As of 01/28/2022 Indus: 34,725 +564.69 +1.7% Trans: 15,049 +238.69 +1.6% Utils: 941 +10.78 +1.2% Nasdaq: 13,771 +417.79 +3.1% S&P 500: 4,432 +105.34 +2.4% |
YTD -4.4% -8.7% -4.1% -12.0% -7.0% |
36,000 or 32,500 by 02/15/2022
16,500 or 14,400 by 02/15/2022
970 or 890 by 02/15/2022
15,000 or 12,700 by 02/15/2022
4,700 or 4,100 by 02/15/2022
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As of 01/28/2022 Indus: 34,725 +564.69 +1.7% Trans: 15,049 +238.69 +1.6% Utils: 941 +10.78 +1.2% Nasdaq: 13,771 +417.79 +3.1% S&P 500: 4,432 +105.34 +2.4% |
YTD -4.4% -8.7% -4.1% -12.0% -7.0% |
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36,000 or 32,500 by 02/15/2022
16,500 or 14,400 by 02/15/2022
970 or 890 by 02/15/2022
15,000 or 12,700 by 02/15/2022
4,700 or 4,100 by 02/15/2022
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Monday 1/31/22. Market Monday: The Week Ahead
My Prediction
I show the Nasdaq composite on the daily scale.
At AB, there’s a small double bottom which confirms as a valid pattern when the index closes above the top of the pattern. I show that as line C.
In this case, the upward move faltered and the index tumbled. The double bottom failed.
More recently, the index has found a bottom — I think. My expectation and hope is that the index will recover by following the blue line. It won’t be as steep as the line suggests, but
maybe I’ve gotten the direction right (upward).
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I finished converting my website to a secure site: https versus http. If you have links to the website with only http:, change it to https: and you’ll get in faster (but I doubt you’ll notice
the difference).
If you find any broken links or pages which don’t load properly, please let me know. Email me at
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: Up 99.13 points.
Tuesday: Down 66.77 points.
Wednesday: Down 129.64 points.
Thursday: Down 7.31 points.
Friday: Up 564.69 points.
For the Week…
The Dow industrials were up 460.1 points or 1.3%.
The Nasdaq composite was up 1.65 points or 0.0%.
The S&P 500 index was up 33.91 points or 0.8%.
Year to Date…
Dow Industrials
6.0% down from the high of 36,952.65 on 01/05/2022.
4.8% up from the low of 33,150.33 on 01/24/2022.
Nasdaq
13.1% down from the high of 15,852.14 on 01/04/2022.
5.2% up from the low of 13,094.65 on 01/24/2022.
S&P 500
8.0% down from the high of 4,818.62 on 01/04/2022.
5.0% up from the low of 4,222.62 on 01/24/2022.
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.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 33,497 | 34,111 | 34,422 | 35,036 | 35,346 |
Weekly | 32,565 | 33,645 | 34,230 | 35,311 | 35,896 |
Monthly | 31,140 | 32,933 | 34,943 | 36,735 | 38,745 |
S&P500 (^GSPC): Daily | 4,245 | 4,339 | 4,386 | 4,479 | 4,526 |
Weekly | 4,139 | 4,285 | 4,369 | 4,516 | 4,600 |
Monthly | 3,895 | 4,163 | 4,491 | 4,759 | 5,087 |
Nasdaq (^IXIC): Daily | 13,058 | 13,414 | 13,593 | 13,949 | 14,128 |
Weekly | 12,715 | 13,243 | 13,623 | 14,151 | 14,531 |
Monthly | 11,449 | 12,610 | 14,256 | 15,416 | 17,062 |
- 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 either underway or should be starting soon. The sessions could be more volatile.
Here’s a symbol list of 94 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ACIW, AEL, AXP, AMN, APOG, AAPL, ATR, ARW, AVNT, AVA, BECN, BBBY, BERY, BIO, BOOT, BAH, EPAY, BLDR, BG, CX, CNP, CENX, CTXS, COTY, CCRN, CSGS, DECK, D, DOV, FICO, FAST, FE, FLS, FORM, FCX, GNW, THG, HE, HL, NSP, IVC, KALU, KBH, KSS, LEG, MAN, MRK, MS, MOS, MYGN, NI, OGE, OMI, OXM, PCG, PICO, PNW, RL, SCHW, SRE, NOW, SKX, SCCO, TJX, SLCA, VRSN, VRTX, V, WLK, WEX, XEL, IAI, IHE, FXI, SOXX, SLV, EWK, EWH, EWM, EPP, TUR, DBA, XLP, XLV, XLK, XLU, UNG. 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.
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— Thomas Bulkowski
Friday 1/28/22. Pattern Trading Setups for the Weekend.
Here’s a symbol list of 71 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ADTN, AEL, ABC, ADM, AIZ, ADP, BAX, BECN, BIG, CACI, CAL, CLS, CONN, COST, CTS, DHR, EIX, EZPW, FAST, FORM, FCX, GME, GNW, GILD, HBI, HQY, HTLD, HL, HSII, HSIC, HNI, INCY, NSP, INTC, IPG, IVC, JBLU, KALU, KBH, KSS, LH, LAWS, LDOS, M, MOS, NFLX, OMC, PRFT, PCG, PEG, PHM, RCKY, SLB, SCHW, SAIC, NOW, SCCO, SR, TPX, TER, SLCA, WLK, WSM, WWW, FXI, EWJ, EPP, EWY, GLD, XLU. 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.
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
Symbol | Chart Pattern | Bullish Bearish |
Start | End | Industry |
ANF | Double Bottom, Adam and Adam | 01/10/2022 | 01/21/2022 | Apparel | |
AMAT | Broadening top, right-angled and ascending | 11/26/2021 | 01/14/2022 | Semiconductor Cap Equip. | |
ATO | Double Top, Eve and Adam | 01/05/2022 | 01/19/2022 | Natural Gas (Diversified) | |
BLL | Pipe top | 12/27/2021 | 01/03/2022 | Packaging and Container | |
BBW | Double Top, Eve and Eve | 12/01/2021 | 01/11/2022 | Retail (Special Lines) | |
CACI | Double Top, Adam and Eve | 01/05/2022 | 01/18/2022 | IT Services | |
CE | Double Top, Adam and Adam | 01/05/2022 | 01/13/2022 | Chemical (Basic) | |
CLS | Pipe top | 01/03/2022 | 01/10/2022 | Electronics | |
CX | Double Top, Eve and Eve | 01/05/2022 | 01/14/2022 | Cement and Aggregates | |
CNP | Broadening top, right-angled and descending | 01/05/2022 | 01/27/2022 | Electric Utility (Central) | |
CL | Double Top, Eve and Eve | 01/05/2022 | 01/19/2022 | Household Products | |
CR | Double Top, Eve and Eve | 01/05/2022 | 01/13/2022 | Diversified Co. | |
CCRN | Triple top | 11/04/2021 | 12/28/2021 | Human Resources | |
CTS | Double Top, Eve and Eve | 11/16/2021 | 01/04/2022 | Electronics | |
WIRE | Double Top, Eve and Eve | 11/23/2021 | 12/28/2021 | Metals and Mining (Div.) | |
EPAM | Three Falling Peaks | 11/05/2021 | 12/27/2021 | IT Services | |
FICO | Broadening top | 12/30/2021 | 01/26/2022 | IT Services | |
FCX | Pipe top | 01/10/2022 | 01/18/2022 | Metals and Mining (Div.) | |
HBI | Head-and-shoulders bottom | 12/13/2021 | 12/31/2021 | Apparel | |
HSC | Double Top, Eve and Eve | 12/29/2021 | 01/14/2022 | Diversified Co. | |
KLIC | Pipe top | 12/06/2021 | 12/13/2021 | Semiconductor Cap Equip. | |
LRCX | Triple top | 12/09/2021 | 01/13/2022 | Semiconductor Cap Equip. | |
LAMR | Double Top, Eve and Eve | 11/05/2021 | 01/04/2022 | Advertising | |
RAMP | Double Top, Adam and Adam | 12/08/2021 | 01/04/2022 | Computer Software and Svcs | |
MNDT | Head-and-shoulders bottom | 11/23/2021 | 12/15/2021 | Computer Software and Svcs | |
MAS | Broadening top | 11/16/2021 | 01/04/2022 | Building Materials | |
NFLX | Dead-cat bounce | 01/21/2022 | 01/21/2022 | Internet | |
PKG | Ugly double bottom | 12/20/2021 | 01/24/2022 | Packaging and Container | |
PKE | Rectangle bottom | 11/26/2021 | 01/27/2022 | Chemical (Specialty) | |
PATK | Three Falling Peaks | 10/04/2021 | 01/05/2022 | Retail Building Supply | |
PHM | Double Top, Eve and Adam | 12/30/2021 | 01/13/2022 | Homebuilding | |
RL | Three Falling Peaks | 11/01/2021 | 01/05/2022 | Apparel | |
RHI | Broadening top | 12/29/2021 | 01/14/2022 | Human Resources | |
SAIC | Ugly double bottom | 12/20/2021 | 01/10/2022 | IT Services | |
SWN | Horn top | 12/27/2021 | 01/10/2022 | Natural Gas (Diversified) | |
TECH | Three Falling Peaks | 09/23/2021 | 12/31/2021 | Biotechnology | |
TFX | Triple top | 01/05/2022 | 01/20/2022 | Diversified Co. | |
TER | Dead-cat bounce | 01/27/2022 | 01/27/2022 | Semiconductor Cap Equip. | |
VMC | Double Top, Adam and Eve | 11/09/2021 | 01/04/2022 | Cement and Aggregates | |
WERN | Pipe top | 12/27/2021 | 01/03/2022 | Trucking/Transp. Leasing | |
WLK | Pipe top | 01/10/2022 | 01/18/2022 | Chemical (Basic) |
Thursday 1/27/22. Intraday Market Direction: Nasdaq
Average gain was 0.8% on 395 occasions.
Average loss was -0.9% on 298 occasions.
Expect the index to close higher 57.0% of the time.
Weekly, since inception on 6/14/2011:
The prediction of the index closing higher has been right 234/409 or 57.2% of the time.
The prediction of the index closing lower has been right 60/127 or 47.2% 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.
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I show a picture of the Nasdaq composite on the 5-minute scale.
I like trendlines because they describe how price has moved and give hints of what will happen.
This chart is an example of that idea. The blue line shows the longer-term trend (although on this scale, it’s very short term). The index tried to pierce it at point A, but failed to do so.
The red line shows a recovery. Everything was fine until the FED made their announcement. My view is that the market would shrug off their words and climb. Instead, the index dropped.
I still believe their worry is overblown, so I’m still thinking that this is a buying opportunity (I bought 2 securities and may buy another tomorrow). I expect a recovery.
The above probabilities (57% close higher) support that belief.
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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:
MMM, ABT, ACN, ACIW, AYI, APD, DOX, AEE, AEL, AFG, APOG, AWI, ARW, ASH, ADP, AVNT, BZH, BERY, BIG, BIO, BIIB, BMRN, BA, CBT, CAL, CPB, CNC, CENX, CHS, CSCO, CLF, CTSH, CL, CMCO, CONN, GLW, CSGS, DECK, ^DJU, ^DJI, BOOM, EZPW, FFIV, FAST, FIS, FCX, GE, GPRO, GES, HBI, HE, HTLD, HL, HSII, HNI, HD, HON, DHI, NSP, ITGR, IPAR, TILE, IVC, JNJ, KALU, KBH, KBAL, KSS, LHX, LZB, LAMR, LEG, MHO, M, MAN, MCHX, MAS, FB, MGEE, MOS, NTAP, NEU, NKE, OMC, OUT, OXM, PAYX, PRFT, PFE, PCG, PNW, POR, PPL, PHM, KWR, RL, RCKY, ROST, SMG, SCCO, SCS, SRDX, TPR, TDOC, TPX, TKR, TOL, SLCA, UPS, VLO, WLK, WMB, WSM, WWW, ITA, IYM, FXI, BOTZ, ICF, IYH, IYZ, ECH, EEM, EWJ, EPP, EWS, EZA, EWY, EWT, THD, TUR, PPA, PBE, XLY, XLP, XLI, XLB, XRT, XAR, UNG, USO, VHT, VIS, 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.
