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Intraday Market Direction Thursday: Nasdaq Lower…

Blog: June 2022

Bulkowski's Blog: ThePatternSite.com

As of 06/06/2022

  Indus: 32,916 +16.08 +0.0%  

  Trans: 14,555 +109.77 +0.8%  

  Utils: 1,023 +2.29 +0.2%  

  Nasdaq: 12,061 +48.64 +0.4%  

  S&P 500: 4,121 +12.89 +0.3%  

YTD

-9.4%  

-11.7%  

 +4.3%  

-22.9%  

-13.5%  

  Up arrow34,800 or 31,600 by 06/15/2022
  Up arrow15,300 or 13,400 by 06/15/2022
  Up arrow1,050 or 970 by 06/15/2022
  Up arrow12,800 or 11,000 by 06/15/2022
  Up arrow4,375 or 3,900 by 06/15/2022

As of 06/06/2022

  Indus: 32,916 +16.08 +0.0%  

  Trans: 14,555 +109.77 +0.8%  

  Utils: 1,023 +2.29 +0.2%  

  Nasdaq: 12,061 +48.64 +0.4%  

  S&P 500: 4,121 +12.89 +0.3%  

YTD

-9.4%  

-11.7%  

 +4.3%  

-22.9%  

-13.5%  

  Up arrow34,800 or 31,600 by 06/15/2022
  Up arrow15,300 or 13,400 by 06/15/2022
  Up arrow1,050 or 970 by 06/15/2022
  Up arrow12,800 or 11,000 by 06/15/2022
  Up arrow4,375 or 3,900 by 06/15/2022

 


Tuesday 6/7/22. Slider Trading Quiz!

The Dow climbed by 0.0% or 16.08 points. Since 10/01/1928 the Dow made 1347 similar moves on a percentage basis. After those moves, the next day’s…

     Average gain was 0.6% on 724 occasions.

     Average loss was -0.6% on 623 occasions.

Expect the Dow to close higher 53.7% of the time.

Weekly, since inception on 6/14/2011:

     The prediction of the Dow closing higher has been right 247/439 or 56.3% of the time.

     The prediction of the Dow closing lower has been right 47/97 or 48.5% of the time.

$ $ $

I show another slider trading quiz featuring SJW (symbol: SJW) stock.

$ $ $

Here’s a symbol list of 118 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AMD, AES, APD, ALK, AYX, AMZN, AIG, ATR, ARCB, AWI, AGO, ADSK, AVY, BSET, BZH, BBY, BIIB, BAH, BLDR, CACI, CALM, CE, CRL, CHS, CHD, CAG, GLW, COST, CCK, CSGS, DDS, DSGR, ^DJT, BOOM, EXP, EBAY, WIRE, EFX, EXPD, FFIV, FLEX, FDP, GME, GNW, GOOGL, GPRO, HQY, DHI, HOV, JBHT, NSP, IVC, JAZZ, KBH, LZB, LMT, LOW, MHO, M, MCHX, MDC, MLKN, MLI, NTAP, NJR, NWL, NEE, JWN, NOC, OMCL, PKG, PATK, KWR, RGA, ROK, ROG, ROST, SAIA, SAIC, SMG, SMTC, SWX, TOL, TSCO, TZOO, TG, UPS, VRTX, WSM, WWW, IYC, FXI, EWZ, EWH, EWI, EWP, IBB, DBA, PBE, PEJ, PXJ, PJP, PHO, ILF, XLY, XRT, UNG, 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

