been right 73/154 or 47.4% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

Not much movement except downward appears on the chart.

I show the downtrend with the red trendline.

Notice that at A, the index has dropped below the red line. That suggests a continued drop in the index. That's it!

$ $ $

Here's a symbol list of 239 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, ACIW, AYI, ADTN, AKAM, ALK, ALB, ALGT, ALL, AMED, AEL, AXP, AME, AMN, APH, AON, AAPL, AVNT, BMI, BAX, BZH, BIO, BKNG, BOOT, BRC, BR, BRKR, BLDR, CDNS, CE, CX, CDAY, CRL, CHS, CIEN, CTAS, CSCO, CLX, CNO, CTSH, GLW, COTY, CROX, CCRN, CSGS, CW, DSGR, BOOM, EMN, ELV, EME, EMR, EFX, EG, EXPI, XOM, FARO, FRD, GE, GNW, GMS, GS, GOOGL, HBI, HE, HQY, HSII, HOLX, DHI, HWM, ITW, IIIN, INTC, IPAR, TILE, ISRG, KBH, K, KLAC, KSS, LHX, LANC, LEN, LNC, LOW, MHO, MANH, MAN, MCHX, MAS, MDC, MU, MSFT, MLKN, MS, MOS, MLI, MYGN, NBR, ^IXIC, NFG, NFLX, NJR, NEWR, NWL, JWN, NUS, ORI, OMC, PKE, PATK, PDCO, PAYX, PCTY, PYPL, PEN, PETS, POR, PFG, PHM, PSTG, QTWO, QCOM, RTX, RGS, RNG, RLI, RCKY, ROG, ROL, ROP, RGLD, ^GSPC, SLB, SIGI, SHOP, SLGN, SMAR, SCS, SRDX, SNPS, TPR, TDOC, TDY, TPX, TER, TXN, TXT, TMO, TOL, TDG, TG, TREX, TWLO, UGI, UIS, UNH, UNM, VMI, VRSN, VRTX, WAT, WSO, WOLF, WDAY, ZBRA, ITA, IYM, IYC, ITB, FTEC, QQQ, IGV, IXN, IYF, EWA, EWO, EWH, EWI, EWM, EWS, EWY, EWP, THD, QLD, IBB, SSO, XLY, GLD, XHB, XLB, SPY, XAR, XLK, SMH, 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 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  12,605.64    
 Monthly S1  13,037.39  431.74   
 Daily S2  13,294.21  256.82   
 Daily S1  13,381.67  87.46   
 Weekly S2  13,430.32  48.65   
 Weekly S1  13,449.72  19.41   Yes! The Weekly S1 is close to the Weekly S2.
 Low  13,467.28  17.56   Yes! The Low is close to the Weekly S1.
 Close  13,469.13  1.85   Yes! The Close is close to the Low.
 Daily Pivot  13,554.74  85.61   
 61.8% Down from Intraday High  13,566.80  12.06   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 Monthly Pivot  13,593.50  26.70   
 50% Down from Intraday High  13,597.54  4.04   Yes! The 50% Down from Intraday High is close to the Monthly Pivot.
 38.2% Down from Intraday High  13,628.29  30.74   
 Daily R1  13,642.20  13.91   Yes! The Daily R1 is close to the 38.2% Down from Intraday High.
 Weekly Pivot  13,703.65  61.45   
 Open  13,710.26  6.61   Yes! The Open is close to the Weekly Pivot.
 Weekly R1  13,723.05  12.79   Yes! The Weekly R1 is close to the Open.
 High  13,727.81  4.76   Yes! The High is close to the Weekly R1.
 Daily R2  13,815.27  87.46   
 Weekly R2  13,976.98  161.71   
 Monthly R1  14,025.25  48.27   
 Monthly R2  14,581.36  556.12   

Wednesday 9/20/23. 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. Maybe it's waiting for the FED to say they are doing nothing for a while longer (in terms of raising interest rates). Their outlook might move the market.

Weakness this month is common, so the CPI showing a bearish turn is expected.

Starting last February, we saw three bearish signals in a row and you can see how far the index dropped. Will we see another drop like that? Maybe. We're already most of the way there. It would mean a drop to about 235 (right scale). I found that by using a ruler to measure the height of the Feb drop and applying it to the July peak.

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 37% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 37%.
The fewest was 26% on 07/31/2023.
And the most was 78% on 09/26/2022.
Shown as a blue line on the above chart...
The 522 stocks in my database are down an average of 19% from their yearly high.
A week ago, the average was 19%.
The peak was 14% on 07/31/2023.
And the bottom was 34% on 09/30/2022.

Note that I changed the chart from the S&P 500 to the Dow industrials. I thought that there might be some difference but there doesn't seem to be.

Both red and blue lines this week show no change from a week ago. That could be because I was playing around with the code and could have erased the prior week's results...

The red line, the more sensitive of the two, continues to trend lower from the July peak.

According to these two bearish charts, it says the retrace will continue. The FED announcement on Wednesday might change that.

$ $ $

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: ABM, ADBE, ALB, AMZN, AEO, AXP, AMGN, APH, AON, AAPL, ATR, ARCB, AVNT, AVA, AZTA, BMI, BCPC, BZH, BSX, BFH, CLS, CX, CDAY, CIEN, CTAS, CSCO, CLF, CLX, CNA, CNO, CTSH, CMTL, ED, CONN, CXW, GLW, CRH, DHR, XRAY, DSGR, DTE, BOOM, EXP, EBAY, EMR, EPAM, EQT, EG, XOM, FARO, FAST, FORM, FTV, FWRD, FNV, FCX, FRD, GME, GIS, GNW, GS, HD, HWM, HURC, ITW, ILMN, INFN, IIIN, INTC, IPAR, TILE, IPI, INTU, K, KSS, LHX, LH, RAMP, LMT, MTSI, MAS, MLKN, MS, MYGN, NBR, NFG, NJR, NOVT, NUS, OGE, OMI, PKE, PYPL, PEN, PFG, KWR, RGA, RLI, ROK, RCKY, ROG, ROP, RGLD, RES, R, SAIA, SAND, SLB, SEE, NOW, SHOP, SLGN, SRDX, TRGP, TFX, TDG, TG, SLCA, UNM, VLO, VMC, WAT, WSO, WU, WPM, WSC, ITA, IYM, IYC, IHE, FDN, ICF, IYH, IHF, MXI, IXN, EWC, EWS, EWP, EWT, THD, PXJ, PHO, SSO, XLY, XLP, GLD, XLV, XHB, XLI, XLB, SPY, XAR, XLU, UNG, VHT, VAW, 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 9/19/23. Slider Trading Quiz!