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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
© 2022 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 12,265.38 | ||
Monthly S1 | 12,903.75 | 638.37 | |
Daily S2 | 13,035.19 | 131.44 | |
Weekly S2 | 13,039.33 | 4.14 | Yes! The Weekly S2 is close to the Daily S2. |
Daily S1 | 13,288.66 | 249.32 | |
Weekly S1 | 13,290.73 | 2.07 | Yes! The Weekly S1 is close to the Daily S1. |
Low | 13,392.19 | 101.46 | |
Close | 13,542.12 | 149.93 | |
61.8% Down from Intraday High | 13,625.39 | 83.27 | |
Daily Pivot | 13,645.65 | 20.27 | Yes! The Daily Pivot is close to the 61.8% Down from Intraday High. |
50% Down from Intraday High | 13,697.42 | 51.77 | Yes! The 50% Down from Intraday High is close to the Daily Pivot. |
38.2% Down from Intraday High | 13,769.45 | 72.03 | |
Open | 13,871.77 | 102.32 | |
Daily R1 | 13,899.12 | 27.35 | Yes! The Daily R1 is close to the Open. |
High | 14,002.65 | 103.53 | |
Weekly Pivot | 14,015.63 | 12.98 | Yes! The Weekly Pivot is close to the High. |
Daily R2 | 14,256.11 | 240.48 | |
Weekly R1 | 14,267.03 | 10.91 | Yes! The Weekly R1 is close to the Daily R2. |
Monthly Pivot | 14,402.61 | 135.58 | |
Weekly R2 | 14,991.93 | 589.32 | |
Monthly R1 | 15,040.98 | 49.05 | Yes! The Monthly R1 is close to the Weekly R2. |
Monthly R2 | 16,539.84 | 1,498.86 |
Wednesday 1/26/22. 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.
In my view, this drop is well oversold (meaning it’s time or nearly time to buy). Maybe after tomorrow’s (Wednesday’s) FED meeting the markets will settle down. So if I had cash
to put into the market, I’d be buying. To put it another way, I think the markets will rebound and two years from now, you’ll wish you’d bought. That’s called buy-the-dip.
This chart is bearish. The index has made a swift drop and the CPI signaled a bearish turn soon after it happened (the red vertical bar on the far right of the chart).
Good timing on that signal. However, both the CPI and index are still bearish.
I will say that the indices seem to be turning or trying to turn. It’s fighting to find a bottom. If I had to guess, I think we put in the low yesterday (Monday). I DO expect the markets
to make a big rally tomorrow after the FED meeting. That’s a guess, of course.
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, 44% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 36%.
The fewest was 8% on 03/15/2021.
And the most was 44% on 01/25/2022.
The 459 stocks in my database are down an average of 20% from their yearly high.
A week ago, the average was 17%.
The peak was 8% on 03/15/2021.
And the bottom was 20% on 01/21/2022.
Both the blue and red lines are bearish this week compared to a week ago. No surprise there. I’m still struck by how the red line has been trending lower for months (most of the chart, really)
even as the index has climbed.
That’s profound bearish divergence.
This week, we have two bearish charts and yet I expect a big rally. You don’t see hints of a bullish turn on the charts and world events (covid, inflation, Russia/Ukraine) will continue to
make the markets volatile. In my view, when things look bleak and you feel like selling everything, that’s the time to buy. I may follow my own advice and buy some QQQs other ETF.
I won’t be buying individual stocks because of the risk of them making a huge decline (often due to earnings). But the QQQs have made a nice drop, so it’s like buying it on sale and the
diversified nature of the ETF means you don’t suffer as much from single-stock risk.
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Here’s a symbol list of 89 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AXDX, ADTN, AJRD, AEL, APA, APOG, ARW, BBBY, BOOT, BAH, CENX, CHKP, CHD, CL, CMTL, CONN, COP, CSGS, CTS, XRAY, DVN, BOOM, FAST, FCX, GPS, GL, HP, HON, NSP, IPAR, IBKR, KALU, KBH, KSS, LZB, LAWS, LEG, LMT, LXU, MAN, MRO, MOS, MUR, NBR, NOV, OXY, ORI, OMC, PKE, PDCO, PTEN, PETS, PCG, RGS, REV, RLI, RES, SLB, SMG, SEE, SCCO, SCS, SRDX, RIG, SLCA, VLO, WLK, IEO, IEZ, IHE, IGE, EWM, EZA, PXJ, IXC, XLP. 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 1/25/22. Slider Trading Quiz!
Average gain was 0.7% on 620 occasions.
Average loss was -0.6% on 505 occasions.
Expect the index to close higher 55.1% of the time.
Weekly, since inception on 6/14/2011:
The prediction of the index closing higher has been right 237/423 or 56.0% of the time.
The prediction of the index closing lower has been right 44/93 or 47.3% of the time.
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I show another slider trading quiz featuring Guess: GES.
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Here’s a symbol list of 170 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ABT, ANF, ACIW, AMD, ALK, ALB, ALKS, AEE, AXP, AWI, ARW, ATO, BECN, BERY, BIG, BKH, BAH, BRC, BMY, BBW, CBT, CAL, CX, CNC, CENX, CRL, CHKP, CHD, CSCO, CTXS, CLF, CLX, CTSH, ED, CONN, CR, CRH, CTS, CW, DHR, DECK, XRAY, DDS, DUK, EQT, EXC, FICO, FAST, FOE, FMC, FORM, FCX, GNW, GS, GPRO, THG, HLIT, HE, HTLD, HL, HNI, HON, JBHT, IDA, IEX, ILMN, INCY, NSP, IIIN, IBKR, JKHY, JBLU, JNJ, KFRC, KMB, KSS, LZB, LNC, LMT, LXU, M, MCHX, MAS, MTRX, MRK, MGEE, MYGN, CNR, NCR, NEE, JWN, NOC, ORI, OMC, OTEX, PKG, PKE, PDCO, PAYX, PYPL, PFE, PCG, PICO, PEG, PHM, RLI, RCKY, RES, SEE, SLGN, SO, SCCO, SWN, SRDX, TEVA, TMO, TJX, TRV, UGI, VEEV, VRTX, WRB, XEL, ZBRA, IEZ, IHE, IDU, BOTZ, IYH, EWA, EWO, EWK, EWC, EWQ, EWG, EIS, EWI, EWJ, EWM, EWW, EPP, EWY, EWP, EWD, EWL, TUR, EWU, IEV, MXI, XLP. 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
© 2022 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 32,459.13 | ||
Daily S2 | 32,707.95 | 248.81 | |
Low | 33,150.33 | 442.38 | |
Weekly S2 | 33,319.73 | 169.40 | |
Monthly S1 | 33,411.82 | 92.09 | Yes! The Monthly S1 is close to the Weekly S2. |
Daily S1 | 33,536.22 | 124.41 | Yes! The Daily S1 is close to the Monthly S1. |
61.8% Down from Intraday High | 33,635.72 | 99.50 | Yes! The 61.8% Down from Intraday High is close to the Daily S1. |
50% Down from Intraday High | 33,785.66 | 149.94 | |
Weekly S1 | 33,842.11 | 56.45 | Yes! The Weekly S1 is close to the 50% Down from Intraday High. |
38.2% Down from Intraday High | 33,935.60 | 93.48 | Yes! The 38.2% Down from Intraday High is close to the Weekly S1. |
Daily Pivot | 33,978.61 | 43.01 | Yes! The Daily Pivot is close to the 38.2% Down from Intraday High. |
Open | 34,070.61 | 92.00 | Yes! The Open is close to the Daily Pivot. |
Close | 34,364.50 | 293.89 | |
High | 34,420.99 | 56.49 | Yes! The High is close to the Close. |
Weekly Pivot | 34,751.94 | 330.95 | |
Daily R1 | 34,806.88 | 54.95 | Yes! The Daily R1 is close to the Weekly Pivot. |
Monthly Pivot | 35,182.23 | 375.35 | |
Daily R2 | 35,249.27 | 67.03 | Yes! The Daily R2 is close to the Monthly Pivot. |
Weekly R1 | 35,274.32 | 25.06 | Yes! The Weekly R1 is close to the Daily R2. |
Monthly R1 | 36,134.92 | 860.59 | |
Weekly R2 | 36,184.15 | 49.23 | Yes! The Weekly R2 is close to the Monthly R1. |
Monthly R2 | 37,905.33 | 1,721.18 |
Monday 1/24/22. Market Monday: The Week Ahead
My Prediction
There’s not a lot to say about the chart you see here. It’s a picture of the Dow industrials on the daily scale.
I drew two trendlines, the first one on the bottom. It ends at A, today’s (Friday’s) low price. It suggests the index will turn upward here because of trendline support.
However, we have to factor in world events. Russia is poised to invade Ukraine and I expect that will happen. If it does, the indices will suffer, at least for a short time (days, not weeks).
We are still struggling with Covid and inflation, rising interest rates and other things which don’t come to mind as I write this.
The top trendline isn’t important because, at least for what’s shown, it only connects 2 peaks.
So let’s wait and see if the index turns upward.
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.
Tuesday: Down 543.34 points.
Wednesday: Down 339.82 points.
Thursday: Down 313.26 points.
Friday: Down 450.02 points.
Saturday: Holiday or other weird event!
For the Week…
The Dow industrials were down 1646.44 points or 4.6%.
The Nasdaq composite was down 1124.83 points or 7.6%.
The S&P 500 index was down 264.91 points or 5.7%.
Year to Date…
Dow Industrials
7.3% down from the high of 36,952.65 on 01/05/2022.
0.1% up from the low of 34,229.55 on 01/21/2022.
Nasdaq
13.1% down from the high of 15,852.14 on 01/04/2022.
0.0% up from the low of 13,764.24 on 01/21/2022.
S&P 500
8.7% down from the high of 4,818.62 on 01/04/2022.
0.1% up from the low of 4,395.34 on 01/21/2022.
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.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 33,797 | 34,031 | 34,464 | 34,698 | 35,131 |
Weekly | 33,287 | 33,776 | 34,719 | 35,208 | 36,151 |
Monthly | 32,426 | 33,346 | 35,149 | 36,069 | 37,872 |
S&P500 (^GSPC): Daily | 4,330 | 4,364 | 4,429 | 4,463 | 4,528 |
Weekly | 4,238 | 4,318 | 4,475 | 4,555 | 4,712 |
Monthly | 4,114 | 4,256 | 4,537 | 4,679 | 4,961 |
Nasdaq (^IXIC): Daily | 13,494 | 13,632 | 13,902 | 14,039 | 14,309 |
Weekly | 13,115 | 13,442 | 14,091 | 14,418 | 15,068 |
Monthly | 12,341 | 13,055 | 14,478 | 15,192 | 16,615 |
- 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 either underway or should be starting soon. The sessions could be more volatile.