Top

© 2022 ThePatternSite.com    Metric   Value   Diff   Close (within 10% of the high-low range for the day)? 
 Monthly S2   29,074.45      
 Monthly S1   30,995.11   1,920.67   
 Weekly S2   32,136.27   1,141.16   
 Weekly S1   32,526.03   389.75   
 Monthly Pivot   32,556.43   30.40   Yes! The Monthly Pivot is close to the Weekly S1.
 Daily S2   32,574.35   17.92   Yes! The Daily S2 is close to the Monthly Pivot.
 Daily S1   32,745.06   170.71   
 Low   32,819.50   74.44   
 Weekly Pivot   32,899.18   79.68   
 Close   32,915.78   16.60   Yes! The Close is close to the Weekly Pivot.
 61.8% Down from Intraday High   32,978.36   62.58   
 Daily Pivot   32,990.21   11.85   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High   33,027.43   37.22   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 Open   33,032.04   4.61   Yes! The Open is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High   33,076.51   44.47   
 Daily R1   33,160.93   84.43   
 High   33,235.37   74.44   
 Weekly R1   33,288.94   53.57   
 Daily R2   33,406.09   117.15   
 Weekly R2   33,662.09   256.01   
 Monthly R1   34,477.09   815.00   
 Monthly R2   36,038.41   1,561.31   


Monday 6/6/22. Market Monday: The Week Ahead

My Prediction

Picture of the Nasdaq on the daily scale.

At ABC, the index formed a triple bottom. The index confirmed the pattern as a valid one when it closed above the red line D. Price coasted up to G before dropping.

If you measure the height of the pattern from C (lowest bottom) to D and add it to D, it falls short of the expected target at G.

At EF, a double bottom appears and confirmed when price gapped up on the way to H.

Will the index continue higher this week?

My guess? Yes, it will. The knot it just formed should pose a support/resistance area should price return to it. Of course, the index is still within
the knot now. I’m expecting it to soar out of the knot this week.

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A Brief Look Back

Picture of a flower from my garden.

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 222.84 points.

Wednesday: Down 176.89 points.

Thursday: Up 435.05 points.

Friday: Down 348.58 points.

Saturday: Holiday or other weird event!

For the Week…

The Dow industrials were down 313.26 points or 0.9%.

The Nasdaq composite was down 118.4 points or 1.0%.

The S&P 500 index was down 49.7 points or 1.2%.

Year to Date…

Dow Industrials

     11.0% down from the high of 36,952.65 on 01/05/2022.

     7.4% up from the low of 30,635.76 on 05/20/2022.

Nasdaq

     24.2% down from the high of 15,852.14 on 01/04/2022.

     8.9% up from the low of 11,035.69 on 05/20/2022.

S&P 500

     14.7% down from the high of 4,818.62 on 01/04/2022.

     7.8% up from the low of 3,810.32 on 05/20/2022.

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   32,662   32,781   32,958   33,077   33,255 
Weekly   32,131   32,515   32,894   33,278   33,657 
Monthly   29,069   30,984   32,551   34,466   36,033 
S&P500 (^GSPC): Daily   4,073   4,091   4,117   4,135   4,161 
Weekly   4,016   4,062   4,120   4,166   4,224 
Monthly   3,578   3,843   4,076   4,341   4,573 
Nasdaq (^IXIC): Daily   11,848   11,930   12,049   12,131   12,250 
Weekly   11,659   11,836   12,078   12,255   12,497 
Monthly   10,062   11,037   12,011   12,987   13,960 
  • 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 over.

Here’s a symbol list of 85 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
AXDX, APD, AKAM, ALK, AMZN, AIG, ANIK, ATR, ARCB, ACGL, ADSK, AVY, BSET, BZH, BBY, BLDR, CALM, CRL, CHS, CNO, GLW, COST, DDS, ^DJT, EBAY, EXPD, FFIV, FIS, FORM, FDP, GOOGL, GPRO, HSC, DHI, HOV, JBHT, INFN, NSP, IVC, JAZZ, KBH, LZB, LDOS, LOW, MHO, M, MNDT, MCHX, MDC, MDT, NTAP, NWL, NXGN, JWN, NOC, PKG, KWR, ROST, SAIA, SMG, TOL, TSCO, TZOO, WSM, ZBRA, IYC, IHI, ECH, EWM, PEJ, PXJ, XLY, XRT. 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. Oilfield Svcs/Equipment 1. Petroleum (Producing)
2. Petroleum (Producing) 2. Petroleum (Integrated)
3. Petroleum (Integrated) 3. Oilfield Svcs/Equipment
4. Natural Gas (Diversified) 4. Natural Gas (Diversified)
5. Natural Gas (Distributor) 5. Natural Gas (Distributor)
6. Electric Utility (Central) 6. Electric Utility (Central)
7. Aerospace/Defense 7. Electric Utility (West)
8. Electric Utility (West) 8. Short ETFs
9. Food Processing 9. Electric Utility (East)
10. Insurance (Prop/Casualty) 10. Food Processing
Best Performing Above Worst Performing Below
50. Semiconductor Cap Equip. 50. Retail Store
51. Internet 51. Trucking/Transp. Leasing
52. Toiletries/Cosmetics 52. Computer Software and Svcs
53. Healthcare Information 53. Homebuilding
54. Computer Software and Svcs 54. Apparel
55. E-Commerce 55. Internet
56. Semiconductor 56. Healthcare Information
57. Homebuilding 57. E-Commerce
58. Retail (Special Lines) 58. Computers and Peripherals
59. Computers and Peripherals 59. Shoe
60. Shoe 60. Retail (Special Lines)