The Dow climbed by 0.0% or 6.06 points. Since 10/01/1928 the Dow made 1364 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 737 occasions.
     Average loss was -0.6% on 627 occasions.
Expect the Dow to close higher 54.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 271/493 or 55.0% of the time.
     The prediction of the Dow closing lower has been right 51/108 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring Triple tops stock.

$ $ $

Here's a symbol list of 135 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACIW, ADTN, AMD, AFL, A, APD, ALB, AMED, AEO, AXP, ANIK, AON, AAPL, ATR, AVNT, AVA, AZTA, BMI, BCPC, BSET, BZH, BBY, BIIB, BKNG, BFH, BBW, CHD, CIEN, CTAS, CLNE, CLX, CNA, CXW, CRH, CTS, CMI, EXP, EQT, EG, EZPW, FFIV, FAST, FE, FMC, FORM, FRD, GILD, GOOGL, GES, HBI, THG, HAYN, HQY, HD, HURC, INCY, IIIN, TILE, IPI, NVTA, KALU, KSS, LHX, LZB, LH, LOW, LXU, MTSI, M, MAS, MTRN, NEU, NEE, NOVT, ON, OMI, PETS, PFE, KWR, RLI, RCKY, ROG, ROL, ROP, RGLD, RES, SAIA, SBH, SAND, SEE, SKX, SCCO, SPLK, SRDX, TGT, TFX, TMO, TDG, RIG, TG, UHAL, SLCA, VMC, WSO, WPM, WSM, WOLF, WWW, WWD, QTEC, FXI, ICF, EWC, EWH, THD, TUR, PBE, PJP, XHB, XLB, SPY, UNG, 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 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  33,343.99    
 Monthly S1  33,984.15  640.16   
 Weekly S2  34,236.05  251.91   
 Weekly S1  34,430.18  194.12   
 Daily S2  34,451.86  21.68   
 Daily S1  34,538.08  86.22   
 Low  34,545.35  7.27   Yes! The Low is close to the Daily S1.
 Open  34,612.29  66.94   
 61.8% Down from Intraday High  34,614.00  1.71   Yes! The 61.8% Down from Intraday High is close to the Open.
 Close  34,624.30  10.30   Yes! The Close is close to the 61.8% Down from Intraday High.
 Daily Pivot  34,631.57  7.27   Yes! The Daily Pivot is close to the Close.
 50% Down from Intraday High  34,635.20  3.63   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  34,656.41  21.21   
 Monthly Pivot  34,669.38  12.96   Yes! The Monthly Pivot is close to the 38.2% Down from Intraday High.
 Weekly Pivot  34,704.07  34.70   
 Daily R1  34,717.79  13.71   Yes! The Daily R1 is close to the Weekly Pivot.
 High  34,725.06  7.27   Yes! The High is close to the Daily R1.
 Daily R2  34,811.28  86.22   
 Weekly R1  34,898.20  86.91   
 Weekly R2  35,172.09  273.90   
 Monthly R1  35,309.53  137.43   
 Monthly R2  35,994.75  685.23   

Monday 9/18/23. Market Monday: The Week Ahead

My Prediction

Picture of the S and P 500 on the daily scale.

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

At A is a chart pattern called a symmetrical triangle. It's not a good representation of a sym tri because of the last touch on the right. Price on the bottom doesn't form a minor low, at least it hasn't yet.

At B we see a weird looking double bottom. I say weird because price doesn't trend downward into the chart pattern, making it act more like a topping pattern instead of a twin bottom. It confirms as a valid chart pattern when the index closes above C, the peak between the two bottoms.

What does all of this mean for this week's price movement. Hard to tell. The sym tri can break out in any direction, but it favors an upward breakout (in stocks) 60% of the time.

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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 87.13 points.
Tuesday: Down 17.73 points.
Wednesday: Down 70.69 points.
Thursday: Up 331.81 points.
Friday: Down 288.87 points.

For the Week...

The Dow industrials were up 41.65 points or 0.1%.
The Nasdaq composite was down 53.2 points or 0.4%.
The S&P 500 index was down 7.17 points or 0.2%.

Year to Date...

