As of 12/05/2024   Indus: 44,766 -248.33 -0.6%     Trans: 16,976 -190.93 -1.1%     Utils: 1,047 +2.22 +0.2%     Nasdaq: 19,700 -34.86 -0.2%     S&P 500: 6,075 -11.38 -0.2%	YTD  +18.8%    +6.8%    +18.8%    +31.2%    +27.4%	Targets    Overview: 12/02/2024     44,000 or 46,000 by 12/15/2024   17,025 or 18,000 by 12/15/2024   1,025 or 1,100 by 12/15/2024   20,000 or 18,500 by 12/15/2024   6,200 or 5,900 by 12/15/2024
Chart Pattern Indicator: on 12/5/24

As of 12/05/2024   Indus: 44,766 -248.33 -0.6%     Trans: 16,976 -190.93 -1.1%     Utils: 1,047 +2.22 +0.2%     Nasdaq: 19,700 -34.86 -0.2%     S&P 500: 6,075 -11.38 -0.2%	YTD  +18.8%    +6.8%    +18.8%    +31.2%    +27.4%
Targets    Overview: 12/02/2024     44,000 or 46,000 by 12/15/2024   17,025 or 18,000 by 12/15/2024   1,025 or 1,100 by 12/15/2024   20,000 or 18,500 by 12/15/2024   6,200 or 5,900 by 12/15/2024
Chart Pattern Indicator: on 12/5/24

Recent Headlines Friday 12/6/24. Pattern Trading Setups for the Weekend. Thursday 12/5/24. Intraday Market Direction: Nasdaq Wednesday 12/4/24. A Look at the Chart Pattern Indicator (CPI) Tuesday 12/3/24. Slider Trading Quiz! Walmart: WMT Monday 12/2/24. 2024 Forecast Update

Older Headlines Friday 11/29/24. Pattern Trading Setups for the Weekend. Wednesday 11/27/24. A Look at the Chart Pattern Indicator (CPI) Tuesday 11/26/24. Slider Trading Quiz! Waters Corp: WAT Monday 11/25/24. Market Monday: The Week Ahead Friday 11/22/24. Pattern Trading Setups for the Weekend. Thursday 11/21/24. Intraday Market Direction: Nasdaq Wednesday 11/20/24. A Look at the Chart Pattern Indicator (CPI) Tuesday 11/19/24. Slider Trading Quiz! Watsco: WSO Monday 11/18/24. Market Monday: The Week Ahead Friday 11/15/24. Pattern Trading Setups for the Weekend.

Archives December Archive November Archive October Archive September Archive All Archives

Friday 12/6/24. Pattern Trading Setups for the Weekend.

Here's a symbol list of 155 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AXDX, ADTN, AKAM, ALK, ALKS, AMWD, AR, APOG, AAPL, AMAT, ATR, ADM, ANET, AWI, ARW, ATO, AVA, BALL, BIO, BIIB, BOOT, BMY, BBW, CBT, CAL, CPB, CE, CNP, CF, CLX, ED, GLW, CCK, DDS, ^DJI, DOV, BOOM, EQT, EG, EZPW, FDX, FISV, FMC, FTNT, FWRD, GME, GFS, HSII, HELE, HSIC, HON, DHI, JBHT, ITW, IBP, INTC, IPAR, JNJ, KFRC, KLIC, LZB, LRCX, LDOS, LEN, LNC, M, MGY, MTRX, MRCY, META, MSFT, NOVT, ORCL, OR, OMI, PDCO, PTEN, PCTY, PHM, DGX, RNG, RCKY, ROG, ROL, R, SAND, SLB, SAIC, SIGI, STR, LUV, SPSC, TECH, TDY, TPX, TOL, TSCO, RIG, TWLO, UIS, UNH, VECO, VC, WU, WOLF, ZBRA, ITA, IYM, IAI, IYC, QTEC, FXL, IHF, IEV, MXI, IXN, ILF, ITB, EWO, EWZ, ECH, EEM, EWQ, EWG, EIS, EWI, EWM, EWS, EZA, EWP, EWD, THD, TUR, EWU, PEJ, PHO, XLI, XLB, UNG, VHT, VIS, VAW. Click this link for details (pattern type, start and end dates).

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

$ $ $

I released a pattern called the 3DC, which is a three-day trend compression pattern. Yes, it's a stinker.

