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Chart Pattern Indicator: What's It Say?…

Blog: November 2022

Bulkowski's Blog: ThePatternSite.com

As of 11/04/2022

  Indus: 32,403 +401.97 +1.3%  

  Trans: 13,474 +273.37 +2.1%  

  Utils: 913 +6.15 +0.7%  

  Nasdaq: 10,475 +132.31 +1.3%  

  S&P 500: 3,771 +50.66 +1.4%  

YTD

-10.8%  

-18.2%  

-6.9%  

-33.0%  

-20.9%  

  Up arrow33,300 or 30,500 by 11/15/2022
  Up arrow14,300 or 12,750 by 11/15/2022
  Up arrow940 or 850 by 11/15/2022
  Up arrow11,600 or 10,300 by 11/15/2022
  Up arrow3,950 or 3,600 by 11/15/2022

As of 11/04/2022

  Indus: 32,403 +401.97 +1.3%  

  Trans: 13,474 +273.37 +2.1%  

  Utils: 913 +6.15 +0.7%  

  Nasdaq: 10,475 +132.31 +1.3%  

  S&P 500: 3,771 +50.66 +1.4%  

YTD

-10.8%  

-18.2%  

-6.9%  

-33.0%  

-20.9%  

  Up arrow33,300 or 30,500 by 11/15/2022
  Up arrow14,300 or 12,750 by 11/15/2022
  Up arrow940 or 850 by 11/15/2022
  Up arrow11,600 or 10,300 by 11/15/2022
  Up arrow3,950 or 3,600 by 11/15/2022

 


Monday 11/7/22. Market Monday: The Week Ahead

My Prediction

Picture of the Dow transports on the daily scale.

I show the Dow transports on the daily scale.

At AB is an Eve & Adam double bottom. It confirms as a valid chart pattern when the index closes above red line C. The index makes a nice climb after.

More recently, we see the index climbing higher in a channel formed with two parallel lines. The transports broke out upward from the channel and then returned to it, as if
the upward momentum had disappeared.

The index has lifted back out of the channel now, so it looks set to move higher, but it’ll have to push through the knot of resistance immediately to the left of where it’s at now.

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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 128.85 points.

Tuesday: Down 79.75 points.

Wednesday: Down 505.44 points.

Thursday: Down 146.51 points.

Friday: Up 401.97 points.

For the Week…

The Dow industrials were down 458.58 points or 1.4%.

The Nasdaq composite was down 627.2 points or 5.6%.

The S&P 500 index was down 130.51 points or 3.3%.

Year to Date…

Dow Industrials

     12.3% down from the high of 36,952.65 on 01/05/2022.

     13.1% up from the low of 28,660.94 on 10/13/2022.

Nasdaq

     33.9% down from the high of 15,852.14 on 01/04/2022.

     3.8% up from the low of 10,088.83 on 10/13/2022.

S&P 500

     21.8% down from the high of 4,818.62 on 01/04/2022.

     8.0% up from the low of 3,491.58 on 10/13/2022.

Options Expiration

No options expire this week.

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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   31,645   32,024   32,318   32,697   32,990 
Weekly   31,056   31,730   32,401   33,074   33,746 
Monthly   26,968   29,685   31,379   34,096   35,790 
S&P500 (^GSPC): Daily   3,671   3,721   3,759   3,808   3,846 
Weekly   3,580   3,675   3,793   3,889   4,007 
Monthly   3,304   3,537   3,725   3,958   4,145 
Nasdaq (^IXIC): Daily   10,140   10,308   10,431   10,598   10,721 
Weekly   9,738   10,107   10,632   11,000   11,525 
Monthly   9,457   9,966   10,598   11,108   11,740 
  • 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

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

Here’s a symbol list of 109 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
DDD, ADBE, ADTN, APD, AA, AMED, AFG, AMN, AAPL, AMAT, ADM, AWI, AIZ, AZTA, BAX, BIG, BKH, BAH, CNC, CENX, CHD, CMTL, GLW, CR, CROX, CCRN, BOOM, EMN, WIRE, EOG, EQT, EL, EZPW, FDS, FISV, FLS, FCX, GE, GS, GPRO, HTLD, HL, HOV, ITW, INFN, IPAR, TILE, INTU, NVTA, JKHY, K, KLIC, LHX, LRCX, LAMR, LNC, RAMP, MTSI, M, MA, MU, MSFT, NFG, NOV, OLN, PANW, PGR, PRU, DGX, RGS, RGA, ROK, ROG, SKX, SCCO, LUV, SWN, SXI, SNPS, TFX, TDC, TER, TSCO, VRSN, V, VC, WERN, WEX, IHF, IGV, SOXX, SLV, EWZ, ECH, EEM, EWH, EWJ, EWW, EZA, EWY, EWT, THD, TUR, ILF, 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.

