Trading Quiz Tuesday: Standex Internationsl: SXI (2)…

Friday 10/7/22. Pattern Trading Setups for the Weekend.

$ $ $

Here’s a symbol list of 98 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, ALB, AMWD, ANIK, ARCB, ACGL, ADP, BSET, BECN, BOOT, CALM, CF, CRL, CLX, CMCO, CAG, COP, CLR, CR, CROX, CW, D, EVH, FFIV, FORM, FTNT, FCX, FRD, HE, HL, HOLX, HUBG, JBHT, IDA, IEX, INFN, IBP, IIIN, IPI, JAZZ, LZB, LEN, LMT, LXU, MAS, MTRN, MDC, MU, NOV, NFLX, NUS, OXY, OMCL, PYPL, PRFT, PETS, KWR, QCOM, RMBS, RJF, RGS, RGA, RHI, RES, SCHW, SIGI, SCCO, SWX, SRDX, TPR, TDC, TEVA, RIG, VMI, VEEV, VRSN, VC, WSO, WLK, ICF, IHF, IYZ, EWK, EWW, EZA, EWP, TUR, PBE, USO. 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.

$ $ $

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

Thursday 10/6/22. Intraday Market Direction: Nasdaq

Weekly, since inception on 6/14/2011:

     The prediction of the Nasdaq closing higher has been right 245/433 or 56.6% of the time.

     The prediction of the Nasdaq closing lower has been right 66/138 or 47.8% 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.

$ $ $

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

I drew a red trendline to highlight how the line fit within price. At AB, there’s a chart pattern called a bump-and-run reversal top. A is the lead-in phase which leads to the bump phase, at B.

Price moves down below the trendline but in this case, it doesn’t go down far enough (to C) to fulfill the measure rule target (the largest vertical distance from price to the trendline in the bump phase).
Instead, the index moves higher after C, which suggests underlying strength in the index.

Because the index stalled at the old high, it could turn into a 2-B pattern and price will drop.

I’m not sure a drop is what’ll happen. The move from C upward was a nice push of strength. We might see another round of bulls pushing up price.

$ $ $

Here’s a symbol list of 66 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, ALRM, ALL, ACGL, BECN, BOOT, CALM, CF, CRL, CHD, CL, CLR, CR, CROX, CW, DRQ, WIRE, EVH, XOM, FWRD, FCX, FRD, HL, HELE, HOLX, INFN, IBP, IPI, LEN, LMT, LXU, MRO, MAS, MTRN, MTRX, MU, NOV, OXY, OMCL, PRFT, RGS, RGA, RHI, RES, SCHW, SMTC, SCCO, SWX, SWN, SRDX, TEVA, RIG, VMI, VEEV, WSO, WERN, WLK, WWW, EEM, EWH, PBE, PXJ, UNG, USO. 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.

$ $ $

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

Wednesday 10/5/22. 2022 Forecast Update

Here’s the updated 2022 forecast, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 4 October 2022 were…
(The numbering is how they ranked a month ago.)

1. Energy (+43%)

2. Utilities (6%)

3. Consumer staples (-1%)

4. Health care (-3%)

7. Materials (-12%)

5. Industrials (-14%)

8. Real estate (-18%)

6. Financials (-18%)

9. Information technology (-19%)

10. Consumer discretionary (-22%)

11. Communication services (-39%)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 9/30/22.

1. Information technology (IT)

2. Health care

3. Consumer discretionary

4. Financials

5. Communication services

6. Industrials

7. Consumer staples

8. Energy

9. Utilities

10. Real estate

11. Materials

Here’s how they rank the industries, but only the top 10 appear. One-year change, as of 10/3/22. The numbering is how they ranked a month ago.

1. Oil, gas and consumable fuels (+46%)

4. Health care providers and services (+23%)

3. Energy equipment and services (+14%)

2. Construction and engineering (+13%)

5. Food products (9%)

8. Beverages (+8%)

7. Multi-utilities (+7%)

New. Pharmaceuticals (+7%)