— Thomas Bulkowski

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Friday 6/3/22. Pattern Trading Setups for the Weekend.

$ $ $

Here’s a symbol list of 154 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
MMM, ADBE, AEIS, AMD, AFL, APD, ALRM, ALK, ALL, AYX, AMZN, AFG, AIG, AMGN, AON, AAPL, ATR, ARCB, ACGL, AGO, ADSK, AVY, AVA, AXS, BCPC, BSET, BAX, BZH, BBY, BIO, BOOT, BRC, BLDR, CDNS, CALM, CENX, CRL, CHS, CIEN, CLNE, CNO, CONN, GLW, COST, CROX, XRAY, DDS, ^DJT, ^DJI, EBAY, EVH, EXPD, FFIV, FICO, FIS, FCX, FDP, GME, GOOGL, GPRO, HLIT, HQY, HON, DHI, HOV, JBHT, NSP, IPAR, IVC, JAZZ, JNJ, KBH, KFRC, KLAC, LZB, RAMP, LOW, MHO, M, MNDT, MANH, MDC, FB, MU, ^IXIC, NFLX, NTAP, NJR, NWL, JWN, NUS, NVDA, ORI, ASGN, OTEX, PKG, PANW, PYPL, KWR, RNG, ROG, ROST, ^GSPC, SAIA, CRM, SMG, NOW, SCCO, SNPS, TDOC, TER, TMO, TOL, TSCO, TZOO, VEEV, WU, WSM, WWW, ZBRA, IYC, FTEC, FDN, QTEC, FXL, QQQ, IAT, IGV, SOXX, SLV, EWK, EWC, ECH, EWQ, EWG, EIS, QLD, PEJ, IXN, SSO, XLY, GLD, XLB, XRT, SPY, XLK, UNG, SMH, 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.