Here’s a symbol list of 142 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
DDD, ADTN, APD, AMZN, AMED, AEE, AXP, ABC, ANTM, APA, APOG, AWI, ADSK, AVA, BBBY, BERY, BBY, BIG, BKNG, BMY, BBW, CBT, CAL, CLS, CNC, CNP, CENX, CHKP, CSCO, CLNE, CLF, CTSH, CR, CRH, CTS, CW, DECK, DVN, EXP, EQT, EXC, FICO, FDX, FOE, FORM, FTNT, FCX, GPN, GL, GS, HLIT, HL, HSIC, HNI, HURC, INFN, IIIN, IBKR, IPG, ISRG, JBLU, KFRC, KSS, LDOS, LMT, LXU, M, MRO, MCHX, MAS, MRK, MOS, MUR, MYGN, NFLX, NJR, NEE, JWN, NWPX, OMC, PAYX, PYPL, PRFT, PFE, PFG, PRU, RJF, RLI, RES, SLB, SEIC, SWN, SUM, TJX, TZOO, SLCA, UNM, WRB, WMT, WLK, IYM, IAI, IYC, IEO, FDN, BOTZ, ICF, IAT, EWA, EWO, EWK, EWC, ECH, EWQ, EWG, EIS, EWI, EWP, EWD, EWT, PPA, ROBO, IEV, MXI, XLI, XLB, 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.
The below industries were the best (rank 1) or worst performing of those I follow.
|
— Thomas Bulkowski
Friday 1/21/22. Pattern Trading Setups for the Weekend.
$ $ $
Here’s a symbol list of 135 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AXDX, ADBE, AA, ALKS, AXP, AFG, APH, ANTM, APOG, ADSK, BCPC, BECN, BERY, BBY, BIG, BKH, BA, BOOT, BRC, BBW, CAL, CLS, CHKP, CLF, CONN, GLW, COST, CRH, CTS, CMI, DECK, D, DTE, EBAY, EQT, RE, FICO, FAST, FIVN, FLS, GS, EVRG, HTLD, HL, HELE, HNI, DHI, NSP, IBP, IIIN, INTC, IPG, JKHY, KELYA, KFRC, KSS, LZB, LDOS, LEN, LMT, LXU, M, MCHX, MAS, MDC, FB, MGEE, MS, MYGN, NFG, NFLX, NTGR, NEU, NEE, JWN, NWPX, OMC, PDCO, PETS, PFE, PFG, RGS, RLI, RES, SLGN, SO, SWN, SCS, SUM, TGT, TKR, TJX, TOL, TZOO, UGI, VFC, WMB, WWW, IYM, ITB, IHE, IDU, FXI, ICF, SLV, EWA, EWZ, ECH, EWQ, EWH, EWI, EZA, EWL, PEJ, PJP, IXN, XLF, XLV, XLI. 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
Symbol | Chart Pattern | Bullish Bearish |
Start | End | Industry |
MMM | Double Top, Eve and Eve | 01/05/2022 | 01/13/2022 | Diversified Co. | |
ACN | Double Top, Adam and Eve | 12/16/2021 | 12/29/2021 | IT Services | |
APD | Double Top, Adam and Adam | 12/15/2021 | 01/05/2022 | Chemical (Diversified) | |
ALB | Pipe top | 01/03/2022 | 01/10/2022 | Chemical (Diversified) | |
AXP | Pipe top | 01/03/2022 | 01/10/2022 | Financial Services | |
AAPL | Double Top, Eve and Eve | 12/13/2021 | 01/04/2022 | Computers and Peripherals | |
AWI | Double Top, Adam and Eve | 12/08/2021 | 01/04/2022 | Building Materials | |
BCPC | Triple top | 11/23/2021 | 12/30/2021 | Chemical (Specialty) | |
BKNG | Double Bottom, Eve and Adam | 12/01/2021 | 12/15/2021 | Internet | |
BRC | Head-and-shoulders top | 12/07/2021 | 01/14/2022 | Chemical (Diversified) | |
CENX | Broadening top, right-angled and ascending | 12/23/2021 | 01/20/2022 | Metals and Mining (Div.) | |
CTXS | Diamond top | 12/28/2021 | 01/14/2022 | Computer Software and Svcs | |
CLF | Pipe top | 01/03/2022 | 01/10/2022 | Metals and Mining (Div.) | |
CRH | Double Top, Adam and Adam | 01/04/2022 | 01/13/2022 | Cement and Aggregates | |
DTE | Triangle, ascending | 12/16/2021 | 01/13/2022 | Electric Utility (Central) | |
DUK | Triple top | 12/17/2021 | 01/10/2022 | Electric Utility (East) | |
EMR | Double Top, Adam and Eve | 01/05/2022 | 01/13/2022 | Computers and Peripherals | |
EFX | Double Top, Eve and Eve | 12/13/2021 | 12/29/2021 | Information Services | |
GPS | Double Top, Eve and Adam | 01/05/2022 | 01/13/2022 | Apparel | |
GS | Pipe top | 01/03/2022 | 01/10/2022 | Securities Brokerage | |
GOOGL | Three Falling Peaks | 11/19/2021 | 12/28/2021 | Internet | |
GGG | Double Top, Adam and Eve | 12/13/2021 | 12/30/2021 | Machinery | |
GFF | Double Top, Adam and Eve | 11/15/2021 | 12/29/2021 | Building Materials | |
GES | Double Top, Eve and Adam | 12/08/2021 | 01/03/2022 | Apparel | |
HLIT | Double Top, Adam and Adam | 12/27/2021 | 01/04/2022 | Telecom. Equipment | |
HL | Pipe bottom | 01/03/2022 | 01/10/2022 | Metals and Mining (Div.) | |
HSII | Head-and-shoulders top | 12/27/2021 | 01/13/2022 | Human Resources | |
HELE | Triple top | 12/16/2021 | 01/06/2022 | Toiletries/Cosmetics | |
HD | Double Top, Eve and Eve | 12/06/2021 | 01/03/2022 | Retail Building Supply | |
HOV | Double Top, Adam and Eve | 12/13/2021 | 12/28/2021 | Homebuilding | |
HUBG | Pipe top | 12/27/2021 | 01/03/2022 | Trucking/Transp. Leasing | |
IEX | Triple top | 11/16/2021 | 01/05/2022 | Machinery | |
IDXX | Triple top | 10/29/2021 | 12/30/2021 | Drug | |
INTC | Double Top, Adam and Eve | 01/05/2022 | 01/12/2022 | Semiconductor | |
IPG | Double Top, Adam and Adam | 01/05/2022 | 01/13/2022 | Advertising | |
INTU | Three Falling Peaks | 11/19/2021 | 12/28/2021 | Computer Software and Svcs | |
ISRG | Double Top, Eve and Eve | 11/05/2021 | 12/29/2021 | Medical Supplies | |
JNJ | Double Top, Adam and Eve | 12/16/2021 | 01/07/2022 | Medical Supplies | |
KELYA | Double Top, Adam and Adam | 01/05/2022 | 01/13/2022 | Human Resources | |
KBAL | Double Top, Eve and Adam | 01/05/2022 | 01/13/2022 | Furn/Home Furnishings | |
KSS | Big W | 12/20/2021 | 01/10/2022 | Retail Store | |
LAWS | Pipe top | 12/27/2021 | 01/03/2022 | Metal Fabricating | |
LOW | Double Top, Adam and Eve | 12/13/2021 | 01/04/2022 | Retail Building Supply | |
MTSI | Triple top | 11/22/2021 | 12/28/2021 | Semiconductor | |
MLM | Double Top, Eve and Eve | 12/16/2021 | 01/04/2022 | Cement and Aggregates | |
MTRX | Double Top, Eve and Eve | 01/06/2022 | 01/13/2022 | Oilfield Svcs/Equipment | |
MDC | Triple top | 12/13/2021 | 01/13/2022 | Homebuilding | |
MU | Double Top, Eve and Adam | 01/05/2022 | 01/13/2022 | Semiconductor | |
MS | Pipe top | 01/03/2022 | 01/10/2022 | Securities Brokerage | |
JWN | Double Top, Eve and Adam | 01/04/2022 | 01/13/2022 | Retail Store | |
OLN | Rectangle bottom | 12/02/2021 | 01/19/2022 | Chemical (Basic) | |
ASGN | Triple top | 11/23/2021 | 01/04/2022 | Human Resources | |
OUT | Pipe top | 12/27/2021 | 01/03/2022 | Advertising | |
PPG | Head-and-shoulders top | 12/16/2021 | 01/13/2022 | Chemical (Diversified) | |
QCOM | Triple top | 12/16/2021 | 01/13/2022 | Telecom. Equipment | |
RJF | Broadening top | 11/03/2021 | 12/29/2021 | Securities Brokerage | |
RLI | Double Top, Adam and Eve | 12/16/2021 | 01/04/2022 | Insurance (Prop/Casualty) | |
SIGI | Three Falling Peaks | 12/16/2021 | 01/13/2022 | Insurance (Prop/Casualty) | |
SWN | Double Top, Adam and Adam | 12/30/2021 | 01/12/2022 | Natural Gas (Diversified) | |
SUM | Triple top | 11/16/2021 | 01/05/2022 | Cement and Aggregates | |
TJX | Double Top, Adam and Eve | 11/17/2021 | 01/04/2022 | Retail Store | |
TOL | Three Falling Peaks | 12/13/2021 | 01/13/2022 | Homebuilding | |
TSCO | Double Top, Eve and Eve | 12/16/2021 | 01/03/2022 | Retail Building Supply | |
TREX | Double Top, Eve and Eve | 12/08/2021 | 12/28/2021 | Building Materials | |
VFC | Three Falling Peaks | 11/16/2021 | 01/05/2022 | Apparel | |
VMI | Pipe top | 12/13/2021 | 12/13/2021 | Metal Fabricating | |
VC | Double Top, Adam and Adam | 01/05/2022 | 01/13/2022 | Electronics | |
WSO | Double Top, Eve and Eve | 12/16/2021 | 01/03/2022 | Retail Building Supply | |
WDAY | Three Falling Peaks | 11/17/2021 | 12/27/2021 | Computer Software and Svcs | |
QTEC | Double Top, Eve and Eve | 11/19/2021 | 12/28/2021 | Electronics |
Thursday 1/20/22. Cryptocurrency DOGE-USD
Average gain was 1.4% on 87 occasions.
Average loss was -1.2% on 83 occasions.
Expect the index to close higher 51.2% of the time.
Weekly, since inception on 6/14/2011:
The prediction of the index closing higher has been right 234/408 or 57.4% of the time.
The prediction of the index closing lower has been right 60/127 or 47.2% 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 cryptocurrency DOGE-USD on the daily scale.
The chart shows a double top at AB, confirmed when DOGE closed below the valley between the two peaks. I show that as the horizontal red line, and it happens at C.
You’ll notice the two shorter peaks to the left and right of the letter D. That potential double top didn’t confirm, and the currency continued higher. That’s how unconfirmed patterns work.
After viewing cryptocurrencies for several months now, it appears that chart patterns work well with them. What we see coming now is a potential double bottom (the two lowest valleys
on the chart). It hasn’t confirmed yet, but it suggests an upward move is coming. We have to wait for confirmation to be sure.
