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Intraday Market Direction Thursday: Nasdaq Higher…






Blog: November 2023


Bulkowski's Blog: ThePatternSite.com

As of 11/06/2023

  Indus: 34,096 +34.54 +0.1%  

  Trans: 14,503 -9.79 -0.1%  

  Utils: 854 -5.72 -0.7%  

  Nasdaq: 13,519 +40.50 +0.3%  

  S&P 500: 4,366 +7.64 +0.2%  

YTD

 +2.9%  

 +8.3%  

-11.7%  

 +29.2%  

 +13.7%  

  Up arrow34,750 or 32,875 by 11/15/2023
  Up arrow15,100 or 14,100 by 11/15/2023
  Up arrow885 or 790 by 11/15/2023
  Up arrow13,675 or 12,680 by 11/15/2023
  Up arrow4,450 or 4,150 by 11/15/2023

As of 11/06/2023

  Indus: 34,096 +34.54 +0.1%  

  Trans: 14,503 -9.79 -0.1%  

  Utils: 854 -5.72 -0.7%  

  Nasdaq: 13,519 +40.50 +0.3%  

  S&P 500: 4,366 +7.64 +0.2%  

YTD

 +2.9%  

 +8.3%  

-11.7%  

 +29.2%  

 +13.7%  

  Up arrow34,750 or 32,875 by 11/15/2023
  Up arrow15,100 or 14,100 by 11/15/2023
  Up arrow885 or 790 by 11/15/2023
  Up arrow13,675 or 12,680 by 11/15/2023
  Up arrow4,450 or 4,150 by 11/15/2023


Tuesday 11/7/23. Slider Trading Quiz!

The Dow climbed by 0.1% or 34.54 points. Since 10/01/1928 the Dow made 1403 similar moves on a percentage basis. After those moves, the next day’s…

     Average gain was 0.5% on 720 occasions.

     Average loss was -0.6% on 683 occasions.

Expect the Dow to close higher 51.3% of the time.

Weekly, since inception on 6/14/2011:

     The prediction of the Dow closing higher has been right 275/499 or 55.1% of the time.

     The prediction of the Dow closing lower has been right 52/109 or 47.7% of the time.

$ $ $

I show another slider trading quiz featuring Triangles, descending..

$ $ $

Here’s a symbol list of 141 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AFL, APD, ALK, AA, AYX, AMED, AEO, AMGN, ARCB, ASH, BSET, BECN, BZH, BERY, BIG, BA, BKNG, BBW, CBT, CLS, CX, CHKP, CSCO, CLF, CNO, GLW, CMI, CW, XRAY, DSGR, DRQ, EME, WIRE, EXPI, EXPD, FDS, FLEX, FORM, FRD, GL, GGG, HIG, HTLD, HP, HOV, IEX, IDXX, ITGR, IPAR, IRM, KELYA, KLAC, L, MHO, M, MCHX, MOS, NBR, NJR, NWL, NXGN, NWPX, NUS, OXY, ON, PKG, PATK, PTEN, PCTY, PYPL, PNW, PINC, PRU, PSTG, DGX, RL, RJF, ROK, ROL, RES, SMG, SEE, SMTC, STR, SKYW, SMAR, LUV, SCS, TPR, TGT, TDOC, TFX, TKR, TZOO, TWLO, SLCA, MDRX, WRB, WEX, WMB, WWD, ZBRA, IYM, IYC, IHE, FTEC, ICF, IAT, IYZ, IXC, MXI, IGE, IEO, IHI, EWA, EWK, ECH, EEM, EWH, EWI, EWM, EWS, EWY, EWT, DBA, PXJ, XAR, VIS. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The 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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© 2023 ThePatternSite.com    Metric   Value   Diff   Close (within 10% of the high-low range for the day)? 
 Monthly S2   31,692.47      
 Weekly S2   31,972.92   280.45   
 Monthly S1   32,894.16   921.24   
 Weekly S1   33,034.39   140.23   
 Monthly Pivot   33,528.90   494.51   
 Weekly Pivot   33,599.01   70.11   
 Daily S2   33,906.74   307.73   
 Low   33,989.72   82.98   
 Daily S1   34,001.30   11.58   Yes! The Daily S1 is close to the Low.
 61.8% Down from Intraday High   34,057.54   56.24   
 50% Down from Intraday High   34,078.49   20.95   
 Daily Pivot   34,084.28   5.79   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Open   34,092.61   8.33   Yes! The Open is close to the Daily Pivot.
 Close   34,095.86   3.25   Yes! The Close is close to the Open.
 38.2% Down from Intraday High   34,099.44   3.58   Yes! The 38.2% Down from Intraday High is close to the Close.
 High   34,167.26   67.82   
 Daily R1   34,178.84   11.58   Yes! The Daily R1 is close to the High.
 Daily R2   34,261.82   82.98   
 Weekly R1   34,660.48   398.66   
 Monthly R1   34,730.59   70.11   
 Weekly R2   35,225.10   494.51   
 Monthly R2   35,365.33   140.23   