Dow Industrials
     3.0% down from the high of 35,679.13 on 08/01/2023.
     10.1% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     5.1% down from the high of 14,446.55 on 07/19/2023.
     33.5% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     3.4% down from the high of 4,607.07 on 07/27/2023.
     17.3% 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  34,368  34,493  34,698  34,823  35,027 
Weekly  34,234  34,426  34,702  34,894  35,170 
Monthly  33,342  33,980  34,667  35,305  35,993 
S&P500 (^GSPC): Daily  4,414  4,432  4,465  4,483  4,516 
Weekly  4,405  4,428  4,470  4,492  4,535 
Monthly  4,236  4,343  4,442  4,549  4,648 
Nasdaq (^IXIC): Daily  13,551  13,630  13,763  13,841  13,974 
Weekly  13,510  13,609  13,783  13,883  14,057 
Monthly  12,685  13,197  13,673  14,185  14,661 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 147 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, ACIW, ATVI, APD, ATSG, AKAM, AA, AMED, AEO, AMWD, AAPL, AMAT, ATR, ANET, AVNT, AVA, AXS, BSET, BECN, BZH, BIIB, BKNG, BFH, BBW, CDNS, COR, CDAY, CIEN, CTAS, CSCO, CLNE, CLX, CNA, CTSH, CXW, COTY, CSGS, ^DJI, EXP, EQT, EL, EG, EZPW, FORM, GILD, GMS, HOLX, HD, DHI, HWM, HUBG, HURC, IBP, IIIN, PODD, IPAR, TILE, IPG, IPI, INTU, JNJ, KEYS, KLAC, LRCX, LEN, LLY, RAMP, LOW, MHO, MTSI, MAN, MCHX, MAS, MDC, NEE, NKE, NOVT, OMC, ON, OMI, PATK, KWR, REGN, ROG, ROP, RGLD, ^GSPC, SAIA, SAIC, SEE, SIGI, SCI, SHW, SCCO, SPLK, SSYS, SRDX, TFX, TER, TEVA, TDG, RIG, TREX, UGI, VECO, V, VC, VMC, WPM, ITB, ILF, EWA, EWK, EEM, EWM, EWS, EZA, EWL, THD, EWU, DBA, PBE, PJP, ROBO, XHB, UNG, 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. Homebuilding1. Homebuilding
2. Internet2. Computer Software and Svcs
3. Petroleum (Producing)3. Semiconductor Cap Equip.
4. Cement and Aggregates4. Internet
5. Oilfield Svcs/Equipment5. E-Commerce
6. Computer Software and Svcs6. Semiconductor
7. E-Commerce7. Cement and Aggregates
8. Semiconductor8. Drug
9. Petroleum (Integrated)9. IT Services
10. IT Services10. Petroleum (Producing)
Best Performing AboveWorst Performing Below
50. Electric Utility (East)50. Medical Supplies
51. Electric Utility (Central)51. Chemical (Diversified)
52. Human Resources52. Food Processing
53. Furn/Home Furnishings53. Electric Utility (West)
54. Metal Fabricating54. Metal Fabricating
55. Medical Supplies55. Human Resources
56. Electric Utility (West)56. Securities Brokerage
57. Food Processing57. Furn/Home Furnishings
58. Telecom. Equipment58. Telecom. Equipment
59. Short ETFs59. Short ETFs
60. Toiletries/Cosmetics60. Toiletries/Cosmetics

-- Thomas Bulkowski

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Friday 9/15/23. Pattern Trading Setups for the Weekend.

$ $ $

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: ACIW, ATVI, AEIS, A, ATSG, ALK, AA, DOX, AEO, AMWD, AAPL, ATR, AVNT, AVA, BAX, BECN, BERY, BBY, BKH, BR, BRKR, CAL, CPB, CE, CF, CRL, CIEN, CTAS, CNO, CNX, CXW, CSGP, CRH, DHR, XRAY, FANG, DFS, DOV, DRQ, DTE, EXP, EIX, EFX, EXC, FLEX, FORM, FWRD, FCX, GIS, HIG, HL, HNI, HWM, HURC, IDA, INFN, IIIN, PODD, TILE, IPI, NVTA, IRM, JNJ, KALU, LRCX, LAMR, LLY, LNC, MHO, MTSI, MCHX, MKTX, MRTN, MAS, MA, MDT, MU, MS, NBR, NFG, NJR, NOVT, OXY, OGE, ON, OMI, PRFT, PNW, PPL, PRU, KWR, DGX, ROK, ROG, RES, SAIA, SAIC, SEE, SIGI, SLGN, SCCO, SWX, SWN, SPLK, SCS, SSYS, SRDX, TFX, TDG, TRV, UGI, UIS, UPS, VMC, WRB, WAT, WMB, IYK, IHE, IDU, ICF, SOXX, SLV, IGE, EWC, EEM, EWQ, EIS, EWJ, EWL, EWT, TUR, EWU, PPA, DBA, PBE, PEJ, XRT, XLU, UNG, USO, 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.

$ $ $

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
MMMDouble Top, Eve and Adam      08/31/202309/12/2023Diversified Co.
AEOPipe top      08/28/202309/05/2023Apparel
ARCBDouble Top, Adam and Adam      08/21/202309/01/2023Trucking/Transp. Leasing
AVNTPipe top      08/28/202309/05/2023Chemical (Specialty)
AVAHorn bottom      08/21/202309/05/2023Electric Utility (West)
BMRNHead-and-shoulders top      08/09/202309/13/2023Biotechnology
BFHDouble Top, Adam and Eve      07/31/202308/07/2023Information Services
BRKRDouble Bottom, Eve and Eve      08/24/202309/11/2023Precision Instrument
CMTLDouble Top, Eve and Adam      07/26/202308/31/2023Telecom. Equipment
EXPPipe top      08/28/202309/05/2023Cement and Aggregates
EXCBroadening bottom      08/08/202309/13/2023Electric Utility (East)
GLDouble Top, Eve and Adam      07/24/202308/07/2023Insurance (Life)
GSDouble Bottom, Eve and Adam      08/23/202309/06/2023Securities Brokerage
THGDouble Bottom, Eve and Adam      08/24/202309/11/2023Insurance (Prop/Casualty)
HLITDouble Top, Eve and Eve      08/18/202308/31/2023Telecom. Equipment
HDDiamond top      07/27/202309/14/2023Retail Building Supply
HUBGDouble Bottom, Adam and Eve      08/23/202309/05/2023Trucking/Transp. Leasing
NSPDouble Top, Eve and Eve      08/16/202308/31/2023Human Resources
KALUDouble Bottom, Adam and Adam      08/25/202309/07/2023Metals and Mining (Div.)
LANCDouble Bottom, Adam and Eve      08/23/202309/08/2023Food Processing
LDouble Bottom, Eve and Adam      08/22/202309/06/2023Insurance (Prop/Casualty)
MTSIPipe top      08/28/202309/05/2023Semiconductor
MANHTriple bottom      07/26/202308/18/2023IT Services
MASPipe top      08/28/202309/05/2023Building Materials
MSDouble Bottom, Eve and Eve      08/25/202309/12/2023Securities Brokerage
NBRThree Rising Valleys      05/31/202308/23/2023Oilfield Svcs/Equipment
NIDouble Bottom, Eve and Adam      08/15/202309/06/2023Electric Utility (Central)
ORIDouble Bottom, Adam and Eve      08/22/202309/06/2023Insurance (Prop/Casualty)
ORCLBig M      06/15/202309/11/2023Computer Software and Svcs
PYPLUgly double bottom      08/18/202309/08/2023Financial Services
RGADouble Bottom, Eve and Adam      08/21/202309/05/2023Insurance (Life)
SCSBroadening top, right-angled and ascending      08/08/202309/11/2023Furn/Home Furnishings
TRVTriple bottom      08/22/202309/08/2023Insurance (Prop/Casualty)
TREXHead-and-shoulders complex top      07/18/202309/01/2023Building Materials
TWLODouble Bottom, Adam and Adam      08/08/202308/18/2023E-Commerce
VFCHead-and-shoulders top      07/19/202309/01/2023Apparel