$ $ $
Here’s a symbol list of 131 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ALKS, ADS, AMZN, AXP, AIG, AMN, ANTM, AON, ACGL, AGO, ATO, ADP, AXS, BMI, BBBY, BIG, BMRN, BA, BBW, BG, CDNS, CALM, CLS, CNC, CHKP, CHS, CTXS, CLNE, CLF, CNA, CNO, CMI, DECK, RE, EVH, EXPD, EZPW, FDX, FLS, FWRD, FRD, GS, HAYN, HL, HD, DHI, IEX, TILE, ISRG, JKHY, JAZZ, JBLU, KBAL, LEN, LMT, LXU, MTSI, MNDT, MCHX, MDC, MS, MYGN, CNR, NJR, JWN, OMC, OTEX, PDCO, PAYX, PYPL, PRFT, PLXS, PPG, PHM, RMBS, RGA, REV, RES, SWN, SCS, SUM, SNPS, TKR, TOL, TRV, TZOO, UGI, UNM, VRSN, VC, VMC, WMB, XEL, ZBRA, IAI, ITB, IEZ, IHE, BOTZ, IAT, IYZ, SLV, EWO, EWK, EWZ, EIS, EWI, EWJ, EWM, EWY, EWP, TUR, DBA, ROBO, ILF, GLD. 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
© 2022 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 13,552.75 | ||
Weekly S2 | 13,941.04 | 388.29 | |
Monthly S1 | 13,946.50 | 5.46 | Yes! The Monthly S1 is close to the Weekly S2. |
Daily S2 | 14,116.36 | 169.86 | |
Weekly S1 | 14,140.65 | 24.29 | Yes! The Weekly S1 is close to the Daily S2. |
Daily S1 | 14,228.31 | 87.66 | |
Low | 14,331.65 | 103.34 | |
Close | 14,340.26 | 8.61 | Yes! The Close is close to the Low. |
Daily Pivot | 14,443.60 | 103.34 | |
61.8% Down from Intraday High | 14,456.66 | 13.06 | Yes! The 61.8% Down from Intraday High is close to the Daily Pivot. |
50% Down from Intraday High | 14,495.27 | 38.61 | |
38.2% Down from Intraday High | 14,533.88 | 38.62 | |
Daily R1 | 14,555.55 | 21.67 | Yes! The Daily R1 is close to the 38.2% Down from Intraday High. |
Open | 14,582.22 | 26.67 | Yes! The Open is close to the Daily R1. |
High | 14,658.89 | 76.67 | |
Weekly Pivot | 14,729.84 | 70.95 | |
Daily R2 | 14,770.84 | 41.00 | |
Monthly Pivot | 14,923.99 | 153.15 | |
Weekly R1 | 14,929.45 | 5.46 | Yes! The Weekly R1 is close to the Monthly Pivot. |
Monthly R1 | 15,317.74 | 388.29 | |
Weekly R2 | 15,518.64 | 200.90 | |
Monthly R2 | 16,295.23 | 776.59 |
Wednesday 1/19/22. A Look At Indicators
Here’s a plumbing problem I faced today (Tuesday).
I show the equipment involved for a pressure test of the sewer line in the pic (this was taken years ago).
You drop the balloon (the black ball at the end of the yellow pipe) down the clean out, inflate it, fill the pipe toward the house with water and see if the water doesn’t drain away (it should hold steady).
After I finished the test, when I tried to remove the balloon from the clean out, I twisted the yellow pipe the wrong way. It unscrewed the balloon and it’s now in the clean out (or so I thought).
Because the clean out had a break before, there’s a gasket on the left end. So I cut the clean out pipe and removed the section from the gasket to the clean out, hoping to retrieve my balloon.
Know what I found? Nothing. The balloon appears to have moved toward the street. The balloon is a bit smaller than 3″ around and the pipe it’s now in is 4″. So it
can float toward the street. (I ran two snakes down the clean outs and didn’t hit the balloon, so it must have floated toward the street).
Update: This morning I was in Home Depot shopping for a transition gasket and a plumber (not a Home Depot employee) asked if I needed help. I told him my situation and he said that
the balloon will just float away.
So this morning (Wednesday), before it gets cold, I’ll run a snake down the 4″ line toward the street (to push the balloon down the pipe) and then bottle up the mess I created. And hope it doesn’t plug.
$ $ $
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 is still bearish as the chart shows with the red vertical line on the far right of the chart. The indicator line is approaching zero, too. That’s bearish.
The 2022 forecast (slide 5) suggested that the first few weeks of the year would be weak, but the dip should not have taken us down so far.
The impending rise in interest rates, Omicron and Covid, and inflation all played their part to drive the markets down. However, I’m still optimistic that we’ll see the index rise.
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, 36% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 32%.
The fewest was 8% on 03/15/2021.
And the most was 39% on 12/01/2021.
The 459 stocks in my database are down an average of 17% from their yearly high.
A week ago, the average was 16%.
The peak was 8% on 03/15/2021.
And the bottom was 19% on 12/01/2021.
The red line, my favorite, took a steep dive today (Tuesday). Both lines are more bearish today than they were a week ago.
Much to my surprise, the downtrend that began in May seems to have continued. It’s hard to see but the red line hasn’t dropped below the prior valley (in mid December). So there’s hope
that this drop will form a three rising valleys type pattern and lead to another rise. That’s promising.
Even after such a large drop, I’m still bullish. I’m still looking for the indices to recover.
$ $ $
Here’s a symbol list of 124 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ACN, APD, AMZN, AFG, AIG, APH, AON, ACGL, AWI, AVA, BMI, BSET, BBY, BMRN, BOOT, CDNS, CHKP, CSCO, CTXS, CLNE, CLX, CNA, CAG, GLW, COST, CCRN, EXP, EMN, EFX, EQT, EL, EXC, FAST, IT, GS, GGG, GFF, HSC, HAYN, HTLD, HD, NSP, IIIN, ISRG, JKHY, JAZZ, KBAL, KSS, LAWS, LEG, LOW, MTSI, M, MNDT, MLM, MCO, MS, MYGN, CNR, NEU, NEE, NKE, JWN, NWPX, OMC, PDCO, PAYX, PYPL, PPG, KWR, RGS, RGA, REV, ROK, ROST, RES, SIGI, SWN, SNPS, TPX, TJX, TZOO, TG, TREX, SLCA, VRSN, WAT, WMB, IAI, IYC, IHE, IDU, DDM, BOTZ, ICF, IAT, IYZ, SLV, EWA, EWO, EEM, EWJ, EWM, EWY, EWD, THD, DBA, PXJ, PHO, ROBO, MXI, GLD, XHB, XLU, 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.
— Thomas Bulkowski
Tuesday 1/18/22. Slider Trading Quiz!
Average gain was 0.6% on 352 occasions.
Average loss was -0.7% on 330 occasions.
Expect the index to close higher 51.6% of the time.
Weekly, since inception on 6/14/2011:
The prediction of the index closing higher has been right 237/422 or 56.2% of the time.
The prediction of the index closing lower has been right 44/93 or 47.3% of the time.
$ $ $
I show another slider trading quiz featuring Goodrich: GR.
$ $ $
Here’s a symbol list of 143 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ACN, AEIS, AFL, APD, AKAM, AEL, ABC, AMGN, AON, AMAT, ARCB, AWI, AGO, AVA, BLL, BOOT, CX, CHKP, CVX, CMCO, COST, CROX, CCRN, DECK, BOOM, EIX, EFX, EL, EXC, FDS, FAST, FORM, IT, GD, GL, GPRO, GGG, GFF, HLIT, HTLD, HD, HUBG, IDA, IEX, NSP, IPAR, IBKR, ISRG, JKHY, KLIC, LRCX, LAWS, LNC, LOW, LXU, MLM, MU, MLKN, MCO, NBR, NEU, NKE, JWN, OXY, OGE, OMC, OUT, OXM, PDCO, PTEN, PYPL, PCG, PINC, KWR, RGS, REV, ROK, ROST, SCHW, SAIC, SEE, SHW, SWN, SCS, TPX, TEVA, TJX, RIG, TREX, SLCA, UGI, UPS, VLO, VRSN, VMC, WERN, WLK, WEX, WSM, IYM, IYC, IHI, IEO, IEZ, IHE, QTEC, FXL, BOTZ, ICF, EWH, EWJ, EWM, EPP, EWD, EWL, DBA, PXJ, PHO, IEV, MXI, GLD, XLK, XLU. 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
© 2022 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 33,556.17 | ||
Monthly S1 | 34,733.99 | 1,177.82 | |
Weekly S2 | 35,147.96 | 413.98 | |
Daily S2 | 35,494.97 | 347.00 | |
Weekly S1 | 35,529.89 | 34.92 | Yes! The Weekly S1 is close to the Daily S2. |
Low | 35,641.49 | 111.60 | |
Daily S1 | 35,703.39 | 61.90 | |
61.8% Down from Intraday High | 35,777.08 | 73.69 | |
50% Down from Intraday High | 35,818.96 | 41.88 | |
Monthly Pivot | 35,843.32 | 24.36 | Yes! The Monthly Pivot is close to the 50% Down from Intraday High. |
Daily Pivot | 35,849.91 | 6.59 | Yes! The Daily Pivot is close to the Monthly Pivot. |
38.2% Down from Intraday High | 35,860.84 | 10.93 | Yes! The 38.2% Down from Intraday High is close to the Daily Pivot. |
Close | 35,911.81 | 50.96 | |
High | 35,996.43 | 84.62 | |
Open | 35,996.43 | 0.00 | Yes! The Open is close to the High. |
Weekly Pivot | 36,021.88 | 25.45 | Yes! The Weekly Pivot is close to the Open. |
Daily R1 | 36,058.33 | 36.45 | |
Daily R2 | 36,204.85 | 146.52 | |
Weekly R1 | 36,403.80 | 198.95 | |
Weekly R2 | 36,895.80 | 492.00 | |
Monthly R1 | 37,021.14 | 125.34 | |
Monthly R2 | 38,130.47 | 1,109.33 |
Monday 1/17/22. Feeding ThePatternSite.
Today is a trading holiday in the US.
If you wish to support the website, then try one of these options.
- 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.
- 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. - 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 1/14/22. Pattern Trading Setups for the Weekend.
$ $ $
Here’s a symbol list of 130 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AXDX, AKAM, ALKS, AEE, AXP, AMN, AWI, ASH, AGO, AVA, BCPC, BLL, BECN, BOOT, CHKP, CNO, CMCO, COST, COTY, CROX, CCK, CTS, DDS, DTE, EMN, EPAM, EL, EZPW, FDS, FORM, IT, GNW, GOOGL, HD, HOV, HUBG, JBHT, ILMN, IPAR, IBKR, IVC, JKHY, JAZZ, JBLU, KBH, KLAC, LAWS, LXU, MAN, MAS, MDC, MCO, MS, NKE, OMCL, OMC, OTEX, OUT, OXM, PANW, PDCO, PTEN, PPL, PINC, PHM, DGX, RMBS, RJF, REV, ROG, SAIC, SXI, SCS, TDC, TER, TEVA, TXN, TOL, TSCO, VRSN, WERN, WLK, WMB, WDAY, IYM, IAI, IHI, IEO, IEZ, IHE, ICF, IGE, EWA, EWO, EWC, EWQ, EWG, EWH, EWJ, EWM, EPP, EWS, EWP, EWD, EWL, EWT, EWU, DBA, PBE, PXJ, IEV, IXC, ILF, SSO, MXI, XLP, USO, 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.