Monday 11/6/23. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

I show the Dow utilities on the daily scale.

I highlighted a gap on the chart but it appears on the charts of other indices, too. To me it looks as if the uptrend is going to stop, probably Monday.

The gap is called an exhaustion gap and it comes at the end of a move. Here’s what I write on the website: “Happens at the end of a trend on high volume. The gap is usually not
followed by new highs or lows, and the gap may be unusually tall. After the gap, price consolidates or reverses direction. Commonly occurs after continuation gaps. Exhaustion gaps usually close within a week.

Although we won’t know for sure if it’s an exhaustion gap yet, I think it’s likely.

The Dow industrials already shows a continuation gap. This could be another continuation gap but more likely it’s an exhaustion gap.

What are the implications of that? Look for a quick reversal. “Violent reversals can follow an exhaustion gap…” Again, that’s from the above link. I see price dropping back to A before a recovery.

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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: Up 511.37 points.

Tuesday: Up 123.91 points.

Wednesday: Up 221.71 points.

Thursday: Up 564.5 points.

Friday: Up 222.24 points.

For the Week…

The Dow industrials were up 1643.73 points or 5.1%.

The Nasdaq composite was up 835.27 points or 6.6%.

The S&P 500 index was up 240.97 points or 5.9%.

Year to Date…

Dow Industrials

     4.5% down from the high of 35,679.13 on 08/01/2023.

     8.4% up from the low of 31,429.82 on 03/15/2023.

Nasdaq

     6.7% down from the high of 14,446.55 on 07/19/2023.

     31.3% up from the low of 10,265.04 on 01/06/2023.

S&P 500

     5.4% down from the high of 4,607.07 on 07/27/2023.

     14.9% up from the low of 3,794.33 on 01/03/2023.