 

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Thursday 9/14/23. Thursday 9/14/23. Ethereum (ETH-USD)

The Nasdaq climbed by 0.3% or 39.98 points. Since 02/05/1971 the Nasdaq made 673 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 368 occasions.
     Average loss was -0.6% on 305 occasions.
Expect the Nasdaq to close higher 54.7% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 262/465 or 56.3% of the time.
     The prediction of the Nasdaq closing lower has been right 73/154 or 47.4% of the time.

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

Picture of Ethereum.

$ $ $

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

Nothing struck me as being a chart pattern worth noting so I drew the red channels just to confuse the issue with facts. Smiley

The blue channel is different though. I don't usually like to draw trendlines through price unless the puncture is near the line's end. In this case, however, notice how the peak at A mirrors the drop at B (the height of each, that is).

That behavior reminds me of the trendline measure rule. Of course, peak A rises before the drop at B whereas the measure rule would predict the height of A using B.

See the link for deets.

$ $ $

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: ABM, ACN, ACIW, ADBE, ATSG, AA, AMZN, DOX, AEO, AMWD, ANIK, APA, APOG, AAPL, ATR, AWI, AIZ, AVNT, AVA, AXS, AZTA, BMI, BCPC, BAX, BZH, BERY, BBY, BIIB, BRC, BFH, BMY, BR, CBT, CACI, CLS, COR, CNC, CRL, CIEN, CINF, CLX, CNX, CXW, COST, CRH, CCRN, DVN, DDS, DSGR, ^DJI, DOV, DRQ, EXP, EMN, EIX, EFX, EXC, FIS, FLS, FORM, FTV, GPS, GD, GMS, GOOGL, GPRO, GFF, HIG, HL, HNI, DHI, HWM, HUM, HURC, IDA, IBP, IIIN, TILE, IPG, IPI, NVTA, JBLU, KELYA, KSS, LHX, LH, LAMR, LDOS, RAMP, MHO, MTSI, M, MCHX, MAS, MDC, MSFT, MS, MOS, MYGN, NFG, NOV, NOVT, OMC, ASGN, OTEX, OR, OMI, PKE, PTEN, PAYX, PNW, PPG, QTWO, KWR, RJF, RLI, ROK, ROG, R, SAIA, SBH, SCHW, SEE, SIGI, LUV, SWN, SXI, SCS, SSYS, SRDX, SNPS, TPR, TER, TDG, TZOO, SLCA, UGI, UIS, VMC, WRB, WU, WPM, WSM, WSC, WOLF, IYM, IEZ, DDM, ICF, IAT, IYZ, ILF, EWZ, ECH, EWM, EWD, THD, DBA, PBE, PXJ, GLD, XHB, XLI, XRT, UNG, VAW. Click this link for details (pattern type, start and end dates).

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

$ $ $

The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the 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  12,720.46    
 Monthly S1  13,267.03  546.56   
 Weekly S2  13,420.59  153.56   
 Weekly S1  13,617.09  196.50   
 Daily S2  13,670.58  53.49   
 Monthly Pivot  13,708.32  37.75   
 Low  13,733.82  25.50   
 Daily S1  13,742.08  8.26   Yes! The Daily S1 is close to the Low.
 Open  13,773.67  31.59   
 61.8% Down from Intraday High  13,785.29  11.63   Yes! The 61.8% Down from Intraday High is close to the Open.
 50% Down from Intraday High  13,801.20  15.90   
 Daily Pivot  13,805.33  4.13   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Close  13,813.59  8.26   Yes! The Close is close to the Daily Pivot.
 38.2% Down from Intraday High  13,817.10  3.51   Yes! The 38.2% Down from Intraday High is close to the Close.
 Weekly Pivot  13,838.97  21.87   
 High  13,868.57  29.60   
 Daily R1  13,876.83  8.26   Yes! The Daily R1 is close to the High.
 Daily R2  13,940.08  63.24   
 Weekly R1  14,035.47  95.39   
 Monthly R1  14,254.89  219.42   
 Weekly R2  14,257.35  2.46   Yes! The Weekly R2 is close to the Monthly R1.
 Monthly R2  14,696.18  438.83   

Wednesday 9/13/23. 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 remains bearish this week, suggesting there is more bad news to come.

The most recent signal appears as a vertical red bar on the far right of the chart. The indicator line, near the bottom of the chart, shows it just below neutral, so that's positive (suggesting the drop isn't as severe as it could be).

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 37% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 35%.
The fewest was 26% on 07/31/2023.
And the most was 78% on 09/26/2022.
Shown as a blue line on the above chart...
The 522 stocks in my database are down an average of 19% from their yearly high.
A week ago, the average was 18%.
The peak was 14% on 07/31/2023.
And the bottom was 34% on 09/30/2022.

Both the blue and red lines are bearish this week compared to last week.

Notice that both lines peaked in August and have been falling since. Of course, so has the index.

Both charts are bearish this week, suggesting the downtrend will continue, but I expect only a small drop based on the CPI line.