$ $ $
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
Symbol | Chart Pattern | Bullish Bearish |
Start | End | Industry |
ASH | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Chemical (Basic) | |
BSET | Ugly double bottom | 12/01/2021 | 12/20/2021 | Furn/Home Furnishings | |
BA | Double Bottom, Adam and Adam | 12/01/2021 | 12/20/2021 | Aerospace/Defense | |
BOOT | Pipe top | 12/27/2021 | 01/03/2022 | Shoe | |
CCK | Broadening bottom | 11/30/2021 | 12/31/2021 | Packaging and Container | |
DRQ | Triangle, symmetrical | 12/08/2021 | 12/27/2021 | Oilfield Svcs/Equipment | |
BOOM | Double Bottom, Eve and Eve | 12/02/2021 | 12/15/2021 | Metal Fabricating | |
EPAM | Pipe top | 12/06/2021 | 12/13/2021 | IT Services | |
FAST | Double Top, Eve and Eve | 12/13/2021 | 12/30/2021 | Retail Building Supply | |
HSII | Ugly double bottom | 12/20/2021 | 12/31/2021 | Human Resources | |
HP | Ugly double bottom | 12/02/2021 | 12/20/2021 | Petroleum (Producing) | |
HD | Pipe top | 12/27/2021 | 01/03/2022 | Retail Building Supply | |
HON | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Aerospace/Defense | |
DHI | Double Top, Adam and Eve | 12/13/2021 | 12/31/2021 | Homebuilding | |
NSP | Pipe top | 12/27/2021 | 01/03/2022 | Human Resources | |
IBP | Triple top | 11/22/2021 | 12/28/2021 | Retail Building Supply | |
IPAR | Pipe top | 12/27/2021 | 01/03/2022 | Toiletries/Cosmetics | |
JBLU | Pipe bottom | 11/22/2021 | 11/29/2021 | Air Transport | |
JNJ | Ugly double bottom | 11/30/2021 | 12/21/2021 | Medical Supplies | |
KALU | Double Bottom, Eve and Eve | 11/30/2021 | 12/20/2021 | Metals and Mining (Div.) | |
LHX | Head-and-shoulders bottom | 12/01/2021 | 01/05/2022 | Aerospace/Defense | |
LH | Double Top, Eve and Eve | 12/16/2021 | 12/31/2021 | Medical Services | |
LEN | Double Top, Eve and Eve | 12/13/2021 | 12/29/2021 | Homebuilding | |
LLY | Double Top, Adam and Eve | 12/16/2021 | 12/30/2021 | Drug | |
MHO | Pipe top | 12/06/2021 | 12/13/2021 | Homebuilding | |
MTRX | Pipe bottom | 12/20/2021 | 12/27/2021 | Oilfield Svcs/Equipment | |
FB | Ugly double bottom | 12/03/2021 | 12/20/2021 | E-Commerce | |
MCO | Triangle, ascending | 11/16/2021 | 12/31/2021 | Information Services | |
OMC | Cup with handle | 10/15/2021 | 01/13/2022 | Advertising | |
OXM | Pipe top | 12/27/2021 | 01/03/2022 | Apparel | |
PCG | Triple bottom | 12/03/2021 | 01/06/2022 | Electric Utility (West) | |
ROK | Triple top | 11/22/2021 | 12/30/2021 | Diversified Co. | |
SLB | Double Bottom, Eve and Adam | 12/02/2021 | 12/20/2021 | Oilfield Svcs/Equipment | |
SEIC | Ugly double bottom | 12/20/2021 | 01/03/2022 | IT Services | |
SWN | Triangle, symmetrical | 12/02/2021 | 01/11/2022 | Natural Gas (Diversified) | |
SCS | Ugly double bottom | 12/20/2021 | 01/11/2022 | Furn/Home Furnishings | |
TEVA | Broadening bottom | 12/03/2021 | 01/13/2022 | Drug | |
TMO | Triple top | 11/26/2021 | 12/31/2021 | Precision Instrument | |
TOL | Pipe top | 12/06/2021 | 12/13/2021 | Homebuilding | |
WSO | Pipe top | 12/06/2021 | 12/13/2021 | Retail Building Supply | |
WU | Head-and-shoulders bottom | 11/03/2021 | 12/20/2021 | Financial Services |
Thursday 1/13/22. Intraday Market Direction: Nasdaq
Average gain was 0.7% on 405 occasions.
Average loss was -0.8% on 293 occasions.
Expect the index to close higher 58.0% of the time.
Weekly, since inception on 6/14/2011:
The prediction of the index closing higher has been right 234/407 or 57.5% of the time.
The prediction of the index closing lower has been right 60/127 or 47.2% 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 horizontal line at A joining B. It shows overhead resistance and underlying support circling around that line.
At A, we see the index bumping up against overhead resistance. At B, it’s less clear if it’s support or resistance. What it shows is that the index is hung up at the line.
Will it make its move? Certainly, but when and in what direction, I don’t know. My feeling is the index will move higher. It was trending up going into today’s (Wednesday’s) move.
The above probabilities also support a move upward.
$ $ $
Here’s a symbol list of 136 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AXDX, AEIS, DOX, AEO, AEP, AXP, ANIK, APA, AMAT, AVY, AXS, BLL, BIIB, BOOT, BG, CALM, CLS, CHD, CINF, CLX, COTY, CRH, CCK, CMI, CW, XRAY, DFS, ^DJI, DRQ, EMN, EBAY, EIX, EFX, EVH, EZPW, FIS, FIVN, FORM, FWRD, GIS, GNW, GL, GS, GOOGL, GES, HSY, HD, HON, HUBG, JBHT, IPAR, IVC, NVTA, JKHY, JAZZ, JNJ, KALU, K, KFRC, KLAC, KLIC, LAMR, LAWS, LOW, MAN, MRTN, MAS, MS, MOS, CNR, NTGR, NEU, NOC, NUS, ORI, OMC, OUT, OXM, PDCO, PTEN, PETS, PICO, PHM, DGX, RL, REV, RES, SLB, SAIC, SMG, SHW, SLGN, SCCO, SR, SXI, TDC, TEVA, TMO, TSCO, TZOO, TG, TREX, SLCA, UNM, V, WRB, WERN, WSM, IAI, DDM, FXI, ICF, SLV, EWO, ECH, EEM, EWG, EWH, EWS, EZA, EWY, TUR, EWU, PPA, PBE, PJP, IXC, ILF, 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
© 2022 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 14,275.20 | ||
Weekly S2 | 14,331.54 | 56.34 | |
Monthly S1 | 14,731.80 | 400.25 | |
Weekly S1 | 14,759.97 | 28.17 | |
Daily S2 | 15,006.50 | 246.53 | |
Daily S1 | 15,097.44 | 90.95 | |
Low | 15,117.29 | 19.85 | Yes! The Low is close to the Daily S1. |
Close | 15,188.39 | 71.10 | |
61.8% Down from Intraday High | 15,194.35 | 5.96 | Yes! The 61.8% Down from Intraday High is close to the Close. |
Daily Pivot | 15,208.24 | 13.88 | Yes! The Daily Pivot is close to the 61.8% Down from Intraday High. |
50% Down from Intraday High | 15,218.16 | 9.92 | Yes! The 50% Down from Intraday High is close to the Daily Pivot. |
38.2% Down from Intraday High | 15,241.96 | 23.80 | |
Open | 15,263.10 | 21.13 | |
Daily R1 | 15,299.18 | 36.08 | |
Weekly Pivot | 15,306.05 | 6.87 | Yes! The Weekly Pivot is close to the Daily R1. |
Monthly Pivot | 15,316.63 | 10.58 | Yes! The Monthly Pivot is close to the Weekly Pivot. |
High | 15,319.03 | 2.40 | Yes! The High is close to the Monthly Pivot. |
Daily R2 | 15,409.98 | 90.95 | |
Weekly R1 | 15,734.48 | 324.50 | |
Monthly R1 | 15,773.23 | 38.75 | |
Weekly R2 | 16,280.56 | 507.34 | |
Monthly R2 | 16,358.06 | 77.50 |
Wednesday 1/12/22. 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 indicator turned bearish (vertical red bar on the far right of the chart) a week ago. Because a signal can change for up to a week, it appears the signal won’t disappear.
The indicator near the bottom of the chart shows it ticking up today (Tuesday). That’s good for bulls, and it shows that the markets should turn upward.
But as I mentioned, that slight uptick could be bogus. We’ll have to wait and see.
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, 29% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 24%.
The fewest was 8% on 03/15/2021.
And the most was 39% on 12/01/2021.
The 459 stocks in my database are down an average of 15% from their yearly high.
A week ago, the average was 14%.
The peak was 8% on 03/15/2021.
And the bottom was 19% on 12/01/2021.
The red line, which is the more sensitive of the two, showed a big drop from the last week.
That’s bearish. Even the more staid blue line dropped this week.
However, if you look at the red line, notice that the valleys are forming higher lows. I hope that makes sense. Each low is above the prior one, at least since December. So I view
that development as bullish.
Even though this week showed weakness, the larger picture is bullish. Along with the prior chart, which is bullish, too, it looks like the market should rise over the next week.
$ $ $
Here’s a symbol list of 121 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, ACIW, ADBE, ADTN, AEIS, AES, AKAM, AA, ADS, AEO, AMWD, ABC, AMN, ANTM, AMAT, ARW, AVY, AXS, BLL, BA, BKNG, BOOT, BBW, BG, CAL, CLS, CENX, CRL, CLF, CTSH, CCRN, DHR, DDS, DTE, FIS, FISV, FLEX, FORM, FDP, GIS, GNW, GOOGL, GES, HAYN, HTLD, HD, HUBG, JBHT, IDA, ILMN, NSP, ITGR, IPAR, JKHY, K, KFRC, LH, LAWS, LLY, LOW, LXU, MANH, MAS, MSFT, MS, MUR, NEU, NKE, OMC, OUT, OMI, OXM, PKG, PDCO, PETS, PCG, PGR, PHM, KWR, RES, CRM, SEE, NOW, SLGN, SWN, SNPS, TECH, TFX, TDC, TXN, TSCO, TG, VEEV, WERN, WLK, WWW, WDAY, IHE, DDM, ICF, IYH, IHF, ECH, EEM, EWM, EWS, EZA, DBA, PBE, PEJ, GLD, XLV, XAR, 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.
— Thomas Bulkowski
Tuesday 1/11/22. Slider Trading Quiz! General Electric
Average gain was 0.6% on 472 occasions.
Average loss was -0.7% on 460 occasions.
Expect the index to close higher 50.6% of the time.
Weekly, since inception on 6/14/2011:
The prediction of the index closing higher has been right 236/421 or 56.1% of the time.
The prediction of the index closing lower has been right 44/93 or 47.3% of the time.