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   33,840   33,951   34,057   34,168   34,274 
Weekly   31,961   33,011   33,587   34,637   35,214 
Monthly   31,681   32,871   33,517   34,708   35,354 
S&P500 (^GSPC): Daily   4,316   4,337   4,355   4,377   4,395 
Weekly   4,048   4,203   4,288   4,444   4,529 
Monthly   3,995   4,177   4,285   4,467   4,575 
Nasdaq (^IXIC): Daily   13,272   13,375   13,448   13,551   13,623 
Weekly   12,401   12,940   13,230   13,769   14,059 
Monthly   12,075   12,777   13,245   13,947   14,416 
  • 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 291 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
DDD, MMM, ANF, ABM, ACN, AYI, ADTN, AES, AFL, APD, AKAM, AEE, AEO, AXP, AMWD, APH, ANIK, ATR, ARCB, AWI, AVY, AVA, AZTA, BCPC, BSET, BECN, BZH, BERY, BIO, BIIB, BKH, BA, BAH, BRC, BCO, BLDR, CE, CF, CRL, CIEN, CLNE, CLF, CNO, CNX, CAG, CSGP, COTY, CTS, DDS, DFS, DSGR, ^DJU, ^DJT, ^DJI, DOV, DRQ, BOOM, EMN, ECL, EME, EMR, WIRE, EFX, EVRG, EZPW, FICO, FIS, FISV, FLEX, FLS, FTNT, IT, GNW, GILD, GMS, GS, GGG, GFF, GES, HBI, HE, HAYN, HON, DHI, HWM, HUM, ILMN, IBP, PODD, ITGR, TILE, IPG, IRM, JBLU, KBH, KMT, KMB, KLAC, KSS, LHX, LZB, LH, LDOS, LEN, RAMP, LPLA, MHO, M, MAN, MCHX, MAS, MA, MTRN, MDC, MDT, MU, MLKN, MCO, MS, MLI, ^IXIC, NTGR, NJR, NXGN, NUS, OGE, OMCL, OMC, OUT, OMI, OXM, PKG, PDCO, PCTY, PRFT, PNW, POR, PPG, PINC, PGR, PHM, PSTG, QTWO, DGX, RJF, RGS, ROL, ROP, ROST, ^GSPC, SBH, SCHW, SEIC, SIGI, SRE, SHW, SLGN, STR, SKYW, SWX, SWN, SR, SCS, TGT, TPX, TER, TXN, TXT, TTD, TKR, TJX, TOL, TDG, TZOO, TREX, UHAL, UGI, V, WU, WLK, WEX, WMB, WWD, ZBRA, ITA, IYM, IAI, IYK, IYC, ITB, IHE, IDU, DDM, FXL, FXI, BOTZ, QQQ, ICF, IYH, IAT, IYZ, IEV, MXI, ILF, SOXX, SLV, IYF, IHI, EWA, EWO, EWK, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, THD, EWU, QLD, IBB, PPA, DBA, PBE, PEJ, PJP, PHO, SSO, ROBO, XLY, XLF, GLD, XLV, XHB, XLI, XLB, XRT, SPY, XAR, XLU, SMH, VHT, VIS, VAW, MGK, VONG. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

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

This Week Last Week
1. Petroleum (Producing) 1. Petroleum (Producing)
2. Computer Software and Svcs 2. Semiconductor
3. Semiconductor Cap Equip. 3. Computer Software and Svcs
4. Semiconductor 4. Semiconductor Cap Equip.
5. E-Commerce 5. Oilfield Svcs/Equipment
6. Insurance (Life) 6. E-Commerce
7. Oilfield Svcs/Equipment 7. Cement and Aggregates
8. Homebuilding 8. Insurance (Life)
9. IT Services 9. Internet
10. Building Materials 10. Short ETFs
Best Performing Above Worst Performing Below
50. Chemical (Diversified) 50. Securities Brokerage
51. Short ETFs 51. Electric Utility (Central)
52. Electric Utility (East) 52. Precision Instrument
53. Electric Utility (Central) 53. Household Products
54. Precision Instrument 54. Electric Utility (East)
55. Metal Fabricating 55. Advertising
56. Household Products 56. Metal Fabricating
57. Electric Utility (West) 57. Electric Utility (West)
58. Food Processing 58. Food Processing
59. Toiletries/Cosmetics 59. Medical Supplies
60. Medical Supplies 60. Toiletries/Cosmetics

— Thomas Bulkowski

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Friday 11/3/23. Pattern Trading Setups for the Weekend.