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

This Week Last Week
1. Petroleum (Integrated) 1. Petroleum (Integrated)
2. Securities Brokerage 2. Metal Fabricating
3. Metal Fabricating 3. Petroleum (Producing)
4. Machinery 4. Securities Brokerage
5. Petroleum (Producing) 5. Machinery
6. Oilfield Svcs/Equipment 6. Insurance (Life)
7. Food Processing 7. Aerospace/Defense
8. Insurance (Life) 8. Oilfield Svcs/Equipment
9. Shoe 9. Food Processing
10. Aerospace/Defense 10. Short ETFs
Best Performing Above Worst Performing Below
50. Medical Supplies 50. Computers and Peripherals
51. Air Transport 51. Air Transport
52. Retail (Special Lines) 52. Semiconductor Cap Equip.
53. Semiconductor 53. Apparel
54. Packaging and Container 54. Retail (Special Lines)
55. Electronics 55. Medical Supplies
56. Computers and Peripherals 56. Chemical (Basic)
57. Computer Software and Svcs 57. Semiconductor
58. Chemical (Basic) 58. Packaging and Container
59. Toiletries/Cosmetics 59. E-Commerce
60. E-Commerce 60. Toiletries/Cosmetics

— Thomas Bulkowski

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Friday 11/4/22. Pattern Trading Setups for the Weekend.