$ $ $
I show another slider trading quiz featuring General Electric: GE
$ $ $
Here’s a symbol list of 152 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
DDD, ANF, AYI, AES, ALKS, AYX, AMZN, AEE, AMN, AON, AMAT, ARW, ADP, AVA, BMI, BIG, BBW, BG, CALM, CF, CRL, CHS, CLNE, CTSH, ED, COST, COTY, CRH, CCRN, CW, DECK, DDS, D, EMR, WIRE, EPAM, EFX, EL, EVH, XOM, FAST, FIS, FDP, IT, GE, GNW, GPN, EVRG, GES, HSC, HAYN, HQY, HTLD, HSII, HSIC, HD, IDA, IEX, ILMN, NSP, ITGR, TILE, IPG, IPI, JKHY, JAZZ, KFRC, KSS, LHX, LRCX, LAMR, LDOS, LNC, LOW, LXU, MNDT, MCHX, MLM, MA, MTRX, FB, MU, MCO, MUR, MYGN, NBR, NFG, CNR, NTGR, NJR, NEU, NKE, OMC, ASGN, OMI, PKG, PTEN, PAYX, PRFT, PINC, PGR, KWR, QCOM, RL, ROST, SEE, SWN, SCS, SUM, SRDX, TPR, TPX, TER, TEVA, TJX, TREX, V, VC, WRB, WSO, WU, WLK, WOLF, WWW, IYC, IHI, BOTZ, ICF, EWA, EWG, EWD, EWL, TUR, DBA, PHO, ROBO, IXC, XLY, XLF, XHB, XRT, VIS. 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
© 2022 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 33,073.95 | ||
Monthly S1 | 34,571.41 | 1,497.46 | |
Daily S2 | 35,426.10 | 854.69 | |
Weekly S2 | 35,536.56 | 110.46 | |
Low | 35,639.96 | 103.40 | |
Daily S1 | 35,747.48 | 107.52 | |
Monthly Pivot | 35,762.03 | 14.55 | Yes! The Monthly Pivot is close to the Daily S1. |
Weekly S1 | 35,802.71 | 40.68 | Yes! The Weekly S1 is close to the Monthly Pivot. |
61.8% Down from Intraday High | 35,844.43 | 41.71 | Yes! The 61.8% Down from Intraday High is close to the Weekly S1. |
50% Down from Intraday High | 35,907.59 | 63.16 | |
Daily Pivot | 35,961.35 | 53.76 | |
38.2% Down from Intraday High | 35,970.75 | 9.40 | Yes! The 38.2% Down from Intraday High is close to the Daily Pivot. |
Close | 36,068.87 | 98.13 | |
High | 36,175.21 | 106.34 | |
Open | 36,175.21 | 0.00 | Yes! The Open is close to the High. |
Daily R1 | 36,282.73 | 107.52 | |
Weekly Pivot | 36,377.68 | 94.95 | |
Daily R2 | 36,496.60 | 118.91 | |
Weekly R1 | 36,643.84 | 147.24 | |
Weekly R2 | 37,218.80 | 574.97 | |
Monthly R1 | 37,259.49 | 40.68 | Yes! The Monthly R1 is close to the Weekly R2. |
Monthly R2 | 38,450.11 | 1,190.62 |
Monday 1/10/22. Market Monday: The Week Ahead
My Prediction
Shown is the Dow transports index on the daily scale.
It appears that pattern AB is a double bottom but it isn’t. Rather, it’s just squiggles on the chart. Why?
Answer: Because it hasn’t confirmed as a valid chart pattern. Still confused? To confirm the pattern, the index has to close above the peak between the two bottoms. I show
that with line C. You can see on the chart that the index didn’t close above that line (at least so far).
Compare the potential double bottom at AB with the one at D. The move in the index (after double bottom D) is how the pattern is supposed to behave. It confirms and price rockets upward. Unfortunately,
that’s rare when you see such a strong push higher.
It looks at if the index is going lower but it could just be pausing before moving up.
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: Up 246.76 points.
Tuesday: Up 214.59 points.
Wednesday: Down 392.54 points.
Thursday: Down 170.64 points.
Friday: Down 4.81 points.
For the Week…
The Dow industrials were down 106.64 points or 0.3%.
The Nasdaq composite was down 709.07 points or 4.5%.
The S&P 500 index was down 89.15 points or 1.9%.
Year to Date…
Dow Industrials
2.0% down from the high of 36,952.65 on 01/05/2022.
0.3% up from the low of 36,111.53 on 01/07/2022.
Nasdaq
5.8% down from the high of 15,852.14 on 01/04/2022.
0.4% up from the low of 14,877.63 on 01/07/2022.
S&P 500
2.9% down from the high of 4,818.62 on 01/04/2022.
0.3% up from the low of 4,662.74 on 01/07/2022.
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.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 35,971 | 36,101 | 36,242 | 36,372 | 36,513 |
Weekly | 35,591 | 35,911 | 36,432 | 36,752 | 37,273 |
Monthly | 33,128 | 34,680 | 35,816 | 37,368 | 38,504 |
S&P500 (^GSPC): Daily | 4,637 | 4,657 | 4,683 | 4,702 | 4,728 |
Weekly | 4,564 | 4,620 | 4,719 | 4,776 | 4,875 |
Monthly | 4,340 | 4,509 | 4,664 | 4,832 | 4,987 |
Nasdaq (^IXIC): Daily | 14,701 | 14,819 | 14,995 | 15,112 | 15,288 |
Weekly | 14,247 | 14,592 | 15,222 | 15,566 | 16,196 |
Monthly | 14,191 | 14,563 | 15,232 | 15,605 | 16,274 |
- 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 will be starting in about 6 days.
Here’s a symbol list of 133 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, ACN, AMD, AKAM, AA, ADS, AEP, AMGN, APH, ANTM, AON, ARW, ATO, AVA, AZTA, BMI, BMRN, BBW, CBT, CRL, CAG, D, DUK, BOOM, EIX, EMR, WIRE, EOG, EPAM, FOE, FIS, IT, GE, HSC, HSII, DHI, IDXX, NSP, IPG, ISRG, IVC, JKHY, JBLU, JNJ, KBH, KFRC, LHX, LH, L, LXU, MHO, MTSI, MAN, MCHX, MTRN, MTRX, MGEE, MU, MCO, MYGN, NBR, ^IXIC, NFLX, NTAP, NI, NWPX, OMC, OTEX, PKE, PRFT, PICO, POR, PPG, PPL, PG, PEG, QCOM, DGX, RMBS, ROST, RES, ^GSPC, SLB, SCHW, SO, SCS, SUM, TPX, TEVA, TXN, TMO, TRV, TREX, SLCA, UGI, VRTX, VC, VMC, WRB, WMT, WU, WEX, ITB, FTEC, BOTZ, IYH, IHF, IGV, EWO, EWK, EWJ, EWT, TUR, QLD, PXJ, QQQ, PHO, ROBO, IXC, ILF, XLF, XHB, SPY, 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
Friday 1/7/22. Pattern Trading Setups for the Weekend.
$ $ $
Here’s a symbol list of 114 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, ACN, AES, ALK, AFG, ABC, AIZ, ATO, BSET, BZH, BBBY, BBY, CE, CENX, CRL, CHKP, CLNE, CSGS, DECK, XRAY, D, EXP, EBAY, EIX, EPAM, FIS, FMC, FCX, IT, GS, GGG, HE, HP, HSIC, HD, DHI, IEX, ILMN, NSP, IBP, IPAR, IVC, JKHY, K, KLAC, MTRX, MDC, MCO, NFG, CNR, NFLX, NTGR, NJR, NEE, NXGN, NKE, NI, NWPX, OLN, OTEX, PKG, PKE, PYPL, PRFT, PCG, PICO, PLXS, PPG, PPL, PG, PHM, KWR, RL, RGS, ROK, SO, SWN, SCS, TFX, TRV, TREX, UGI, VMI, V, VC, WRB, WERN, IYM, IYE, ITB, IYH, IHF, SLV, EWJ, EWM, EPP, EWY, TUR, EWU, DBA, PXJ, XHB, XLB, XLU, 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
Symbol | Chart Pattern | Bullish Bearish |
Start | End | Industry |
MMM | Double Bottom, Eve and Eve | 12/03/2021 | 12/20/2021 | Diversified Co. | |
AXDX | Pipe bottom | 12/06/2021 | 12/13/2021 | Medical Services | |
ALK | Pipe bottom | 11/22/2021 | 11/29/2021 | Air Transport | |
AA | Pipe bottom | 11/29/2021 | 12/06/2021 | Aerospace/Defense | |
AMED | Ugly double bottom | 12/06/2021 | 12/20/2021 | Medical Services | |
AEL | Pipe bottom | 11/22/2021 | 11/29/2021 | Insurance (Life) | |
AIG | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Insurance (Prop/Casualty) | |
APH | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Electronics | |
APA | Pipe bottom | 12/13/2021 | 12/20/2021 | Petroleum (Producing) | |
APOG | Double Bottom, Adam and Adam | 11/30/2021 | 12/20/2021 | Building Materials | |
ACGL | Scallop, ascending and inverted | 11/30/2021 | 12/20/2021 | Insurance (Prop/Casualty) | |
ARW | Three Rising Valleys | 09/20/2021 | 12/02/2021 | Electronics | |
AGO | Pipe bottom | 12/13/2021 | 12/20/2021 | Insurance (Life) | |
ADSK | Ugly double bottom | 11/24/2021 | 12/14/2021 | Computer Software and Svcs | |
ADP | Double Bottom, Adam and Adam | 12/01/2021 | 12/20/2021 | IT Services | |
AVNT | Pipe bottom | 12/13/2021 | 12/20/2021 | Chemical (Specialty) | |
AXS | Double Bottom, Eve and Adam | 11/30/2021 | 12/20/2021 | Insurance (Prop/Casualty) | |
BECN | Pipe bottom | 12/13/2021 | 12/20/2021 | Retail Building Supply | |
BIO | Pipe top | 10/25/2021 | 11/01/2021 | Medical Supplies | |
BA | Pipe bottom | 12/13/2021 | 12/20/2021 | Aerospace/Defense | |
BOOT | Pipe top | 11/15/2021 | 11/22/2021 | Shoe | |
BG | Triple bottom | 12/02/2021 | 12/20/2021 | Food Processing | |
CBT | Double Bottom, Adam and Adam | 12/01/2021 | 12/20/2021 | Chemical (Diversified) | |
CACI | Double Bottom, Adam and Adam | 12/01/2021 | 12/20/2021 | IT Services | |
CALM | Double Bottom, Adam and Adam | 12/17/2021 | 12/29/2021 | Food Processing | |
CLS | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Electronics | |
CLF | Pipe bottom | 12/13/2021 | 12/20/2021 | Metals and Mining (Div.) | |
CLR | Pipe bottom | 12/13/2021 | 12/20/2021 | Petroleum (Producing) | |
GLW | Head-and-shoulders bottom | 12/01/2021 | 01/03/2022 | Telecom. Equipment | |
COST | Rising wedge | 11/29/2021 | 01/04/2022 | Retail Store | |
COTY | Double Bottom, Eve and Eve | 12/02/2021 | 12/20/2021 | Toiletries/Cosmetics | |
CR | Pipe bottom | 12/20/2021 | 12/20/2021 | Diversified Co. | |
DHR | Double Top, Eve and Eve | 11/30/2021 | 12/31/2021 | Precision Instrument | |
DVN | Pipe bottom | 12/13/2021 | 12/20/2021 | Natural Gas (Diversified) | |
DFS | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Financial Services | |
EXP | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Cement and Aggregates | |
EIX | Triple top | 12/07/2021 | 12/29/2021 | Electric Utility (West) | |
EOG | Pipe bottom | 12/13/2021 | 12/20/2021 | Natural Gas (Distributor) | |
EQT | Pipe bottom | 11/29/2021 | 12/06/2021 | Natural Gas (Diversified) | |
RE | Head-and-shoulders bottom | 10/29/2021 | 12/20/2021 | Insurance (Prop/Casualty) | |
XOM | Double Bottom, Eve and Adam | 12/02/2021 | 12/20/2021 | Petroleum (Integrated) | |
FIS | Rounding bottom | 11/12/2021 | 01/06/2022 | Computer Software and Svcs | |
FLS | Pipe bottom | 12/13/2021 | 12/20/2021 | Machinery | |