$ $ $

Here’s a symbol list of 242 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
DDD, ANF, AYI, ADBE, AEIS, AES, AKAM, ALK, ALGT, AYX, AEE, AEP, AXP, AIG, APH, ANIK, AMAT, ATR, ARCB, AWI, ARW, BCPC, BSET, BECN, BZH, BERY, BKH, BKNG, BRC, BRKR, CLS, CX, COR, CDAY, CHS, CHD, CINF, CLNE, CLF, CROX, CCRN, CTS, XRAY, DFS, DSGR, ^DJT, ^DJI, EXP, EME, WIRE, EQT, EL, EVRG, EXPI, EZPW, FDS, FARO, FIS, FLEX, FWRD, GPS, GIS, GNW, GILD, GPN, GMS, GOOGL, GGG, GFF, HBI, HAYN, HQY, HP, HSIC, HNI, HD, DHI, HOV, HWM, HUM, HURC, IEX, IBP, ITGR, ISRG, IRM, JNJ, KBH, KELYA, KEYS, KLAC, KSS, LHX, LANC, LEN, LNC, LMT, LOW, MHO, MANH, MCHX, MAS, MDC, MGEE, MCO, MLI, ^IXIC, NTAP, NJR, NEWR, NEU, NEE, NXGN, NWPX, NUS, OMCL, ASGN, ON, OR, OUT, PKG, PATK, PYPL, PEN, PLXS, PG, PHM, QTWO, KWR, RNG, ROK, ROL, RES, R, ^GSPC, CRM, SBH, SEE, SRE, SCI, NOW, STR, SKYW, SWN, SPSC, SXI, SCS, TPR, TDY, TFX, TXN, TTD, TOL, TDG, TREX, SLCA, UIS, UNM, VEEV, VRSN, V, WAT, WSO, WLK, WEX, WMB, WSC, WWD, ITA, IAI, IYC, ITB, DDM, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, ICF, IYH, IAT, IYZ, IEV, IGV, IXN, ILF, IYF, IHI, EWA, EWO, EWK, EWZ, EWQ, EWG, EWH, EIS, EWI, EWJ, EWW, EPP, EWY, EWP, EWL, EWT, QLD, PPA, DBA, PBE, PEJ, PHO, SSO, XLY, XLF, XHB, XLI, SPY, XAR, XLK, VIS, MGK, VONG. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