$ $ $

Here's a symbol list of 127 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, ATSG, AA, DOX, AMED, AEO, AXP, AFG, AMWD, AR, AON, AAPL, ATR, ARCB, ANET, AVY, AVNT, AVA, AZTA, BCPC, BECN, BZH, BERY, BCO, BMY, CALM, COR, CIEN, CLX, CL, CXW, CRH, CCRN, CW, DSGR, DOV, DRQ, EXP, EFX, EZPW, FARO, FE, FLS, FORM, GIS, GS, GPRO, GES, THG, HP, HNI, HURC, ILMN, NSP, IIIN, TILE, IPI, LH, RAMP, L, MHO, MTSI, MAS, MDC, NOV, NJR, NEU, NEE, NOVT, OMCL, OMI, PKE, PTEN, PEN, PPG, PG, KWR, RTX, RGS, RLI, RCKY, ROG, R, SAND, SCHW, SEE, SPSC, SCS, SSYS, TEVA, TJX, TDG, RIG, TRV, TZOO, UHAL, SLCA, UGI, UPS, VECO, WRB, WU, WEX, IAI, IHE, FXI, IAT, IYF, THD, EWU, DBA, PXJ, XLP, XHB, XLI, 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

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Tuesday 9/12/23. Slider Trading Quiz!

The Dow climbed by 0.3% or 87.13 points. Since 10/01/1928 the Dow made 1150 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 634 occasions.
     Average loss was -0.6% on 516 occasions.
Expect the Dow to close higher 55.1% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 271/492 or 55.1% of the time.
     The prediction of the Dow closing lower has been right 51/108 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring flags, high and tight.

$ $ $

Here's a symbol list of 118 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AYI, AFL, ALKS, ALGT, AMN, ANIK, ADM, ANET, AWI, AVA, AZTA, BMI, BCPC, BSET, BBW, CALM, CAL, CLS, CENX, CF, CHKP, CNX, CL, CSGP, CRH, CCRN, CTS, DOV, BOOM, ECL, EOG, EG, EXC, XOM, EZPW, FDS, FTNT, FNV, GNW, GOOGL, GPRO, HAYN, HELE, HWM, ILMN, NSP, IPG, NVTA, KLAC, LAMR, LNC, M, MRO, MCHX, MTDR, MRCY, MLKN, MS, NFG, NTGR, NWL, JWN, NUS, OXY, OMC, ORCL, PATK, PAYX, PYPL, PCG, POR, PSTG, RL, RMBS, RTX, RGS, ROP, SCHW, SIGI, SCI, STR, SKYW, SCCO, LUV, SWN, SCS, TDY, TER, TEVA, RIG, TZOO, UNH, VC, WRB, WWW, IAI, IYE, FXL, IXC, IGE, IEO, EWH, EZA, EWD, THD, DBA, PBE, PXJ, XLE, XLI, 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 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  33,207.81    
 Monthly S1  33,935.77  727.95   
 Weekly S2  34,029.15  93.38   
 Weekly S1  34,346.43  317.29   
 Daily S2  34,469.68  123.25   
 Daily S1  34,566.70  97.02   
 Low  34,578.59  11.89   Yes! The Low is close to the Daily S1.
 Weekly Pivot  34,608.85  30.26   
 Open  34,650.01  41.16   
 61.8% Down from Intraday High  34,657.25  7.24   Yes! The 61.8% Down from Intraday High is close to the Open.
 Close  34,663.72  6.46   Yes! The Close is close to the 61.8% Down from Intraday High.
 Daily Pivot  34,675.61  11.89   Yes! The Daily Pivot is close to the Close.
 50% Down from Intraday High  34,681.55  5.95   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  34,705.86  24.30   
 Monthly Pivot  34,757.17  51.32   
 Daily R1  34,772.63  15.46   Yes! The Daily R1 is close to the Monthly Pivot.
 High  34,784.52  11.89   Yes! The High is close to the Daily R1.
 Daily R2  34,881.54  97.02   
 Weekly R1  34,926.13  44.59   
 Weekly R2  35,188.55  262.41   
 Monthly R1  35,485.13  296.58   
 Monthly R2  36,306.54  821.41   

Monday 9/11/23. Market Monday: The Week Ahead

My Prediction

Picture of the NASDAQ on the daily scale.

I show the Nasdaq composite on the daily scale, but there's not much to see.

At AB, we see a double top chart pattern. This confirms as a valid pattern when the index closes below the lowest low between the two peaks. That's line C in the figure.

After a downward breakout, we see a pullback happen (where the index returns to the breakout price) and it completes at D.

After a pullback finishes, there is a 55% chance that the downward move will resume. We can see that already happening now as the index drops after peaking at D.

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A Brief Look Back

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

Tuesday: Down 195.74 points.
Wednesday: Down 198.78 points.
Thursday: Up 57.54 points.
Friday: Up 75.86 points.
Saturday: Holiday or other weird event!

For the Week...

The Dow industrials were down 261.12 points or 0.7%.
The Nasdaq composite was down 270.28 points or 1.9%.
The S&P 500 index was down 58.28 points or 1.3%.

Year to Date...