FTNT | Pipe bottom | 11/29/2021 | 12/06/2021 | Computer Software and Svcs | |
FCX | Triple bottom | 11/26/2021 | 12/15/2021 | Metals and Mining (Div.) | |
FRD | Big W | 12/13/2021 | 12/31/2021 | Building Materials | |
GPS | Double Bottom, Eve and Eve | 12/02/2021 | 12/15/2021 | Apparel | |
GE | Pipe bottom | 12/13/2021 | 12/20/2021 | Diversified Co. | |
GNW | Double Bottom, Eve and Adam | 11/30/2021 | 12/20/2021 | Insurance (Life) | |
GL | Double Bottom, Adam and Adam | 12/01/2021 | 12/20/2021 | Insurance (Life) | |
GPRO | Triangle, symmetrical | 11/18/2021 | 01/06/2022 | Electronics | |
GFF | Double Bottom, Adam and Adam | 11/16/2021 | 12/20/2021 | Building Materials | |
THG | Pipe top | 12/06/2021 | 12/13/2021 | Insurance (Prop/Casualty) | |
HP | Pipe bottom | 11/29/2021 | 12/06/2021 | Petroleum (Producing) | |
IPG | Ugly double bottom | 11/30/2021 | 12/20/2021 | Advertising | |
ISRG | Pipe bottom | 11/29/2021 | 12/06/2021 | Medical Supplies | |
IVC | Double Bottom, Adam and Eve | 12/06/2021 | 12/20/2021 | Medical Supplies | |
JBLU | Triangle, ascending | 12/01/2021 | 01/06/2022 | Air Transport | |
KALU | Pipe bottom | 12/13/2021 | 12/20/2021 | Metals and Mining (Div.) | |
LZB | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Furn/Home Furnishings | |
LMT | Three Rising Valleys | 11/03/2021 | 12/20/2021 | Aerospace/Defense | |
MAN | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Human Resources | |
MRO | Pipe bottom | 12/13/2021 | 12/20/2021 | Petroleum (Integrated) | |
MCHX | Rectangle bottom | 11/30/2021 | 01/06/2022 | Advertising | |
MRTN | Pipe bottom | 12/13/2021 | 12/20/2021 | Trucking/Transp. Leasing | |
MRK | Ugly double bottom | 12/07/2021 | 01/03/2022 | Drug | |
MCO | Pipe top | 10/25/2021 | 11/01/2021 | Information Services | |
NBR | Pipe bottom | 11/29/2021 | 12/06/2021 | Oilfield Svcs/Equipment | |
NFG | Three Rising Valleys | 11/04/2021 | 12/20/2021 | Natural Gas (Diversified) | |
NOV | Ugly double bottom | 12/02/2021 | 12/20/2021 | Oilfield Svcs/Equipment | |
NTGR | Rising wedge | 11/15/2021 | 01/06/2022 | Telecom. Equipment | |
NWL | Double Bottom, Adam and Adam | 12/01/2021 | 12/20/2021 | Household Products | |
NWPX | Pipe bottom | 12/13/2021 | 12/20/2021 | Building Materials | |
OXY | Pipe bottom | 12/13/2021 | 12/20/2021 | Petroleum (Producing) | |
OMC | Ugly double bottom | 11/26/2021 | 12/20/2021 | Advertising | |
OUT | Pipe bottom | 12/13/2021 | 12/20/2021 | Advertising | |
OMI | Double Bottom, Eve and Eve | 12/02/2021 | 12/14/2021 | Medical Supplies | |
OXM | Pipe bottom | 12/13/2021 | 12/20/2021 | Apparel | |
PANW | Three Rising Valleys | 10/04/2021 | 12/06/2021 | Computer Software and Svcs | |
PATK | Double Bottom, Adam and Adam | 12/13/2021 | 12/20/2021 | Retail Building Supply | |
PTEN | Ugly double bottom | 12/02/2021 | 12/20/2021 | Oilfield Svcs/Equipment | |
PNW | Triangle, ascending | 10/20/2021 | 12/22/2021 | Electric Utility (West) | |
PPL | Rising wedge | 11/10/2021 | 01/06/2022 | Electric Utility (East) | |
PRU | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Insurance (Life) | |
DGX | Double Top, Eve and Eve | 12/17/2021 | 12/31/2021 | Medical Services | |
RGA | Pipe bottom | 11/22/2021 | 11/29/2021 | Insurance (Life) | |
RLI | Diamond top | 11/03/2021 | 01/03/2022 | Insurance (Prop/Casualty) | |
RCKY | Double Bottom, Eve and Adam | 12/02/2021 | 12/20/2021 | Shoe | |
ROST | Pipe bottom | 12/13/2021 | 12/20/2021 | Retail (Special Lines) | |
RES | Ugly double bottom | 12/02/2021 | 12/20/2021 | Oilfield Svcs/Equipment | |
SCCO | Double Bottom, Eve and Eve | 11/26/2021 | 12/20/2021 | Metals and Mining (Div.) | |
LUV | Pipe bottom | 12/13/2021 | 12/20/2021 | Air Transport | |
SXI | Pipe bottom | 12/13/2021 | 12/20/2021 | Diversified Co. | |
SUM | Double Bottom, Eve and Adam | 12/01/2021 | 12/20/2021 | Cement and Aggregates | |
SRDX | Big W | 12/02/2021 | 12/17/2021 | Medical Supplies | |
TDOC | Triangle, descending | 12/06/2021 | 01/04/2022 | Healthcare Information | |
TFX | Ugly double bottom | 12/01/2021 | 12/20/2021 | Diversified Co. | |
TPX | Head-and-shoulders complex bottom | 10/28/2021 | 12/20/2021 | Furn/Home Furnishings | |
TDC | Triangle, symmetrical | 11/29/2021 | 12/17/2021 | Computer Software and Svcs | |
TKR | Pipe bottom | 12/13/2021 | 12/20/2021 | Metal Fabricating | |
RIG | Triple bottom | 12/06/2021 | 12/31/2021 | Oilfield Svcs/Equipment | |
UGI | Ugly double bottom | 11/30/2021 | 12/20/2021 | Natural Gas (Distributor) | |
UNM | Big W | 12/01/2021 | 12/20/2021 | Insurance (Diversified) | |
VLO | Pipe bottom | 12/13/2021 | 12/20/2021 | Petroleum (Integrated) | |
VC | Pipe bottom | 12/13/2021 | 12/20/2021 | Electronics | |
WERN | Double Bottom, Adam and Adam | 12/02/2021 | 12/20/2021 | Trucking/Transp. Leasing | |
WLK | Double Bottom, Adam and Eve | 12/02/2021 | 12/20/2021 | Chemical (Basic) | |
WEX | Double Bottom, Eve and Eve | 12/01/2021 | 12/15/2021 | Information Services |
Thursday 1/6/22. Cryptocurrency Ethereum: Bearish
Average gain was 1.6% on 8 occasions.
Average loss was -1.4% on 9 occasions.
Expect the index to close lower 52.9% of the time.
Weekly, since inception on 6/14/2011:
The prediction of the index closing higher has been right 234/407 or 57.5% of the time.
The prediction of the index closing lower has been right 59/126 or 46.8% 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 Ethereum on the daily scale.
AB is a confirmed double bottom chart pattern. It confirms when the currency closes above the peak (C) between the two bottoms, which it does going up to D.
Confirmation means the currency is going higher.
Unfortunately, it was a fake bullish breakout and the currency tumbled. Combined with the peak(s) in early November, it made a double or even a triple top, suggesting a bearish move.
That move took the index lower to where it is now.
It still looks bearish to me, so I expect additional declines.
$ $ $
Here’s a symbol list of 184 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
DDD, ANF, ADBE, AES, APD, ATSG, ALK, ADS, AEL, AFG, AIG, APA, ACGL, ARW, AIZ, AVNT, BSET, BZH, BBBY, BBY, BMY, BLDR, CAL, CLS, CRL, CVX, CINF, CLNE, CLF, CNA, CGNX, CLR, XRAY, DDS, ^DJT, D, DOV, BOOM, EXP, EBAY, WIRE, EPAM, EFX, EQT, EVH, XOM, EZPW, FAST, FIS, FMC, FORM, FCX, FDP, GNW, GL, GS, GOOGL, GPRO, GGG, HBI, THG, HSC, HD, HUBG, IEX, NSP, IBP, IBKR, IPG, IVC, JKHY, JBLU, JNJ, KSS, LHX, LRCX, LAMR, LANC, L, LXU, M, MCHX, MRTN, MTRX, MDC, MSFT, MLKN, MCO, MLI, NBR, ^IXIC, NOV, CNR, NWL, NEU, NKE, JWN, ORI, OMCL, OMI, PATK, PTEN, PYPL, PRFT, PFE, PICO, PNW, KWR, RL, RGA, ROK, RES, CRM, SO, SWN, SXI, SSYS, SUM, TPR, TGT, TECH, TDOC, TFX, TPX, TXT, TJX, TSCO, RIG, TZOO, TG, SLCA, VMI, V, VMC, WRB, WERN, WLK, IAI, IYE, ITB, FTEC, IAT, SLV, EWO, EWK, EWC, EEM, EWH, EWJ, EWW, EWS, EWY, TUR, EWU, QLD, PXJ, QQQ, IXC, IXN, MXI, XLF, XHB, XRT, XAR, XLK, VIS, 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 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
© 2022 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 14,245.80 | ||
Monthly S1 | 14,672.98 | 427.19 | |
Daily S2 | 14,769.43 | 96.45 | |
Daily S1 | 14,934.80 | 165.37 | |
Low | 15,095.18 | 160.38 | |
Close | 15,100.17 | 4.99 | Yes! The Close is close to the Low. |
Weekly S1 | 15,195.58 | 95.41 | |
Daily Pivot | 15,260.55 | 64.97 | |
61.8% Down from Intraday High | 15,282.79 | 22.24 | Yes! The 61.8% Down from Intraday High is close to the Daily Pivot. |
Monthly Pivot | 15,287.23 | 4.44 | Yes! The Monthly Pivot is close to the 61.8% Down from Intraday High. |
Weekly S2 | 15,291.00 | 3.77 | Yes! The Weekly S2 is close to the Monthly Pivot. |
50% Down from Intraday High | 15,340.74 | 49.74 | |
38.2% Down from Intraday High | 15,398.69 | 57.95 | |
Daily R1 | 15,425.92 | 27.23 | Yes! The Daily R1 is close to the 38.2% Down from Intraday High. |
Weekly R1 | 15,453.11 | 27.19 | Yes! The Weekly R1 is close to the Daily R1. |
Open | 15,547.16 | 94.05 | |
Weekly Pivot | 15,548.53 | 1.37 | Yes! The Weekly Pivot is close to the Open. |
High | 15,586.30 | 37.77 | Yes! The High is close to the Weekly Pivot. |
Monthly R1 | 15,714.41 | 128.11 | |
Daily R2 | 15,751.67 | 37.26 | Yes! The Daily R2 is close to the Monthly R1. |
Weekly R2 | 15,806.06 | 54.39 | |
Monthly R2 | 16,328.66 | 522.60 |
Wednesday 1/5/22. 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 CPI shows a green bar on the far right of the chart. It looks like the index is taking a pause here in preparation for another upsurge. It’s a flag pattern
where we see a pause near the middle of a strong run higher.
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, 24% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 28%.
The fewest was 8% on 03/15/2021.
And the most was 39% on 12/01/2021.
The 459 stocks in my database are down an average of 14% from their yearly high.
A week ago, the average was 14%.
The peak was 8% on 03/15/2021.
And the bottom was 19% on 12/01/2021.
In this chart, the red line has confirmed a double bottom pattern. That’s bullish, but the indicator has already climbed a good amount. The blue line looks like it’s
about to peak, too, joining the horizontal move that started back in July.