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
MMM Head-and-shoulders bottom        10/06/2023 10/27/2023 Diversified Co.
ADBE Pipe top        10/09/2023 10/16/2023 Computer Software and Svcs
ALRM Double Top, Adam and Eve        08/11/2023 09/25/2023 Computer Software and Svcs
AEO Triangle, ascending        10/12/2023 11/02/2023 Apparel
AXP Double Bottom, Adam and Adam        10/23/2023 10/27/2023 Financial Services
AIG Three Rising Valleys        08/22/2023 10/23/2023 Insurance (Prop/Casualty)
AR Ugly double bottom        10/04/2023 10/26/2023 Natural Gas (Diversified)
ARCB Pipe bottom        10/16/2023 10/23/2023 Trucking/Transp. Leasing
AVA Double Bottom, Eve and Eve        10/03/2023 10/23/2023 Electric Utility (West)
AXS Head-and-shoulders top        09/20/2023 11/02/2023 Insurance (Prop/Casualty)
BSET Ugly double bottom        09/29/2023 10/16/2023 Furn/Home Furnishings
CX Triangle, symmetrical        09/29/2023 11/01/2023 Cement and Aggregates
CF Triple top        09/26/2023 10/10/2023 Chemical (Basic)
CLF Pipe bottom        10/16/2023 10/23/2023 Metals and Mining (Div.)
CCRN Dead-cat bounce        11/02/2023 11/02/2023 Human Resources
WIRE Head-and-shoulders top        09/29/2023 10/17/2023 Metals and Mining (Div.)
EL Dead-cat bounce        11/01/2023 11/01/2023 Toiletries/Cosmetics
EXC Ugly double bottom        10/03/2023 10/23/2023 Electric Utility (East)
FE Ugly double bottom        10/03/2023 10/23/2023 Electric Utility (East)
GIS Ugly double bottom        10/06/2023 10/30/2023 Food Processing
HQY Double Top, Adam and Eve        09/28/2023 10/13/2023 Healthcare Information
IDA Head-and-shoulders complex bottom        08/21/2023 10/31/2023 Electric Utility (West)
ITGR Pipe bottom        10/16/2023 10/23/2023 Electronics
TILE Head-and-shoulders complex top        09/14/2023 10/05/2023 Furn/Home Furnishings
KLIC Double Bottom, Adam and Adam        10/25/2023 11/01/2023 Semiconductor Cap Equip.
LDOS Head-and-shoulders bottom        09/26/2023 10/27/2023 IT Services
LLY Pipe top        10/09/2023 10/16/2023 Drug
LMT Ugly double bottom        10/06/2023 10/27/2023 Aerospace/Defense
MHO Pipe bottom        10/16/2023 10/23/2023 Homebuilding
MGEE Ugly double bottom        10/03/2023 10/25/2023 Electric Utility (Central)
OMC Triangle, symmetrical        10/04/2023 11/01/2023 Advertising
ON Dead-cat bounce        10/30/2023 10/30/2023 Semiconductor
PANW Pipe top        10/09/2023 10/16/2023 Computer Software and Svcs
PKE Triangle, symmetrical        10/06/2023 10/31/2023 Chemical (Specialty)
PATK Triple bottom        10/09/2023 10/26/2023 Retail Building Supply
PETS Dead-cat bounce        10/31/2023 10/31/2023 Medical Services
PCG Pipe bottom        10/02/2023 10/09/2023 Electric Utility (West)
PEG Ugly double bottom        10/03/2023 10/23/2023 Electric Utility (East)
SBH Pipe bottom        10/09/2023 10/16/2023 Toiletries/Cosmetics
SIGI Diamond top        09/25/2023 11/01/2023 Insurance (Prop/Casualty)
SRE Ugly double bottom        10/03/2023 10/23/2023 Electric Utility (West)
SHW Double Bottom, Adam and Adam        10/24/2023 10/30/2023 Chemical (Basic)
TRGP Ugly double bottom        10/05/2023 10/30/2023 Natural Gas (Diversified)
TEVA Double Bottom, Adam and Adam        10/23/2023 10/27/2023 Drug
V Triple bottom        09/27/2023 10/27/2023 Financial Services
WRB Three Rising Valleys        08/23/2023 10/23/2023 Insurance (Prop/Casualty)
WPM Diamond top        10/17/2023 11/02/2023 Metals and Mining (Div.)
FDN Triple top        07/19/2023 09/11/2023 Internet
SOXX Head-and-shoulders complex top        06/14/2023 09/05/2023 Semiconductor

 

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Thursday 11/2/23. Intraday Market Direction: Nasdaq

The Nasdaq climbed by 1.6% or 210.23 points. Since 02/05/1971 the Nasdaq made 100 similar moves on a percentage basis. After those moves, the next day’s…

     Average gain was 0.8% on 52 occasions.

     Average loss was -1.2% on 48 occasions.

Expect the Nasdaq to close higher 52.0% of the time.

Weekly, since inception on 6/14/2011:

     The prediction of the Nasdaq closing higher has been right 264/471 or 56.1% of the time.

     The prediction of the Nasdaq closing lower has been right 74/155 or 47.7% 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.

The red lines show a V-bottom. Notice that it took price 1.5 days to drop and 4.5 days to recover and it hasn’t quite made it back to where it started from, at about 13,150 (Tuesday’s close).

It’s no surprise that price drops twice as fast (or more) than it rises.

The blue line is overhead resistance. We might see one more day of rising prices but after that, I think we’ll see a pause to mirror what we see on the left part of the V (where the blue line is).

