Pattern Trading Setups for the Weekend!…

Wednesday 7/7/21. A Look At Indicators

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 red bar is baaack! The CPI chart shows it as a bearish signal. It appeared today, despite what looks like Friday on the chart. That’s because signals can change for up to a week.

Today’s move was large enough to cause NR7s sitting on the sidelines to flip bearish, and they flipped enough of those from Friday’s action to cause a bearish breakout in those as well.
Hence the bearish signal.

Notice how the thin blue line near the bottom of the chart swung down after the green bar in late June. The market has been losing upward momentum for the last two weeks…

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).

As the chart shows, both lines took a big dip today, but when compared to a week ago, the damage is far less severe (but still worse today).

Look at the slope of the two lines. They are heading lower and have been since peaking in March. Market support is weakening and that’s not good.

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Here’s a symbol list of 129 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AXDX, ACN, AYI, APD, AIG, APH, ANIK, AAPL, BCPC, BSET, BAX, BERY, BLDR, CAL, CLS, CHKP, CGNX, CL, CONN, COP, CRH, DHR, DECK, DRQ, EXP, EBAY, EOG, EL, EXPD, FICO, FOE, FDP, IT, GD, GNW, GL, HSC, HSII, HELE, HOLX, HD, IBP, IIIN, INTC, JKHY, LB, LH, L, MHO, M, MAS, MTRN, MDC, MDT, NFG, NOV, NCR, NFLX, NXGN, OGE, PKE, PYPL, PRFT, PETS, PLXS, PPL, PRU, QCOM, RGS, REV, RLI, RCKY, RES, SAIA, SCHW, SAIC, SMG, SEE, SEIC, SIGI, SCCO, TPX, TSCO, RIG, TZOO, TG, UGI, VRTX, WAT, WU, WEX, WMB, WWW, IYM, IEO, FXI, IYZ, SLV, IYF, EWA, EWZ, EEM, EWG, EWI, EWJ, EWW, EWP, EWU, PPA, IEV, ILF, MXI, XLY, XLF. Clink 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

Tuesday 7/6/21. Slider Trading Quiz! Alaska Air (2)

Weekly, since inception on 6/14/2011:

     The prediction of the index closing higher has been right 227/401 or 56.6% of the time.

     The prediction of the index closing lower has been right 42/87 or 48.3% of the time.

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I show another slider trading quiz featuring Alaska Air: ALK 2.

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Here’s a symbol list of 48 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ALB, AA, ALL, ANIK, AON, AMAT, ARCB, ACGL, BBBY, BBY, COG, CAL, CX, CENX, GLW, CREE, CCRN, EQT, RE, FLEX, FCX, GS, HSII, HP, KMT, KFRC, KSS, LRCX, LNC, M, MAN, MRO, MDCA, MU, NEU, JWN, PFG, SMTC, SCCO, SWN, SCS, TDC, TSCO, VMI, VRTX, IAI, DDM, IAT. Clink 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

Monday 7/5/21. Feeding ThePatternSite.

Today (Monday) is a trading holiday in the US.

If you wish to support the website, then try one of these options.

1. Perhaps the best way is come to this site and click on an image of one of my books. You’ll find the images at the bottom of the page. The click will take
   you to
   Amazon.com.
   The link passes a code to them and I receive a small referral fee but only if you buy something while there during the visit. You do NOT need to buy the book. It’s just a vehicle to get you to Amazon
   with the referral code.

   So each time you want to use Amazon.com to buy something, come to this site first. The referral is free (it does not increase the cost of anything you buy), it’s easy to do, and it supports this site.

2. You can click on an ad. Please don’t click on them just to run up the score. Google frowns on that. If you see something of interest, then click the ad and visit their site.
   Ad sales are where most of the financial support for the site comes from. Some of you may have to turn off your ad blocker to see the ads.

 

3. Finally, you can donate to the site directly. The home page (and some other pages as well) has a Donate link at the bottom of the page. For a limited time and
   while supplies last, I’ll throw in a free book to those with addresses in the US who donate $100 or more. See the donate page for details.

Thanks! — Tom Bulkowski

Friday 7/2/21. Pattern Trading Setups for the Weekend.