The prior chart is bullish and this one shows caution, but it’s bullish, too. Together I believe the index will continue to rise.
$ $ $
Here’s a symbol list of 184 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
DDD, ABT, ACN, ADTN, AMD, ATSG, ALK, AA, AMZN, AMED, AEE, AEP, AXP, ABC, AMN, ANTM, APA, ADM, AWI, AVA, BSET, BECN, BIO, BAH, EPAY, CACI, CALM, CLS, CNP, CRL, CHKP, CINF, CNA, COP, CRH, XRAY, DVN, DFS, D, DTE, DUK, EBAY, EMR, EOG, EPAM, EXPD, XOM, FOE, FE, FLEX, FMC, FORM, FWRD, GE, GNW, GILD, GL, GS, GPRO, HBI, HSC, HIG, HAYN, HQY, HSII, HNI, HON, IDXX, ISRG, NVTA, JBLU, KFRC, LRCX, LAMR, LAWS, LLY, L, LXU, MAN, MRO, MRTN, MTRX, FB, MLKN, MS, NBR, NJR, NWL, NEE, NVDA, OGE, OMCL, OMC, ASGN, OMI, PYPL, PRFT, PCG, PINC, PRU, PEG, KWR, RJF, RGS, RNG, RLI, CRM, SLB, SIGI, SKX, SO, LUV, SSYS, TDOC, TRV, SLCA, UNM, VFC, WERN, WU, WLK, WEX, WDAY, ITA, IAI, IEZ, IHE, DDM, FTEC, ICF, IYH, IAT, IGE, IYF, EWO, EWK, EWC, EEM, EWQ, EWG, EWH, EWI, EWD, EWT, THD, TUR, EWU, QLD, PPA, PXJ, QQQ, PHO, IXC, IXN, MXI, XLE, XLF, XLV, XRT, XLK, SMH, VHT, 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.
— Thomas Bulkowski
Tuesday 1/4/22. Slider Trading Quiz! Frontier Airlines (2)
Average gain was 0.6% on 383 occasions.
Average loss was -0.6% on 314 occasions.
Expect the index to close higher 54.9% of the time.
Weekly, since inception on 6/14/2011:
The prediction of the index closing higher has been right 235/420 or 56.0% of the time.
The prediction of the index closing lower has been right 44/93 or 47.3% of the time.
$ $ $
I show another slider trading quiz featuring Frontier Airlines: FRNT 2
$ $ $
Here’s a symbol list of 209 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, ACN, APD, ALRM, ALK, AA, ALKS, AYX, DOX, AMED, AEE, AFG, AMWD, AMGN, AMN, APH, APA, ARCB, ASH, AGO, ADSK, AVY, AVNT, AVA, AXS, AZTA, BSET, BAX, BECN, BIG, BMRN, BKH, BA, BMY, BBW, BLDR, CBT, CNP, CVX, CHS, CIEN, CINF, CLF, CGNX, CLR, CR, DVN, DDS, DFS, ^DJT, ^DJI, D, DOV, DRQ, DTE, DUK, EXP, EBAY, EIX, EMR, WIRE, EOG, EFX, EL, RE, EXPD, FOE, FE, FLS, IT, GE, GPN, GS, GPRO, GGG, GFF, GES, HNI, HOLX, HD, HUBG, JBHT, IDA, IEX, ITW, IBP, IVC, JBLU, KALU, KBH, KELYA, KSS, LHX, LEN, L, LOW, MHO, M, MRO, MCHX, MRTN, MDC, MDT, MLKN, MS, MLI, NBR, NTGR, NJR, NWL, NEE, NXGN, NKE, JWN, NWPX, NUS, OXY, OGE, ORI, OLN, ASGN, OTEX, OUT, OMI, OXM, PTEN, PYPL, PRFT, PLXS, POR, PEG, PHM, KWR, RL, RLI, RHI, ROK, ROG, ROST, RES, SAIA, SIGI, SLGN, SO, LUV, SWX, SXI, SCS, TXT, TKR, TOL, RIG, TG, TREX, UGI, VLO, VC, WRB, WSO, WERN, WU, WLK, WEX, WOLF, XLNX, IYM, IYC, IYE, ITB, IEO, ICF, IAT, IYZ, IYF, EWK, EWG, EIS, EWI, EZA, EWT, TUR, PXJ, PHO, MXI, XLY, XLF, XLI, XLB, VHT, VIS, 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.
$ $ $
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
© 2022 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 33,084.48 | ||
Monthly S1 | 34,834.77 | 1,750.29 | |
Weekly S2 | 35,681.15 | 846.38 | |
Monthly Pivot | 35,757.27 | 76.12 | |
Daily S2 | 36,126.41 | 369.14 | |
Weekly S1 | 36,133.10 | 6.70 | Yes! The Weekly S1 is close to the Daily S2. |
Low | 36,246.45 | 113.35 | |
Open | 36,321.59 | 75.14 | |
Daily S1 | 36,355.73 | 34.14 | Yes! The Daily S1 is close to the Open. |
61.8% Down from Intraday High | 36,379.91 | 24.18 | Yes! The 61.8% Down from Intraday High is close to the Daily S1. |
Weekly Pivot | 36,406.44 | 26.53 | Yes! The Weekly Pivot is close to the 61.8% Down from Intraday High. |
50% Down from Intraday High | 36,421.14 | 14.70 | Yes! The 50% Down from Intraday High is close to the Weekly Pivot. |
38.2% Down from Intraday High | 36,462.36 | 41.22 | |
Daily Pivot | 36,475.78 | 13.42 | Yes! The Daily Pivot is close to the 38.2% Down from Intraday High. |
Close | 36,585.06 | 109.28 | |
High | 36,595.82 | 10.76 | Yes! The High is close to the Close. |
Daily R1 | 36,705.10 | 109.28 | |
Daily R2 | 36,825.15 | 120.05 | |
Weekly R1 | 36,858.39 | 33.25 | Yes! The Weekly R1 is close to the Daily R2. |
Weekly R2 | 37,131.73 | 273.33 | |
Monthly R1 | 37,507.56 | 375.83 | |
Monthly R2 | 38,430.06 | 922.50 |
Monday 1/3/22. 2022 Forecast
Here’s how the indices finished this year, dividends not included.
Indices Growth in 2021 | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Dow utilities | 13.4% | |||||||||||
Dow industrials | 18.7% | |||||||||||
Nasdaq composite | 21.4% | |||||||||||
S&P 500 index | 26.9% | |||||||||||
Dow transports | 31.8% |
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 30 December 2021 were…
(The numbering is how they ranked a month ago.)
1. Energy (+47%)
4. Real estate (+42%)
2. Information technology (+34%)
3. Financials (+33%)
8. Health care (+25%)
7. Materials (+24%)
5. Consumer discretionary (+24%)
6. Communication services (+22%)
9. Industrials (+19%)
10. Consumer staples (+15%)
11. Utilities (+14%)
The folks at two firms polled by Fidelity weigh the sectors in this order, as of 12/23.
1. Information technology (IT)
3. Health care
2. Consumer discretionary
4. Financials
5. Communication services
6. Industrials
7. Consumer staples
9. Real estate
8. Energy
10. Materials
11. Utilities
Here’s how they rank the industries, but only the top 10 appear. One-year change, as of 12/30. The numbering is how they ranked a month ago.
3. Real estate management and development (75%)
4. Automobiles (+63%)
5. Distributors (+53%)
8. Construction materials (+52%)
2. Semiconductors & Semi equipment (+52%)
1. Construction and engineering (+51%)
7. Oil, gas and consumable fuels (+51%)
New. Communications equipment (+49%)
9. Interactive media & Services (+48%)
New. Building products (+46%)
The Indices…
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: Up 351.82 points.
Tuesday: Up 95.83 points.
Wednesday: Up 90.42 points.
Thursday: Down 90.55 points.
Friday: Down 59.78 points.
For the Week…
The Dow industrials were up 387.74 points or 1.1%.
The Nasdaq composite was down 8.4 points or 0.1%.
The S&P 500 index was up 40.39 points or 0.9%.
For the Year…
Dow Industrials
Closed at 36,338, up 18.7%.
0.9% down from the high of 36,679.77 on 12/30/2021.
21.7% up from the low of 29,856.30 on 01/29/2021.
Nasdaq
Closed at 15,645, up 21.4%.
3.5% down from the high of 16,212.23 on 11/22/2021.
26.2% up from the low of 12,397.05 on 03/05/2021.
S&P 500
Closed at 4,766, up 26.9%.
0.9% down from the high of 4,808.93 on 12/30/2021.
30.1% up from the low of 3,662.71 on 01/04/2021.
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Here’s a symbol list of 158 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ANF, AEIS, AFL, APA, AAPL, ADM, ARW, AIZ, AGO, AVNT, AVA, AZTA, BLL, BAX, BECN, BIG, BA, BAH, BRC, BMY, BG, CBT, CE, CENX, CHS, CSCO, CLF, CLX, CNO, CGNX, CL, ED, CAG, CLR, CR, CCK, DVN, DDS, ^DJT, ^DJI, DUK, EMN, EBAY, EOG, RE, EZPW, FFIV, FLS, FTNT, GD, GE, GIS, GNW, GL, GES, THG, HLIT, HAYN, HQY, HSY, HON, DHI, INTC, JAZZ, JNJ, K, KELYA, KMT, KSS, LEG, LEN, LNC, LMT, LOW, MHO, M, MANH, MAN, MRO, MCHX, MRTN, MDC, MDT, MRK, MGEE, NXGN, NKE, JWN, NOC, NWPX, OXY, OMCL, ASGN, OTEX, OUT, OXM, PKG, PRFT, PCG, PPG, PFG, PGR, PEG, KWR, ROG, ROST, ^GSPC, SAIA, SHW, SO, SCCO, LUV, SXI, SNPS, TER, TKR, TREX, UNM, VLO, VC, WSO, WERN, WU, WLK, WEX, WOLF, XLNX, IYK, IEO, IEZ, IHE, DDM, EWA, EWM, EWS, EWY, EWT, TUR, IXN, SSO, XLP, GLD, XHB, XLB, SPY, XLK, UNG, VHT, 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.
The below industries were the best (rank 1) or worst performing of those I follow.
This Week | Last Week |
1. Trucking/Transp. Leasing | 1. Trucking/Transp. Leasing |
2. Retail Building Supply | 2. Semiconductor Cap Equip. |
3. Semiconductor Cap Equip. | 3. Retail Building Supply |
4. Cement and Aggregates | 4. Semiconductor |
5. Semiconductor | 5. Cement and Aggregates |
6. Precision Instrument | 6. Precision Instrument |
7. Natural Gas (Diversified) | 7. Retail Store |
8. Retail Store | 8. IT Services |
9. Homebuilding | 9. Natural Gas (Diversified) |
10. Human Resources | 10. Human Resources |
Best Performing Above | Worst Performing Below |
50. Natural Gas (Distributor) | 50. Natural Gas (Distributor) |
51. Aerospace/Defense | 51. Aerospace/Defense |
52. Investment Co. (Foreign) | 52. Investment Co. (Foreign) |
53. Air Transport | 53. Air Transport |
54. Biotechnology | 54. Biotechnology |
55. Financial Services | 55. Healthcare Information |
56. Healthcare Information | 56. Financial Services |
57. Apparel | 57. Apparel |
58. Retail (Special Lines) | 58. Retail (Special Lines) |
59. Short ETFs | 59. Short ETFs |
60. Oilfield Svcs/Equipment | 60. Oilfield Svcs/Equipment |
— Thomas Bulkowski
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