As of 03/21/2023
Indus: 32,561 +316.02 +1.0%
Trans: 13,994 +229.26 +1.7%
Utils: 909 -22.36 -2.4%
Nasdaq: 11,860 +184.57 +1.6%
S&P 500: 4,003 +51.30 +1.3%
|
YTD
-1.8%
+4.5%
-6.0%
+13.3%
+4.3%
|
|
As of 03/21/2023
Indus: 32,561 +316.02 +1.0%
Trans: 13,994 +229.26 +1.7%
Utils: 909 -22.36 -2.4%
Nasdaq: 11,860 +184.57 +1.6%
S&P 500: 4,003 +51.30 +1.3%
|
YTD
-1.8%
+4.5%
-6.0%
+13.3%
+4.3%
| |
| ||
This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.
The CPI has signaled a bullish move has begun. The vertical green bar on the far right of the chart attests to that. It comes after a long downtrend that began in February. That move bottomed in March.
Because the indicator can change its mind for up to a week, it's too soon to declare the uptrend has staying power, but it looks promising.
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).
On Tuesday, 45% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).A week ago, it was 45%.The fewest was 32% on 02/02/2023.And the most was 81% on 06/17/2022.
The 520 stocks in my database are down an average of 22% from their yearly high.A week ago, the average was 23%.The peak was 17% on 02/02/2023.And the bottom was 34% on 09/30/2022.
The red line is unchanged from a week ago but the blue line is slightly stronger. Like the prior chart, this chart shows that weakness began at the late January or early February peak.
What does all of this mean? The prior chart is bullish but it could be a premature signal. This chart is neutral, really. So it's difficult to say we'll recover from here, but that's my guess.
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Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, AMD, AJRD, ATSG, DOX, ABC, ACGL, ATO, AVA, BSET, BBY, BIO, BKH, CLS, CDAY, CVX, CLX, CMTL, CSGP, CRH, CROX, DHR, DVN, FANG, DTE, EIX, EFX, EXC, EXPI, XOM, FFIV, FDS, FICO, FE, FISV, FMC, FORM, FCX, HLIT, HOV, IDA, IDXX, INCY, ISRG, NVTA, KEYS, KLAC, LRCX, RAMP, MANH, MTRX, MDC, MDT, MGEE, MLKN, NTAP, NJR, NEE, NKE, NI, OMCL, OXM, PANW, PKE, PEN, PNW, POR, PPL, PEG, QCOM, RMBS, RGS, SMG, NOW, SKYW, SMAR, SWN, SR, SPSC, TPR, TRGP, TDOC, TFX, TEVA, TWLO, VLO, VMI, VECO, WDAY, XEL, IYM, IYE, IDU, FDN, BOTZ, QQQ, IHF, SOXX, SLV, IEO, IHI, EWO, ECH, EWQ, EWG, EIS, EWI, EWM, EWS, EWY, EWP, EWD, EWL, EWT, TUR, EWU, QLD, PEJ, PXJ, IEV, XLY, XLU, UNG, MGK. Click this link for details (pattern type, start and end dates).
For a list of small patterns (those a few days wide) click this link.
-- Thomas Bulkowski
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I show another slider trading quiz featuring Xcel Energy: XEL stock.
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Here's a symbol list of 101 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ATSG, AA, ALL, ABC, APOG, ATR, AIZ, BMI, BBBY, BERY, BKNG, BOOT, BRC, BBW, BLDR, CBT, CALM, CX, CENX, CF, CHKP, CLNE, CLF, CNA, CXW, CW, DFS, ^DJI, DRQ, EXP, EXC, FDP, IT, HAYN, HL, HSII, HP, HNI, HOV, IDA, NSP, IBP, PODD, IBKR, IPI, IRM, KBAL, KSS, LH, LLY, M, MGY, MAN, MTRN, MTRX, MLKN, MOS, PKG, PEN, PSTG, RGS, RLI, RES, SLGN, SXI, SSYS, SRDX, TPR, RIG, TWLO, SLCA, UNM, WERN, IYM, IYK, IYE, IEZ, IHE, IHF, IGE, EIS, EWJ, EWS, TUR, PBE, PXJ, IXN, XLP, XLE, XLB, 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.