$ $ $

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, ACN, AYI, ADBE, AEIS, AA, ALGT, AYX, AMZN, AEO, AEP, AME, APH, ARCB, ADM, AGO, ADP, AVA, BALL, BZH, BERY, BIG, BA, BAH, BRC, BFH, BMY, CDNS, CALM, CE, CHKP, CLF, CMTL, COP, CRH, CTS, DSGR, EME, WIRE, EOG, EL, EVRG, EZPW, FLEX, FMC, FTNT, FDP, GIS, GNW, GILD, GL, GGG, HBI, HQY, HP, HOV, HUN, HURC, IDA, IEX, ITW, INCY, IIIN, ITGR, TILE, JKHY, KALU, KMT, LANC, LDOS, RAMP, LPLA, MHO, MRO, MCHX, MLM, MTRN, MTRX, META, MGEE, MU, MSFT, ^IXIC, NOV, NFLX, NWL, NEE, NOC, NUS, OXY, OMC, ORCL, OXM, PKG, PTEN, PAYX, PXD, REGN, RGS, RGA, ROK, ROL, ^GSPC, SCI, SHOP, STR, SKYW, SSYS, TDY, TKR, SLCA, VFC, VRSN, WSO, WEX, WMB, WWW, FTEC, QQQ, IYZ, IXN, ILF, SOXX, EWQ, EIS, EWJ, QLD, IBB, PXJ, SSO, ROBO, XLE, SPY, XLK, SMH, MGK, VONG. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

The 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

Top

© 2023 ThePatternSite.com    Metric   Value   Diff   Close (within 10% of the high-low range for the day)? 
 Monthly S2   11,936.21      
 Weekly S2   12,298.71   362.50   
 Monthly S1   12,498.84   200.13   
 Weekly S1   12,680.09   181.25   
 Daily S2   12,805.81   125.72   
 Low   12,875.20   69.39   
 Open   12,887.06   11.86   Yes! The Open is close to the Low.
 Weekly Pivot   12,925.24   38.18   
 Daily S1   12,933.64   8.40   Yes! The Daily S1 is close to the Weekly Pivot.
 61.8% Down from Intraday High   12,950.54   16.90   Yes! The 61.8% Down from Intraday High is close to the Daily S1.
 50% Down from Intraday High   12,973.81   23.27   
 38.2% Down from Intraday High   12,997.08   23.27   
 Daily Pivot   13,003.03   5.95   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close   13,061.47   58.44   
 High   13,072.42   10.95   Yes! The High is close to the Close.
 Monthly Pivot   13,106.49   34.07   
 Daily R1   13,130.86   24.37   
 Daily R2   13,200.25   69.39   
 Weekly R1   13,306.62   106.37   
 Weekly R2   13,551.77   245.15   
 Monthly R1   13,669.12   117.35   
 Monthly R2   14,276.77   607.65   


Wednesday 11/1/23. 2023 Forecast Update

Here’s the updated 2023 forecast, presented in slider format.

$ $ $

I released new research about detecting a large drop after price peaks. See Monthly candles

$ $ $

Here’s a symbol list of 69 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
A, ALGT, ALL, AEO, AEL, AFG, AMGN, ARCB, AGO, AVA, BSET, BECN, BZH, BERY, BA, BRC, BG, CNP, CLF, CMTL, DHR, DSGR, EME, WIRE, EXPI, FICO, FLEX, FMC, FWRD, GGG, HBI, HLIT, HQY, ITGR, IPI, NVTA, JBLU, K, KFRC, KSS, MHO, MCHX, NEU, NEE, NXGN, JWN, OMC, ON, PKG, PTEN, PETS, PFE, ROL, SKYW, SCS, SSYS, SLCA, IEZ, FXL, IHI, EWK, EWJ, PHO, ROBO. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

— Thomas Bulkowski

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2024 Forecast…

Blog: January 2024 As of 01/05/2024   Indus: 37,466 +25.77 +0.1%     Trans: 15,509 +10.50 +0.1%     Utils: 899 +3.16 +0.4%   ...

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