Dow Industrials
     3.1% down from the high of 35,679.13 on 08/01/2023.
     10.0% up from the low of 31,429.82 on 03/15/2023.
Nasdaq
     4.7% down from the high of 14,446.55 on 07/19/2023.
     34.1% up from the low of 10,265.04 on 01/06/2023.
S&P 500
     3.2% down from the high of 4,607.07 on 07/27/2023.
     17.5% 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  34,405  34,491  34,559  34,645  34,714 
Weekly  34,000  34,288  34,580  34,868  35,160 
Monthly  33,179  33,878  34,728  35,427  36,277 
S&P500 (^GSPC): Daily  4,435  4,446  4,460  4,471  4,485 
Weekly  4,384  4,421  4,467  4,504  4,551 
Monthly  4,239  4,348  4,445  4,554  4,651 
Nasdaq (^IXIC): Daily  13,669  13,715  13,779  13,826  13,890 
Weekly  13,403  13,582  13,822  14,001  14,240 
Monthly  12,703  13,232  13,691  14,220  14,679 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABM, ACN, AEIS, AMD, AKAM, AA, ALKS, ALGT, AMZN, AMED, AEO, AIG, APH, AMAT, ARW, AIZ, AXS, AZTA, BCPC, BFH, BCO, CAL, CF, CHKP, CTAS, CLNE, CLF, CSGP, CROX, CCRN, CSGS, CMI, EOG, FFIV, FDS, FARO, FAST, FISV, FMC, FORM, FNV, GPRO, HBI, THG, HIG, HAYN, HQY, HL, HD, JBHT, NSP, IBP, IPI, NVTA, KELYA, KMB, KSS, LRCX, LNC, RAMP, LMT, LXU, MTSI, MRO, MKTX, MTRN, MRCY, META, MLKN, NCR, NKE, OXY, OMCL, PKG, PATK, PAYX, PYPL, PLXS, PPL, KWR, QCOM, RMBS, RTX, REGN, ROK, ROP, SAIA, CRM, SIGI, NOW, SHW, LUV, SWN, SUM, SRDX, TPR, TXN, TKR, TDG, RIG, TRV, SLCA, UIS, UPS, UNM, VFC, VLO, VEEV, WRB, WWD, WDAY, ZBRA, ITA, IAI, IHE, FXL, FXI, BOTZ, IAT, MXI, ILF, EWZ, EPP, THD, DBA, PXJ, PHO, ROBO, XLI, 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. Computer Software and Svcs2. Semiconductor Cap Equip.
3. Semiconductor Cap Equip.3. Semiconductor
4. Internet4. Computer Software and Svcs
5. E-Commerce5. Cement and Aggregates
6. Semiconductor6. E-Commerce
7. Cement and Aggregates7. Internet
8. Drug8. Drug
9. IT Services9. Retail Building Supply
10. Petroleum (Producing)10. IT Services
Best Performing AboveWorst Performing Below
50. Medical Supplies50. Chemical (Diversified)
51. Chemical (Diversified)51. Human Resources
52. Food Processing52. Metal Fabricating
53. Electric Utility (West)53. Food Processing
54. Metal Fabricating54. Furn/Home Furnishings
55. Human Resources55. Electric Utility (West)
56. Securities Brokerage56. Oilfield Svcs/Equipment
57. Furn/Home Furnishings57. Telecom. Equipment
58. Telecom. Equipment58. Short ETFs
59. Short ETFs59. Securities Brokerage
60. Toiletries/Cosmetics60. Toiletries/Cosmetics

-- Thomas Bulkowski

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Friday 9/8/23. Pattern Trading Setups for the Weekend.

I released a new version of Patternz (8.0.0.2) which has an important bug fix to prevent a crash. Patternz is my free software that finds chart patterns. It's well worth the money. Smiley

$ $ $

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, ABT, ABM, ACN, ATVI, AES, A, ATSG, AA, ALKS, AEO, AXP, ACGL, AWI, ARW, AZTA, BALL, BERY, BIO, BSX, BFH, CAL, CX, CF, CLNE, CLF, CNA, CL, CSGP, CR, CRH, CCRN, EMN, EL, EZPW, FARO, FMC, FDP, FRD, GD, GFS, GL, GPRO, HLIT, HL, HP, HSIC, HOLX, IDXX, NSP, IPAR, IBKR, IPI, JNJ, KMT, KSS, LAMR, LLY, MRCY, MLKN, MOS, MYGN, ^IXIC, NFG, NCR, NWL, NEU, NKE, NOC, NVDA, OMCL, OUT, PDCO, PFE, PLXS, PGR, KWR, ROL, SAND, SCHW, SEE, SKYW, LUV, SWX, SUM, TPR, TECH, TFX, TER, TKR, RIG, UHAL, UGI, UIS, UNH, UNM, WRB, WSC, ZBRA, IAI, IYE, FTEC, IHF, MXI, ILF, IHI, EWA, EWO, EWK, EWZ, EWC, EEM, EWQ, EWH, EIS, EWI, EPP, EWY, PEJ, PHO, ROBO, XAR, 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.

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ABMHead-and-shoulders top      08/01/202309/01/2023Industrial Services
ACIWPipe bottom      08/21/202308/21/2023IT Services
AYITriangle, descending      07/26/202309/07/2023Furn/Home Furnishings
ADTNUgly double bottom      08/07/202308/29/2023Telecom. Equipment
ANETPipe bottom      07/24/202307/31/2023E-Commerce
AVYPipe bottom      08/14/202308/21/2023Packaging and Container
AVNTPipe bottom      08/14/202308/21/2023Chemical (Specialty)
CFPipe bottom      08/21/202308/28/2023Chemical (Basic)
CMCOBroadening bottom      08/15/202309/05/2023Machinery
CRPipe bottom      08/14/202308/21/2023Diversified Co.
EXPPipe bottom      08/14/202308/21/2023Cement and Aggregates
EFXPipe bottom      08/14/202308/21/2023Information Services
FORMPipe bottom      08/14/202308/21/2023Semiconductor
FNVHead-and-shoulders bottom      08/08/202308/25/2023Metals and Mining (Div.)
GDDouble Top, Eve and Adam      08/11/202308/30/2023Aerospace/Defense
INFNUgly double bottom      08/09/202308/28/2023Telecom. Equipment
INTCPipe bottom      08/14/202308/21/2023Semiconductor
IRMDouble Bottom, Adam and Eve      08/03/202308/18/2023Industrial Services
LOWDouble Bottom, Adam and Adam      08/08/202308/21/2023Retail Building Supply
MTSIPipe bottom      08/14/202308/21/2023Semiconductor
MTRNBroadening bottom      08/04/202309/05/2023Metals and Mining (Div.)
MCOPipe bottom      08/14/202308/21/2023Information Services
NFLXPipe bottom      08/14/202308/21/2023Internet
NTAPDouble Bottom, Adam and Adam      08/18/202308/25/2023Computers and Peripherals
NOVTDouble Bottom, Adam and Eve      08/09/202308/18/2023Precision Instrument
OLNDouble Top, Eve and Adam      08/09/202308/30/2023Chemical (Basic)
ONPipe bottom      08/14/202308/21/2023Semiconductor
PCTYPipe bottom      08/14/202308/21/2023E-Commerce
PYPLPipe bottom      08/14/202308/21/2023Financial Services
PLXSDouble Top, Eve and Eve      07/25/202309/01/2023Electronics
RMBSRising wedge      08/04/202309/07/2023Semiconductor Cap Equip.
RTXTriangle, symmetrical      07/31/202309/05/2023Aerospace/Defense
SMGPipe bottom      08/14/202308/21/2023Chemical (Basic)
SHOPPipe bottom      08/14/202308/21/2023E-Commerce
SWXDouble Top, Eve and Adam      07/27/202308/09/2023Natural Gas (Distributor)
UHALTriangle, symmetrical      08/07/202309/07/2023Trucking/Transp. Leasing
VRTXTriangle, symmetrical      08/02/202309/05/2023Biotechnology
WEXPipe bottom      08/14/202308/21/2023Information Services
ZBRAUgly double bottom      08/03/202308/25/2023Computers and Peripherals