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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 Dow industrials, 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 | 29,766.97 | ||
Monthly S1 | 31,005.78 | 1,238.80 | |
Weekly S2 | 31,116.89 | 111.12 | |
Weekly S1 | 31,680.74 | 563.84 | |
Daily S2 | 31,724.59 | 43.85 | |
Low | 31,872.33 | 147.74 | |
Open | 31,872.33 | 0.00 | Yes! The Open is close to the Low. |
Daily S1 | 31,984.58 | 112.25 | |
Weekly Pivot | 31,993.66 | 9.08 | Yes! The Weekly Pivot is close to the Daily S1. |
61.8% Down from Intraday High | 32,028.09 | 34.42 | Yes! The 61.8% Down from Intraday High is close to the Weekly Pivot. |
50% Down from Intraday High | 32,076.20 | 48.11 | |
38.2% Down from Intraday High | 32,124.31 | 48.11 | |
Daily Pivot | 32,132.33 | 8.01 | Yes! The Daily Pivot is close to the 38.2% Down from Intraday High. |
Close | 32,244.58 | 112.25 | |
High | 32,280.07 | 35.49 | Yes! The High is close to the Close. |
Daily R1 | 32,392.32 | 112.25 | |
Daily R2 | 32,540.07 | 147.74 | |
Weekly R1 | 32,557.51 | 17.44 | Yes! The Weekly R1 is close to the Daily R2. |
Monthly Pivot | 32,668.62 | 111.12 | |
Weekly R2 | 32,870.43 | 201.81 | |
Monthly R1 | 33,907.43 | 1,036.99 | |
Monthly R2 | 35,570.27 | 1,662.85 |
I show the Dow industrials on the daily scale.
I don't show enough of the chart but it looks to me like the index could drop as far as B (where the uptrend began) to A (a minor high). That AB region could support price.
CD is a double top, confirmed when the index closes below the blue line, which is the lowest low between the two peaks.
Notice at D, a thick top, resists the pullback E, from going higher.
The drop from D to E to where it is now, is a pattern called a measured move down. That pattern suggests price will rise up to the retrace (the corrective phase of the MMD) which ends at E. That's about 32,900.
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 | 31,447 | 31,655 | 31,936 | 32,143 | 32,425 |
Weekly | 30,989 | 31,426 | 31,866 | 32,302 | 32,743 |
Monthly | 29,639 | 30,751 | 32,541 | 33,652 | 35,443 |
S&P500 (^GSPC): Daily | 3,868 | 3,892 | 3,926 | 3,950 | 3,983 |
Weekly | 3,741 | 3,829 | 3,897 | 3,984 | 4,052 |
Monthly | 3,611 | 3,764 | 3,962 | 4,115 | 4,313 |
Nasdaq (^IXIC): Daily | 11,445 | 11,538 | 11,655 | 11,748 | 11,866 |
Weekly | 10,672 | 11,151 | 11,462 | 11,941 | 12,252 |
Monthly | 10,473 | 11,052 | 11,562 | 12,140 | 12,650 |
Here are the formulas:
Earnings season is over.
Here's a symbol list of 100 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AMD, A, APD, AA, ATR, ANET, AVY, BMI, BSET, BAX, BBBY, BKNG, BMY, BR, BRKR, BLDR, CALM, CX, CNC, CNP, CENX, CDAY, CIEN, CLF, DSGR, DRQ, EXP, EL, EZPW, FDX, FDP, FRD, HAYN, HSII, HP, HSY, HOLX, HOV, HUBG, IBP, ITGR, IPI, IRM, JNJ, LH, LDOS, LNC, LMT, LOW, M, MGY, MAS, MTRN, MTRX, MRCY, MSFT, MOS, NFLX, JWN, NVDA, ORI, PCTY, PKI, DGX, RRC, RGS, RLI, ROL, ROP, RES, SMTC, SXI, TECH, TPX, RIG, TG, TWLO, SLCA, WERN, WSM, WOLF, IYM, IEZ, IYH, THD, PXJ, GLD, UNG. Click this link for details (pattern type, start and end dates).
For a list of small patterns (those a few days wide) click this link.
The below industries were the best (rank 1) or worst performing of those I follow.
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-- Thomas Bulkowski
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