9. Electric utilities (6%)

6. Biotechnology (+3%)

$ $ $

Here’s a symbol list of 235 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, AXDX, ACN, ACIW, AYI, ADBE, ADTN, AJRD, AES, AFL, APD, ATSG, ALL, DOX, AEL, AMWD, AMN, APH, APA, ACGL, ARW, ASH, AGO, ADSK, AVY, AVNT, AZTA, BMI, BCPC, BALL, BECN, BERY, BOOT, BAH, BRC, BBW, BLDR, CALM, CAL, CE, CLS, CF, CRL, CVX, CLF, CMTL, CONN, COP, CLR, CR, CRH, CROX, CSGS, CMI, CW, DVN, DDS, DOV, BOOM, EXP, EMN, EMR, EOG, EFX, EQT, RE, EVH, XOM, FFIV, FDS, FLS, FMC, FORM, FTNT, FCX, FRD, IT, GPN, GOOGL, GFF, HL, HSII, HOLX, HD, HOV, IEX, IDXX, ILMN, INFN, IBP, ITGR, IBKR, TILE, IPI, ISRG, NVTA, JKHY, KALU, KELYA, KMT, KFRC, LEN, LNC, LXU, MHO, M, MAN, MRO, MLM, MAS, MTRN, MU, MSFT, MLI, MUR, NBR, NFG, NOV, NTAP, NWL, NEU, NVDA, OXY, ASGN, OXM, PKG, PANW, PTEN, PRFT, PETS, PPG, PFG, PRU, DGX, RMBS, RJF, RGS, RGA, RHI, ROK, RES, SLB, SCHW, SEE, SLGN, SCCO, SWN, SXI, SRDX, SNPS, TDC, TEVA, TKR, TJX, TOL, RIG, TZOO, SLCA, VLO, VMI, VEEV, VMC, WAT, WSO, WU, WLK, WMB, WDAY, IYM, IYE, IEZ, QTEC, FXL, BOTZ, IGV, SLV, IGE, IEO, IYF, IHI, EWO, EWK, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EZA, EWP, EWD, EWU, IBB, PBE, PXJ, PJP, PHO, ROBO, IEV, IXC, MXI, XLE, XLF, GLD, XLB, USO, VAW. 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 10/4/22. Slider Trading Quiz! Standex International: SXI

Weekly, since inception on 6/14/2011:

     The prediction of the Dow closing higher has been right 250/451 or 55.4% of the time.

     The prediction of the Dow closing lower has been right 49/100 or 49.0% of the time.

$ $ $

I show another slider trading quiz featuring Standex International: SXI (2) stock.

$ $ $

Here’s a symbol list of 113 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
MMM, ABT, AXDX, AYI, AA, ALL, AMGN, AON, APA, AIZ, ATO, BIIB, BKH, BFH, CACI, CALM, CNP, CENX, CSCO, CTSH, ED, GLW, CCRN, CSGS, DHR, DVN, DDS, DSGR, ^DJU, ^DJT, ^DJI, D, DUK, EMR, WIRE, EOG, EQT, EVRG, FFIV, GE, GILD, HSC, HAYN, HL, HELE, HSIC, HNI, HOLX, HON, IDA, NSP, IPAR, KALU, LH, L, LOW, MTSI, MRO, MCHX, MTRN, MUR, NBR, NOV, NTAP, NJR, NEE, NI, OXY, OGE, OLN, OTEX, OXM, PDCO, PAYX, PNW, PPG, PPL, PGR, KWR, RES, CRM, SLB, SMTC, SKX, SO, SWX, TDOC, TXN, TMO, TJX, TG, UGI, UNM, WERN, DDM, IYH, IHF, IYZ, SLV, EIS, EWW, EZA, THD, PXJ, IXN, XLV, XLK, XLU, UNG, VHT. 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.

$ $ $

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 10/3/22. Market Monday: The Week Ahead

My Prediction

I didn’t see anything worth reporting on the Dow transports on the daily scale, so I show the weekly scale instead.

I show support areas, places where the index might stop declining as three red lines.

Red line A is where I thought the index would find support, but it barreled right on through that.

Line B is where we’re at now, matching prior valleys in early 2021.

Line C looks to be the next significant support area. I don’t know whether the index will make it down to C. It could turn upward before then. However, if Putin uses a nuke, we could see a drop to C easily.

After that, we’ll have to wait and see.

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: Down 329.6 points.

Tuesday: Down 125.82 points.

Wednesday: Up 548.75 points.

Thursday: Down 458.13 points.

Friday: Down 500.1 points.

For the Week…

The Dow industrials were down 864.9 points or 2.9%.

The Nasdaq composite was down 292.31 points or 2.7%.

The S&P 500 index was down 107.61 points or 2.9%.

Year to Date…

Dow Industrials

     22.3% down from the high of 36,952.65 on 01/05/2022.

     0.0% up from the low of 28,715.85 on 09/30/2022.

Nasdaq

     33.3% down from the high of 15,852.14 on 01/04/2022.

     0.1% up from the low of 10,565.14 on 06/16/2022.

S&P 500

     25.6% down from the high of 4,818.62 on 01/04/2022.

     0.0% up from the low of 3,584.13 on 09/30/2022.

Options Expiration

No options expire this week.

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.

• Seekinger doesn’t look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week’s price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it’s overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

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

Earnings, Chart Patterns & Industries

Earnings season is over.

Here’s a symbol list of 76 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, ADBE, AES, ALL, AFG, AMGN, APH, AON, ARCB, ARW, BMI, BFH, CALM, COTY, CW, DECK, DRQ, EIX, WIRE, EVRG, EXC, EXPD, EZPW, GPS, IT, GE, GIS, GILD, HBI, HLIT, HSC, HIG, HTLD, HELE, HOLX, IDXX, ITGR, JNJ, K, KELYA, KMT, KSS, L, MLKN, MYGN, NCR, NWL, NEE, NKE, NUS, OMI, QCOM, ROK, SKX, SO, SUM, TDOC, TDC, TJX, TSCO, UNM, VFC, VRSN, VRTX, V, WAT, WOLF, WWW, WDAY, SLV, IHI, EIS, EWL, 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.

The below industries were the best (rank 1) or worst performing of those I follow.

— Thomas Bulkowski