 

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Thursday 9/7/23. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -1.1% or -148.48 points. Since 02/05/1971 the Nasdaq made 179 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.3% on 90 occasions.
     Average loss was -1.1% on 89 occasions.
Expect the Nasdaq to close higher 50.3% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 262/464 or 56.5% of the time.
     The prediction of the Nasdaq closing lower has been right 73/154 or 47.4% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

I drew a horizontal red line to highlight not only support but what I call a multi-peak pattern. You don't want to mess with a multi-peak.

After a multi-peak ends, price can drop like we see here or it can form a bullish pattern that fizzles out and price drops anyway.

In this case, I would expect the index to drop to the price of the circled area. Because this is on the intraday scale, the prediction is less reliable than on the daily charts, so keep that in mind. In short, I could be wrong and price will zip up instead (but if that were to happen, it might reverse and still drop).

$ $ $

Here's a symbol list of 161 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, A, ATSG, ALKS, AXP, AIG, AME, ATR, AWI, AVY, AZTA, BCPC, BOOT, BMY, BRKR, CACI, CALM, CAL, CX, CF, CIEN, CMCO, CONN, COST, CR, CRH, CCRN, CCK, CSGS, FANG, DSGR, ^DJI, EG, EVH, XOM, EZPW, FARO, FAST, FLEX, FMC, FORM, FRD, GD, GNW, GL, GMS, GOOGL, GPRO, HL, HELE, HSIC, HOLX, HWM, INCY, NSP, ITGR, IPAR, IBKR, IPI, NVTA, IRM, JKHY, JNJ, KSS, LH, LANC, LEG, RAMP, LMT, L, LOW, MTSI, MAN, MTRN, MRK, MCO, MLI, NFG, NCR, NEWR, NWL, NXGN, JWN, NUS, OMC, ASGN, OTEX, OR, PKG, PKE, PFE, PLXS, RTX, ROL, RES, SEIC, SLGN, SKX, LUV, SWX, TRGP, TECH, TPX, TDG, RIG, SLCA, UNH, VMI, VEEV, WRB, WERN, IAI, DDM, IYH, IHF, IEV, MXI, ILF, SLV, EWC, ECH, EEM, EWQ, EWG, EIS, EWI, EWM, EPP, EWS, EWP, EWL, PBE, PJP, XLE, GLD, XLV, XRT, XAR, UNG, 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.

$ $ $

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  12,592.56    
 Monthly S1  13,232.52  639.95   
 Weekly S2  13,359.93  127.41   
 Weekly S1  13,616.20  256.27   
 Daily S2  13,692.75  76.55   
 Daily S1  13,782.61  89.86   
 Monthly Pivot  13,801.71  19.10   Yes! The Monthly Pivot is close to the Daily S1.
 Low  13,802.42  0.71   Yes! The Low is close to the Monthly Pivot.
 Close  13,872.47  70.05   
 61.8% Down from Intraday High  13,878.64  6.17   Yes! The 61.8% Down from Intraday High is close to the Close.
 Weekly Pivot  13,882.91  4.27   Yes! The Weekly Pivot is close to the 61.8% Down from Intraday High.
 Daily Pivot  13,892.28  9.37   Yes! The Daily Pivot is close to the Weekly Pivot.
 50% Down from Intraday High  13,902.18  9.90   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  13,925.73  23.54   
 Daily R1  13,982.14  56.41   
 Open  13,988.81  6.67   Yes! The Open is close to the Daily R1.
 High  14,001.95  13.14   Yes! The High is close to the Open.
 Daily R2  14,091.81  89.86   
 Weekly R1  14,139.18  47.37   
 Weekly R2  14,405.89  266.71   
 Monthly R1  14,441.67  35.78   
 Monthly R2  15,010.86  569.20   

Wednesday 9/6/23. 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 as the red vertical bar shows on the far right of the chart. This is September, after all, the worst performing month of the year.

I think this signal will be short lived, meaning I expect it to disappear. Having written that, today's big drop in the Dow was a surprise.

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, 35% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 36%.
The fewest was 26% on 07/31/2023.
And the most was 78% on 09/26/2022.
Shown as a blue line on the above chart...
The 522 stocks in my database are down an average of 18% from their yearly high.
A week ago, the average was 18%.
The peak was 14% on 07/31/2023.
And the bottom was 34% on 09/30/2022.

The red line this week is slightly better than it was a week ago, with the blue line holding steady.

The chart shows a downward turn in both lines, following the index lower.

The prior chart is bearish and this one shows it's bearish, too. So maybe I'm wrong in believing that this downturn is a one or two day drop and that we'll return to making new highs by week's end.

I will say that the utility index got clobbered today (down 1.76%). I'm looking add some utility stocks to my holdings but the index continues to drop. That boosts yields, of course, and drops the stock's purchase price. Where's the bottom? I don't know...

$ $ $

Here's a symbol list of 161 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, ACN, AYI, ADBE, APD, ALK, ALB, AYX, DOX, AME, AAPL, ARCB, AWI, ADSK, BAX, BBY, BIO, BKNG, BOOT, BRC, CACI, CF, CVX, CIEN, CSCO, COP, CSGP, CRH, CMI, DOV, EZPW, FDS, FICO, FARO, FLEX, FMC, FTV, FDP, FRD, GPN, GFS, GL, GMS, GPRO, GFF, HBI, HE, HL, HELE, HOLX, HUN, IEX, IDXX, INCY, ITGR, TILE, IPI, NVTA, JKHY, KALU, LH, LOW, MHO, MANH, MTDR, MDC, MRCY, MLKN, MLI, NFG, NOV, NTAP, NWL, NEU, NXGN, NWPX, OXY, OLN, OTEX, OR, OUT, PANW, PKE, PFE, PCG, PNW, PGR, KWR, QCOM, ROK, ROL, SAND, SCHW, SMG, SEIC, SIGI, NOW, SLGN, LUV, SCS, TRGP, TGT, TDY, TFX, TTD, TDG, RIG, SLCA, V, WRB, WERN, WLK, IYC, IYE, IEZ, IHE, FDN, QTEC, IHF, IYZ, IEV, IGV, IXC, ILF, ECH, EWQ, EWG, EWI, EZA, EWP, EWL, THD, TUR, PEJ, PJP, PHO, XLE, XLV, XLK, UNG, USO, VIS. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 9/5/23. Slider Trading Quiz!