You can find a list of small patterns and their rank here. The page is still under construction with more patterns to come but the results are worth looking at if you like using short patterns (up to 7 price bars long).

$ $ $

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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Thursday 12/5/24. Intraday Market Direction: Nasdaq

$ $ $

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

The measure rule for trendlines says that the move down (B) will mirror the move up (A). You can flip that around, and it suggests the rise at A will precede a fall to B. In this case, notice that B is taller than A. The move from C to the trendline better aligns with what we see at B.

The rise at D says something else about the trend. It is gaining momentum. I think that applies to lines drawn using linear regression (a way to draw a line between points so they are all have a minimum distance from the line). I did not use linear regression on this chart. When price rises above the line, momentum is increasing. When it's heading toward the line, momentum is falling.

If we use the measure rule, then look for the index to drop below the line by about 200 points.

$ $ $

Here's a symbol list of 164 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, AXDX, ADBE, AES, ATSG, ALRM, AMZN, AMED, AMWD, AMN, APH, AR, AAPL, AMAT, ADM, ATO, BBY, BIO, BKNG, BRKR, CBT, CDNS, CPB, CE, CLS, CX, CF, CI, ED, COTY, CR, CCRN, CCK, BOOM, ECL, ELV, EQT, EG, XOM, FIS, FTNT, GME, GIS, GFS, GL, GOOGL, HL, HSII, HUBG, IBP, INTC, IPI, JBLU, JNJ, KLIC, LZB, LH, LDOS, LLY, LMT, MTSI, MGY, META, MSFT, MYGN, ^IXIC, NOV, NWL, OLN, OMC, PANW, PDCO, PYPL, PETS, PFE, PLXS, PINC, PHM, PSTG, RMBS, RTX, RNG, ROL, ROP, ^GSPC, SLB, SEIC, STR, SMAR, LUV, SPSC, SNPS, TECH, TOL, TDG, RIG, TWLO, UIS, VLO, VMI, MDRX, WEX, WSC, WOLF, WWD, IYK, IYC, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, IYZ, IGV, IXN, SOXX, EWO, EEM, EWG, EWH, EWI, EZA, EWP, EWD, EWT, TUR, QLD, DBA, PXJ, SSO, ROBO, XLY, XLF, XRT, SPY, XLK, UNG, USO, 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.

$ $ $

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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Wednesday 12/4/24. A Look at the Chart Pattern Indicator (CPI)

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 most recent signal is green, which is bullish. There's no change from last week except that the thin blue indicator line has rounded over and is heading lower.

Look at the index. It continues to rise even as the indicator drops. Uh-oh. That's bearish divergence. It suggests, but does not guarantee, that the index will follow the CPI lower.

I recently switched my targets (top of page) from up to down, based on weakness I saw in the price trend. I think it'll be a short retrace before a resumption of the upward move, but today's CPI chart seems to confirm my reasoning of a weakening general market.

$ $ $

Here's a symbol list of 150 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AXDX, ACN, ACIW, ATSG, ALB, AR, ADM, ASH, ADP, AVNT, AVA, BBY, BAH, BCO, BG, CE, CNP, CENX, CHD, CI, CL, CR, ^DJU, ^DJT, BOOM, EMN, ELV, EQT, EVH, EZPW, FARO, FMC, FNV, FRD, GME, GIS, HL, HSII, HOLX, HUBG, HURC, IEX, INFN, INTC, IRM, JNJ, K, KELYA, LZB, LXU, MTSI, M, MGY, MAN, MCHX, MTRN, MGEE, MOS, NWL, NEE, NVDA, OLN, OMC, ASGN, OTEX, OUT, OXM, PKE, PAYX, PCG, PPG, PINC, PFG, PHM, PSTG, RTX, RNG, ROL, R, SAND, SAIC, SIGI, SLGN, SKX, SKYW, LUV, SXI, TDOC, TXT, TWLO, UPS, UNH, VLO, VMI, VMC, WU, WLK, WEX, IYM, FXI, ICF, IHF, IYZ, MXI, IXN, IHI, EWO, ECH, EEM, EWH, EIS, EWI, EWJ, EWS, EWY, EWP, EWD, THD, TUR, EWU, IBB, DBA, PJP, XAR, XLK, UNG, USO, VAW. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)