As of 12/01/2023
Indus: 36,246 +294.61 +0.8%
Trans: 15,464 +445.25 +3.0%
Utils: 876 +9.25 +1.1%
Nasdaq: 14,305 +78.81 +0.6%
S&P 500: 4,595 +26.83 +0.6%
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YTD
+9.3%
+15.5%
-9.4%
+36.7%
+19.7%
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As of 12/01/2023
Indus: 36,246 +294.61 +0.8%
Trans: 15,464 +445.25 +3.0%
Utils: 876 +9.25 +1.1%
Nasdaq: 14,305 +78.81 +0.6%
S&P 500: 4,595 +26.83 +0.6%
|
YTD
+9.3%
+15.5%
-9.4%
+36.7%
+19.7%
| |
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Recent Headlines
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Archives |
Older Headlines
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I show the S&P 500 index on the daily scale, but there's not much to talk about.
At A, we have overhead resistance that I'm still waiting for it to activate. I expect it to turn the index down, but it hasn't so far.
How far could we drop? I look for a retrace to B, the top of the gap. It might drop lower, but it's a good target.
So what will happen in the coming week? That's hard to say. The Dow industrials are shooting higher. They have zipped above resistance. The Nasdaq looks like this chart. It's mired in resistance, but it could break through and soar like the Dow.
It might look like the Industrials a week from now, or it might retrace. We'll have to wait and see. To be objective, it will probably move higher.
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.
No options expire this week.
The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 35,791 | 36,018 | 36,142 | 36,369 | 36,492 |
Weekly | 34,946 | 35,596 | 35,930 | 36,580 | 36,915 |
Monthly | 31,008 | 33,627 | 34,946 | 37,565 | 38,884 |
S&P500 (^GSPC): Daily | 4,538 | 4,566 | 4,583 | 4,611 | 4,628 |
Weekly | 4,515 | 4,555 | 4,577 | 4,617 | 4,639 |
Monthly | 3,937 | 4,266 | 4,433 | 4,761 | 4,928 |
Nasdaq (^IXIC): Daily | 14,074 | 14,189 | 14,251 | 14,366 | 14,428 |
Weekly | 13,989 | 14,147 | 14,285 | 14,443 | 14,581 |
Monthly | 11,954 | 13,129 | 13,776 | 14,952 | 15,599 |
Here are the formulas:
Earnings season is over.
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 196 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ABM, ADTN, AES, A, APD, ALRM, ALB, ALGT, DOX, AEE, AEO, AEL, AMAT, ASH, AVNT, BALL, BSET, BKH, BKNG, BOOT, BRC, BFH, BRKR, BLDR, CDNS, CAL, COR, CDAY, CRL, CINF, CGNX, CTSH, CMCO, CSGP, CSGS, CMI, DDS, ^DJT, EMN, ELV, EVH, EXPI, EZPW, FAST, FDX, FIS, FIVN, FLEX, FTNT, FWRD, FCX, FDP, FRD, GPS, GNW, GPN, GS, THG, HAYN, HTLD, HELE, HP, HON, DHI, IDA, IDXX, INFN, IBP, TILE, NVTA, JAZZ, JBLU, JNJ, K, KELYA, KMT, KMB, KLIC, LZB, LRCX, LEN, LXU, M, MGY, MANH, MAN, MCHX, MKTX, MTRN, MRCY, MLKN, MLI, ^IXIC, NJR, NWL, NWPX, NOVT, NUS, OXY, ORI, OLN, ASGN, ON, ORCL, OXM, PKE, PCTY, PEN, PETS, PFE, PLXS, PGR, QTWO, QCOM, R, SAND, SMTC, SHOP, SWX, SR, SSYS, SRDX, TECH, TFX, TPX, TER, TTD, TMO, TG, TREX, TWLO, SLCA, VFC, VEEV, VRSN, VRTX, VMC, WAT, WLK, WEX, WMB, WOLF, WWW, XEL, ZBRA, IYM, IYC, IYE, FTEC, FDN, FXI, BOTZ, IHF, IAT, IYZ, IEV, IGV, MXI, IXN, IEO, EWO, EWQ, EWH, EWI, EWJ, EWS, EWY, THD, EWU, PEJ, ROBO, XLY, XLE, XHB, USO, 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.
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-- Thomas Bulkowski
Here's the updated 2023 forecast, presented in slider format.
The November forecast sent you to the October one. Oops. Here's the corrected link: November 2023 forecast
$ $ $
I'll be releasing another version of Patternz (8.0.0.4) soon to correct a few bugs.
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Here's a symbol list of 128 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ALRM, AMZN, APH, ACGL, ASH, AIZ, BALL, BIG, BA, BKNG, BMY, BBW, CDNS, CAL, CHD, CNX, CL, CMTL, CONN, CXW, CSGS, CTS, CW, XRAY, DDS, DFS, ^DJI, DTE, EPAM, EG, EXC, EXPD, FICO, FARO, FAST, FDX, FIS, FLEX, FTNT, GME, GNW, GMS, GOOGL, GFF, HBI, HAYN, HP, INFN, IBP, JKHY, KBH, K, KEYS, KMB, KSS, LZB, M, MANH, MKTX, MRTN, MLM, MTRN, MTRX, MGEE, MCO, NFLX, NTNX, OXY, OMI, PDCO, PEN, PETS, PLXS, PG, QTWO, QCOM, RMBS, RRC, RGS, RLI, ROK, RES, CRM, SMG, SIGI, SHW, STR, SWX, SWN, SXI, SNPS, TDOC, TFX, TER, TKR, TZOO, TG, TWLO, VC, WMT, WU, WPM, WMB, WWD, DDM, QTEC, FXL, FXI, BOTZ, IXC, EWK, EWH, EWW, THD, TUR, DBA, PBE, PJP, 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
Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.
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I show a picture of 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.
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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.
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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
© 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 |
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