The Dow climbed by 0.3% or 115.8 points. Since 10/01/1928 the Dow made 1149 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 634 occasions.
     Average loss was -0.6% on 515 occasions.
Expect the Dow to close higher 55.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 271/491 or 55.2% of the time.
     The prediction of the Dow closing lower has been right 51/108 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring Wedge, falling stock.

$ $ $

Here's a symbol list of 171 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACN, ACIW, AES, APD, AEO, AIG, AMWD, APA, ADM, AGO, ADSK, AVY, AVNT, BSET, BAX, BECN, BERY, BBY, BIO, BA, CE, CLS, CDAY, CF, CHKP, CIEN, CNA, COP, CR, CCRN, CCK, CMI, DVN, FANG, EXP, EIX, EFX, EQT, XOM, FDS, FICO, FARO, FORM, FWRD, FCX, GD, GOOGL, HBI, HE, JBHT, HURC, ITGR, INTC, IRM, JNJ, KALU, K, LH, LNC, LOW, LXU, MTSI, MGY, MANH, MRO, MTDR, MTRN, MDT, META, MU, MCO, MOS, MUR, NBR, NOV, NFLX, NWPX, NOVT, NTNX, OXY, ON, OUT, PCTY, PYPL, PXD, PRU, KWR, RJF, RLI, RGLD, SAIA, SAND, SLB, SCHW, SAIC, SMG, SEIC, SHOP, SKYW, SO, SCCO, SWX, SPSC, TGT, TPX, TEVA, RIG, TG, TREX, TWLO, SLCA, UIS, VFC, VLO, VEEV, VMC, WRB, WU, WLK, WEX, WPM, WDAY, IYM, IYC, IYE, IEZ, FXL, FXI, ICF, IHF, IYZ, IEV, IXC, MXI, ILF, IGE, IEO, EWK, EWZ, EWQ, EWI, EWJ, EWM, EWW, EWY, EWP, EWD, THD, QLD, PEJ, PXJ, PJP, XLY, XLE, XHB, XLB, SPY, UNG, USO, VAW, 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 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  33,198.78    
 Monthly S1  34,018.24  819.46   
 Weekly S2  34,154.62  136.38   
 Weekly S1  34,496.16  341.55   
 Daily S2  34,587.38  91.22   
 Daily S1  34,712.55  125.16   
 Low  34,720.70  8.15   Yes! The Low is close to the Daily S1.
 Weekly Pivot  34,783.19  62.49   
 61.8% Down from Intraday High  34,819.44  36.25   
 Close  34,837.71  18.27   Yes! The Close is close to the 61.8% Down from Intraday High.
 Daily Pivot  34,845.86  8.15   Yes! The Daily Pivot is close to the Close.
 Monthly Pivot  34,848.69  2.82   Yes! The Monthly Pivot is close to the Daily Pivot.
 50% Down from Intraday High  34,849.94  1.25   Yes! The 50% Down from Intraday High is close to the Monthly Pivot.
 Open  34,876.24  26.30   
 38.2% Down from Intraday High  34,880.44  4.20   Yes! The 38.2% Down from Intraday High is close to the Open.
 Daily R1  34,971.03  90.59   
 High  34,979.18  8.15   Yes! The High is close to the Daily R1.
 Daily R2  35,104.34  125.16   
 Weekly R1  35,124.73  20.39   Yes! The Weekly R1 is close to the Daily R2.
 Weekly R2  35,411.76  287.02   
 Monthly R1  35,668.15  256.39   
 Monthly R2  36,498.60  830.45   

Friday 9/1/23. Forecast 2023 Update

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

$ $ $

Here's a symbol list of 192 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACN, ACIW, ADBE, AES, A, ALL, AFG, AMWD, AME, AMN, AAPL, ADM, ANET, ATO, ADP, AVY, AVNT, AVA, AXS, BA, BOOT, BR, BRKR, BBW, CDNS, CAL, CE, CDAY, CIEN, CLNE, CNA, CL, CMTL, ED, CONN, GLW, COST, CR, CMI, FANG, ^DJT, ^DJI, BOOM, EXP, ELV, EFX, EVRG, EVH, EXPI, FARO, FISV, FORM, FTNT, FWRD, FCX, GD, GL, GMS, GES, THG, HIG, HTLD, HSII, HP, HURC, IDA, IEX, ITGR, IPI, NVTA, IRM, JAZZ, JNJ, KLAC, LH, LPLA, MTSI, MAS, META, MSFT, MCO, MUR, NBR, NFLX, NJR, ORI, ASGN, ON, OUT, PKG, PANW, PATK, PCTY, PYPL, PEN, PFE, PXD, POR, DGX, RTX, REGN, RCKY, ROG, ROL, ROP, RGLD, RES, CRM, SAND, SCHW, SMG, SEIC, SMTC, SHOP, STR, SO, SWX, SR, SPLK, SPSC, SCS, SSYS, SRDX, SNPS, TECH, TFX, TEVA, TXT, TMO, TG, SLCA, UIS, UNM, VEEV, MDRX, WRB, WAT, WEX, WPM, WMB, WSM, WDAY, ZBRA, IYE, IHE, DDM, FTEC, FDN, FXL, FXI, ICF, IHF, IYZ, IGV, IXC, IYF, IHI, EWZ, EIS, EWJ, EWM, EWW, EZA, EWU, QLD, PBE, PXJ, PHO, XHB, XLI, 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.

-- Thomas Bulkowski

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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

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