$ $ $

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:
ADBE, ADTN, AJRD, DOX, AEO, AEP, ABC, ANIK, APA, ADM, AWI, AIZ, ADP, AZTA, BALL, BAX, BIG, BIO, BIIB, BKNG, BMY, CDNS, CX, CVX, CMTL, CRH, CROX, CCK, CW, DSGR, EMR, WIRE, EQT, EVRG, EZPW, FFIV, FIS, FMC, FORM, FTNT, GE, GNW, GILD, GPN, GOOGL, HSII, HELE, HP, HON, HOV, ITW, INFN, IPI, IVC, NVTA, JKHY, KLIC, LHX, LANC, LNC, LMT, LXU, MTSI, M, MRO, MAS, META, MOS, NOV, NTGR, NJR, NWL, NEU, NEE, NUS, OLN, OTEX, OUT, PKG, PYPL, PPL, PRU, DGX, RJF, RGS, RCKY, ROG, SLB, SMG, SEE, SRE, LUV, SWN, SXI, TPR, TXN, RIG, VLO, VEEV, VRSN, VMC, WSM, IEZ, FTEC, FDN, FXI, IEO, EWO, EWG, EWM, EZA, PBE, PEJ, PXJ, PJP, GLD, XLK. 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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AEIS Pipe bottom        10/10/2022 10/17/2022 Semiconductor
ALKS Triple bottom        09/27/2022 10/21/2022 Drug
AYX Triangle, symmetrical        10/13/2022 11/02/2022 Computer Software and Svcs
AXP Double Bottom, Adam and Adam        10/13/2022 10/21/2022 Financial Services
AMN Three Rising Valleys        09/06/2022 10/21/2022 Human Resources
ANIK Rounding bottom        03/18/2022 11/02/2022 Biotechnology
ARCB Broadening top        10/04/2022 11/03/2022 Trucking/Transp. Leasing
AVNT Broadening bottom        09/29/2022 11/02/2022 Chemical (Specialty)
BAX Double Top, Adam and Adam        10/05/2022 10/26/2022 Medical Supplies
BBY Head-and-shoulders bottom        09/30/2022 10/21/2022 Retail (Special Lines)
BIG Double Bottom, Adam and Eve        10/03/2022 10/24/2022 Retail Store
BMY Head-and-shoulders bottom        10/03/2022 10/21/2022 Drug
CAL Head-and-shoulders complex bottom        09/14/2022 10/13/2022 Shoe
CE Double Bottom, Eve and Adam        09/26/2022 10/13/2022 Chemical (Basic)
CX Double Bottom, Eve and Adam        09/27/2022 10/14/2022 Cement and Aggregates
CF Rising wedge        09/21/2022 10/27/2022 Chemical (Basic)
CTSH Ugly double bottom        10/13/2022 10/21/2022 IT Services
COTY Rectangle bottom        09/29/2022 11/03/2022 Toiletries/Cosmetics
CTS Double Top, Adam and Adam        10/06/2022 10/24/2022 Electronics
EMN Double Bottom, Eve and Eve        09/29/2022 10/13/2022 Chemical (Diversified)
EXC Pipe bottom        10/10/2022 10/17/2022 Electric Utility (East)
EZPW Rounding bottom        08/16/2022 11/01/2022 Financial Services
FIS Dead-cat bounce        11/03/2022 11/03/2022 Computer Software and Svcs
FE Head-and-shoulders bottom        10/07/2022 10/21/2022 Electric Utility (East)
GOOGL Broadening top        09/23/2022 10/25/2022 Internet
HTLD Rectangle bottom        09/01/2022 11/02/2022 Trucking/Transp. Leasing
HOLX Pipe bottom        10/10/2022 10/17/2022 Medical Supplies
HUBG Big W        09/26/2022 10/20/2022 Trucking/Transp. Leasing
JBHT Head-and-shoulders bottom        09/23/2022 10/13/2022 Trucking/Transp. Leasing
IPI Dead-cat bounce        11/03/2022 11/03/2022 Chemical (Diversified)
JAZZ Double Bottom, Adam and Adam        10/13/2022 10/20/2022 Biotechnology
KFRC Double Top, Adam and Adam        10/18/2022 10/28/2022 Human Resources
LEG Double Bottom, Adam and Eve        10/11/2022 10/21/2022 Furn/Home Furnishings
LXU Broadening wedge, ascending        10/05/2022 11/03/2022 Building Materials
MTRN Dead-cat bounce        11/02/2022 11/02/2022 Metals and Mining (Div.)
MDT Head-and-shoulders bottom        09/27/2022 10/21/2022 Medical Supplies
MLKN Pipe bottom        09/26/2022 10/03/2022 Furn/Home Furnishings
MYGN Dead-cat bounce        11/01/2022 11/01/2022 Biotechnology
NBR Flag, high and tight        09/23/2022 11/03/2022 Oilfield Svcs/Equipment
NFG Horn bottom        09/26/2022 10/10/2022 Natural Gas (Diversified)
NEU Double Top, Adam and Eve        10/04/2022 10/25/2022 Chemical (Specialty)
NEE Double Bottom, Adam and Adam        10/13/2022 10/20/2022 Electric Utility (East)
NI Double Bottom, Adam and Adam        10/13/2022 10/20/2022 Electric Utility (Central)
JWN Pipe bottom        09/26/2022 10/03/2022 Retail Store
NUS Pipe bottom        09/26/2022 10/03/2022 Toiletries/Cosmetics
OMCL Dead-cat bounce        11/02/2022 11/02/2022 Healthcare Information
PKG Double Bottom, Adam and Adam        09/26/2022 10/13/2022 Packaging and Container
DGX Cup with handle        08/11/2022 10/31/2022 Medical Services
RL Triangle, symmetrical        10/10/2022 11/01/2022 Apparel
ROG Dead-cat bounce        11/02/2022 11/02/2022 Electronics
SMG Pipe bottom        10/03/2022 10/10/2022 Chemical (Basic)
SEIC Pipe bottom        10/10/2022 10/17/2022 IT Services
SCCO Broadening top        10/04/2022 11/01/2022 Metals and Mining (Div.)
VMC Double Bottom, Adam and Adam        10/13/2022 10/21/2022 Cement and Aggregates
WSO Pipe bottom        10/10/2022 10/17/2022 Retail Building Supply
WU Double Top, Adam and Adam        10/04/2022 10/18/2022 Financial Services
IHI Double Bottom, Adam and Adam        10/13/2022 10/21/2022 Medical Supplies

 

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Thursday 11/3/22. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -3.4% or -366.05 points. Since 02/05/1971 the Nasdaq made 10 similar moves on a percentage basis. After those moves, the next day’s…

     Average gain was 1.6% on 5 occasions.

     Average loss was -3.3% on 5 occasions.

Expect the Nasdaq to close higher 50.0% of the time.

Weekly, since inception on 6/14/2011:

     The prediction of the Nasdaq closing higher has been right 246/435 or 56.6% of the time.

     The prediction of the Nasdaq closing lower has been right 68/140 or 48.6% 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.

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

There’s not a lot to say about this chart. On the far left is a small head-and-shoulders bottom chart pattern (SHS).

In the middle of the chart is a pair of double tops, BC and DE. They confirm as valid chart patterns when the index closed below the horizontal red line. The BC top didn’t see price fall
far enough to be a valuable trade. DE did better.

Point A shows a pullback to just above the DE neckline (the red line) before the FED announcement of an interest rate cut pulled the floor out from under the index. Down it went.

What happens next? I don’t have an idea, based on this chart (it doesn’t show enough history). I expect a bounce. The index is resting on support so I expect a recovery. For all I know, the index could continue
lower, though.