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Here’s a symbol list of 160 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ABT, AXDX, ADBE, AEIS, AFL, ALB, AA, ALL, AMGN, AMN, ANIK, AON, AMAT, ARCB, ACGL, AGO, AVY, AVNT, BCPC, BLL, BSET, BBBY, BBY, BBW, BG, CBT, COG, CAL, CPB, CE, CX, CENX, CRL, CHD, CTSH, CMCO, GLW, CREE, CCRN, CTS, DHR, DECK, D, DTE, EMN, EBAY, EMR, EQT, RE, FB, FLEX, FCX, FDP, GE, GILD, GS, GPRO, GES, HSC, HSII, HELE, HP, HNI, HON, IEX, IDXX, INOV, IIIN, TILE, IPG, ISRG, IVC, KMT, KFRC, KBAL, KSS, KLIC, LB, LRCX, LLY, LNC, MTSI, M, MAN, MRO, MCHX, MRTN, MTRN, MDCA, MU, ^IXIC, NTGR, NEU, NKE, JWN, PKE, PAYX, PRFT, PPG, PFG, KWR, REV, RNG, ROK, SMTC, NOW, SCCO, SWN, SCS, SSYS, TDC, TSCO, RIG, TZOO, SLCA, VMI, VRTX, WDAY, IAI, IYK, IYC, IHI, IHE, DDM, FXI, BOTZ, IYH, IHF, IAT, SOXX, IGE, EWK, EWZ, EEM, EWJ, EWM, THD, PJP, ILF, SSO, XLI, SPY, USO, MGK. Clink 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.

There were 22 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 3.8%. Based on the percentage, the stock market is
trending since few consolidation patterns appear.

I found 10 pipe bottom chart patterns, which is neutral. High numbers of pipe bottoms can signal a bullish move (I see many of them just before a bear market ends or during a bear market rally. Often it means the first bottom of a double bottom has formed. Thus, expect a move down to the second bottom).

Excluding ETFs, there were 21 bullish chart patterns this week and 4 bearish ones with any remaining (7) being undecided.
The ratio of bullish to bearish patterns suggests the market is bullish.

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

Thursday 7/1/21. 2021 Market Forecast Update

Weekly, since inception on 6/14/2011:

     The prediction of the index closing higher has been right 220/385 or 57.1% of the time.

     The prediction of the index closing lower has been right 58/122 or 47.5% 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.

Here’s the updated 2021 forecast for July, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for year to date performance as of 30 June 2021 were…
(The numbering is how they ranked a month ago.)

1. Energy (+40.5%)

2. Financials (+23.9%)

5. Real estate (+21.7%)

6. Communication services (+19.4%)

4. Industrials (+14.6%)

9. Information technology (+13.3%)

3. Materials (+13.2%)

7. Health care (+11.0%)

8. Consumer discretionary (+9.9%)

10. Consumer staples (+2.9%)

11. Utilities (+1.0%)

The folks at two firms polled by Fidelity weigh the sectors in this order.

1. Information technology

2. Health care

3. Consumer discretionary

4. Financials

5. Communication services

6. Industrials

7. Consumer staples

8. Energy

9. Materials

11. Real estate

10. Utilities

The only change in the above list was real estate moved up a notch.

Here’s how they rank the industries, but only the top 10 appear. Year to date returns, as of 6/29. The numbering is how they ranked a month ago.

4. Oil, Gas and Consumable fuels (+41.8%)

2. Consumer finance (+40.4%)

3. Real estate management and development (36.7%)

8. Interactive media and services (35.6%)

1. Metals and mining (+30.4%)

10. Distributors (+28.9%)

(new) Building products (28.5%)

9. Energy equipment and services (+28.2%)

5. Banks (+26.6%)

7. Household durables (+26.5%)

(new) Capital markets (25.2%)

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Here’s a symbol list of 185 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
MMM, ANF, AXDX, ACIW, ADBE, ADTN, AEIS, AMD, AJRD, AKAM, ALRM, ALB, AA, ALL, AMED, ANIK, AON, APOG, AMAT, ARCB, ACGL, ADM, ASH, AVNT, BAX, BBBY, BBY, BIIB, BOOT, BAH, BMY, CBT, COG, CAL, CPB, CX, CENX, CTXS, CMCO, COP, CSOD, GLW, CR, CREE, CRH, CROX, CCRN, DECK, ^DJI, D, EMN, EBAY, EQT, RE, EVH, FICO, FIS, FE, FISV, FIVN, FLEX, FLS, FMC, FCX, GIS, GS, GPRO, HSII, HP, HON, IDA, IPAR, JAZZ, KMT, KFRC, KBAL, KSS, LB, LRCX, LNC, L, MTSI, M, MAN, MRO, MCHX, MTRN, MDCA, MU, MS, MLI, CNR, NTAP, NEU, JWN, NUS, PKE, PLXS, PFG, KWR, QCOM, RNG, ROK, ^GSPC, SEIC, SIGI, SRE, SMTC, NOW, SCCO, SWN, SCS, SUM, TDC, TKR, TJX, TSCO, VMI, VEEV, VRTX, VMC, WMT, WDAY, XEL, XLNX, IAI, IEO, IDU, DDM, FDN, FXL, FXI, ICF, IAT, IGV, SOXX, IGE, EWA, EWO, EWK, EWQ, EWG, EIS, EWI, EWJ, EWM, EWW, EPP, EWP, EWL, EWT, PPA, DBA, PEJ, IEV, SSO, MXI, XRT, SPY, SMH. Clink 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