$ $ $

Here’s a symbol list of 119 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ACN, ADTN, ALKS, AMED, AEL, AAPL, ADSK, ADP, AVA, AZTA, BCPC, BALL, BIG, BIIB, BA, BBW, CENX, CINF, CLX, CGNX, CMTL, CR, CSGS, XRAY, WIRE, EPAM, EFX, EQT, EL, EZPW, FFIV, FAST, FDX, GNW, GPRO, THG, HE, HAYN, HTLD, HELE, HOV, ITW, INFN, IBP, IIIN, ITGR, IVC, NVTA, JAZZ, KMT, KFRC, KBAL, KLIC, LHX, LH, LAMR, RAMP, LXU, MTSI, M, MTRN, MYGN, NJR, NEU, NOC, NWPX, OMCL, PANW, PPG, PINC, PRU, PEG, PHM, DGX, RGA, RLI, RCKY, ROG, ROST, SAIA, CRM, SEE, SIGI, NOW, SWN, SXI, SRDX, TDOC, TXN, TMO, UNM, VRTX, WMB, WSM, WDAY, ZBRA, IYC, DDM, FDN, IGV, EWH, EIS, EWM, EWW, EZA, PBE, PJP, PHO, XLV, USO, 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 Nasdaq composite, sorted by value. When several are near each other (small differences),
the area might act as support or resistance.

— Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric   Value   Diff   Close (within 10% of the high-low range for the day)? 
 Monthly S2   9,473.08      
 Monthly S1   9,998.94   525.86   
 Daily S2   10,209.97   211.03   
 Weekly S2   10,319.12   109.15   
 Daily S1   10,367.39   48.27   
 Weekly S1   10,421.96   54.57   
 Low   10,522.90   100.94   
 Close   10,524.80   1.90   Yes! The Close is close to the Low.
 Monthly Pivot   10,614.69   89.89   
 Daily Pivot   10,680.31   65.62   
 61.8% Down from Intraday High   10,702.57   22.26   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High   10,758.07   55.50   
 38.2% Down from Intraday High   10,813.57   55.50   
 Weekly Pivot   10,816.17   2.60   Yes! The Weekly Pivot is close to the 38.2% Down from Intraday High.
 Daily R1   10,837.73   21.56   Yes! The Daily R1 is close to the Weekly Pivot.
 Open   10,885.01   47.28   
 Weekly R1   10,919.01   34.00   Yes! The Weekly R1 is close to the Open.
 High   10,993.24   74.23   
 Monthly R1   11,140.55   147.31   
 Daily R2   11,150.65   10.10   Yes! The Daily R2 is close to the Monthly R1.
 Weekly R2   11,313.22   162.57   
 Monthly R2   11,756.30   443.08   


Wednesday 11/2/22. A Look At Indicators

Picture of the chart pattern indicator

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.

Yesterday, I covered the CPI in the 2022 forecast update. In this chart, we see the CPI line continuing to drop. The indicator is still bullish, but I expect it to turn neutral before going bearish.

However, tomorrow the FED meets and we’ve seen the markets rises after the meeting as if they markets are saying “Whew! It’s over.”

One can argue that once a pattern is established it’ll cease to work. That could mean the markets will drop tomorrow.

In other words, the markets can go either way.

Picture of the percent down indicators

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).

Shown as a red line on the above chart…

On Tuesday, 57% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).

A week ago, it was 63%.

The fewest was 21% on 11/12/2021.

And the most was 79% on 06/17/2022.

Shown as a blue line on the above chart…

The 451 stocks in my database are down an average of 27% from their yearly high.

A week ago, the average was 29%.

The peak was 12% on 11/08/2021.

And the bottom was 34% on 09/30/2022.

Both lines are more bullish this week compared to a week ago. My feeling is that the uptrend will continue but evidence for that is thin.

The two charts shows diverging trends. The CPI chart shows growing weakness. This chart is bullish, however, one could argue that a retrace is overdue.

Let’s wait for tomorrow’s (Wednesday’s) close to see what the indices do. If we see a big spike upward, I would expect a retrace of that move. A down move might be lasting, so that the markets will move sideways.

$ $ $

Here’s a symbol list of 111 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ACN, AYI, AJRD, AMED, AEL, AAPL, ACGL, BCPC, BALL, BIG, BIIB, BKNG, BOOT, CX, CRL, CINF, CLF, CMTL, CCK, CSGS, DDS, DRQ, WIRE, EPAM, EFX, EQT, RE, EZPW, FFIV, FDX, FRD, IT, THG, HSC, HE, HELE, HOLX, DHI, HOV, IDA, IDXX, ITW, INCY, INFN, IBP, IIIN, NVTA, KALU, LHX, LDOS, M, MANH, MAS, MUR, MYGN, NWL, NEU, NOC, OMCL, PATK, PFE, PGR, PHM, KWR, DGX, RMBS, RGS, RGA, ROST, CRM, SEE, SIGI, SWN, SXI, SCS, SSYS, TECH, TDOC, TFX, SLCA, UNM, WSM, IEZ, DDM, BOTZ, IGV, IGE, EWJ, EWW, EPP, EWS, EZA, EWY, EWL, EWU, PPA, PBE, PHO, XLV, 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.

— Thomas Bulkowski

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Tuesday 11/1/22. 2022 Forecast Update

The Dow dropped by -0.4% or -128.85 points. Since 10/01/1928 the Dow made 939 similar moves on a percentage basis. After those moves, the next day’s…

     Average gain was 0.6% on 477 occasions.

     Average loss was -0.7% on 462 occasions.

Expect the Dow to close higher 50.8% of the time.

Weekly, since inception on 6/14/2011:

     The prediction of the Dow closing higher has been right 251/452 or 55.5% of the time.

     The prediction of the Dow closing lower has been right 49/103 or 47.6% of the time.

$ $ $

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 28 October 2022 were…
(The numbering is how they ranked a month ago.)

1. Energy (+62%)

3. Consumer staples (-5%)

4. Health care (-6%)

2. Utilities (-6%)

6. Industrials (-11%)

8. Financials (-13%)

5. Materials (-17%)

9. Information technology (-26%)

7. Real estate (-29%)

10. Consumer discretionary (-30%)

11. Communication services (-38%)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 10/28/22.

1. Information technology (IT)

2. Health care

4. Financials

3. Consumer discretionary

6. Industrials

5. Communication services

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 10/28/22. The numbering is how they ranked a month ago.

1. Oil, gas and consumable fuels (+59%)

3. Energy equipment and services (+40%)

3. Construction and engineering (+21%)

2. Health care providers and services (+21%)

5. Food products (17%)

10. Biotechnology (+17%)

8. Pharmaceuticals (+14%)

6. Beverages (+12%)

New. Aerospace & Defense (+10%)

New. Insurance (+6%)

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Here’s a symbol list of 72 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AEIS, ALB, ALKS, AMAT, AZTA, BALL, CAL, CLF, CAG, CSGS, WIRE, EOG, EXC, EZPW, FISV, FMC, FRD, GGG, HBI, HSC, HOLX, HD, ITW, ILMN, INFN, NSP, IVC, K, LRCX, LDOS, LLY, LXU, M, MLM, MTRN, MUR, NBR, NUS, OXY, PLXS, PPG, DGX, RGS, RES, SEIC, SKX, SXI, TER, RIG, SLCA, VMC, WSO, WOLF, IYE, IEZ, FXI, SOXX, SLV, IGE, EWZ, EWH, EZA, PXJ, IXC, ILF, XLE, XLV, SMH, 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.

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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

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© 2022 ThePatternSite.com    Metric   Value   Diff   Close (within 10% of the high-low range for the day)? 
 Monthly S2   27,199.03      
 Monthly S1   29,965.99   2,766.96   
 Weekly S2   30,532.99   567.00   
 Monthly Pivot   31,427.90   894.91   
 Weekly S1   31,632.97   205.07   
 Weekly Pivot   32,261.39   628.42   
 Daily S2   32,437.65   176.26   
 Daily S1   32,585.30   147.65   
 Low   32,586.93   1.63   Yes! The Low is close to the Daily S1.
 61.8% Down from Intraday High   32,700.36   113.43   
 Close   32,732.95   32.59   
 Daily Pivot   32,734.58   1.63   Yes! The Daily Pivot is close to the Close.
 50% Down from Intraday High   32,735.39   0.81   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 Open   32,754.27   18.88   Yes! The Open is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High   32,770.43   16.16   Yes! The 38.2% Down from Intraday High is close to the Open.
 Daily R1   32,882.23   111.80   
 High   32,883.86   1.63   Yes! The High is close to the Daily R1.
 Daily R2   33,031.51   147.65   
 Weekly R1   33,361.37   329.86   
 Weekly R2   33,989.79   628.42   
 Monthly R1   34,194.86   205.07   
 Monthly R2   35,656.77   1,461.91   

 

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Blog: September 2022 As of 09/07/2022   Indus: 31,581 +435.98 +1.4%     Trans: 13,738 +73.42 +0.5%     Utils: 1,047 +33.66 +3.3%   ...

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