$ $ $

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
DDD Ugly double bottom        05/12/2022 05/25/2022 Electronics
ACIW Triple bottom        05/12/2022 05/24/2022 IT Services
ADTN Triangle, symmetrical        05/05/2022 05/24/2022 Telecom. Equipment
AEIS Double Bottom, Eve and Eve        05/10/2022 05/24/2022 Semiconductor
AMD Ugly double bottom        05/12/2022 05/20/2022 Semiconductor
ALK Double Bottom, Adam and Adam        05/12/2022 05/24/2022 Air Transport
ALKS Diamond top        05/17/2022 06/02/2022 Drug
AMZN Horn bottom        05/09/2022 05/23/2022 Internet
AMN Pipe bottom        05/09/2022 05/16/2022 Human Resources
AWI Double Bottom, Adam and Eve        05/12/2022 05/24/2022 Building Materials
ADSK Double Bottom, Adam and Adam        05/12/2022 05/23/2022 Computer Software and Svcs
AZTA Ugly double bottom        05/10/2022 05/24/2022 Semiconductor Cap Equip.
BMI Double Bottom, Eve and Eve        05/12/2022 05/20/2022 Precision Instrument
BERY Pipe bottom        05/09/2022 05/16/2022 Packaging and Container
BFH Double Bottom, Adam and Adam        05/12/2022 05/20/2022 Information Services
CBT Double Bottom, Eve and Eve        04/07/2022 05/10/2022 Chemical (Diversified)
CDNS Pipe bottom        05/09/2022 05/16/2022 Computer Software and Svcs
CE Ugly double bottom        05/12/2022 05/24/2022 Chemical (Basic)
CLF Pipe bottom        05/09/2022 05/16/2022 Metals and Mining (Div.)
CMTL Triangle, symmetrical        05/02/2022 06/01/2022 Telecom. Equipment
CR Double Bottom, Adam and Eve        05/12/2022 05/20/2022 Diversified Co.
XRAY Ugly double bottom        05/10/2022 05/20/2022 Medical Supplies
DRQ Horn bottom        04/25/2022 05/09/2022 Oilfield Svcs/Equipment
EL Triple bottom        05/03/2022 05/25/2022 Toiletries/Cosmetics
FAST Double Bottom, Adam and Adam        05/12/2022 05/19/2022 Retail Building Supply
FDX Head-and-shoulders bottom        04/07/2022 05/19/2022 Air Transport
FLEX Double Bottom, Adam and Eve        05/12/2022 05/24/2022 Electronics
FLS Head-and-shoulders bottom        05/03/2022 05/20/2022 Machinery
FORM Rising wedge        04/27/2022 06/02/2022 Semiconductor
FRD Double Bottom, Adam and Adam        05/11/2022 05/25/2022 Building Materials
IT Triple bottom        05/09/2022 05/24/2022 IT Services
GE Head-and-shoulders bottom        05/02/2022 05/24/2022 Diversified Co.
HP Horn bottom        04/25/2022 05/09/2022 Petroleum (Producing)
DHI Horn bottom        05/09/2022 05/23/2022 Homebuilding
ITW Triangle, symmetrical        05/02/2022 06/02/2022 Metal Fabricating
IPI Triangle, symmetrical        05/12/2022 06/02/2022 Chemical (Diversified)
NVTA Triangle, descending        05/12/2022 06/02/2022 Medical Services
JKHY Pipe bottom        05/09/2022 05/16/2022 IT Services
KLIC Pipe bottom        04/25/2022 05/02/2022 Semiconductor Cap Equip.
MANH Triple bottom        05/12/2022 05/25/2022 IT Services
MU Triple bottom        04/27/2022 05/25/2022 Semiconductor
MCO Pipe bottom        05/09/2022 05/16/2022 Information Services
MS Pipe bottom        05/09/2022 05/16/2022 Securities Brokerage
MOS Triangle, symmetrical        05/04/2022 06/02/2022 Chemical (Diversified)
MYGN Ugly double bottom        05/10/2022 05/19/2022 Biotechnology
^IXIC Head-and-shoulders bottom        05/12/2022 05/24/2022 None
NKE Double Bottom, Adam and Eve        05/12/2022 05/25/2022 Shoe
NVDA Double Bottom, Adam and Eve        05/12/2022 05/20/2022 Semiconductor
PAYX Double Bottom, Adam and Eve        05/12/2022 05/20/2022 IT Services
PLXS Broadening top        05/04/2022 05/31/2022 Electronics
KWR Pipe bottom        05/16/2022 05/23/2022 Chemical (Specialty)
RMBS Double Bottom, Adam and Eve        05/12/2022 05/25/2022 Semiconductor Cap Equip.
RJF Triple bottom        05/12/2022 05/25/2022 Securities Brokerage
^GSPC Head-and-shoulders bottom        05/12/2022 05/24/2022 None
CRM Double Bottom, Adam and Eve        05/12/2022 05/24/2022 E-Commerce
SAIC Double Bottom, Adam and Adam        05/12/2022 05/20/2022 IT Services
NOW Triple bottom        05/12/2022 05/24/2022 IT Services
LUV Double Bottom, Adam and Eve        05/12/2022 05/25/2022 Air Transport
SSYS Ugly double bottom        05/12/2022 05/24/2022 Electronics
SUM Double Bottom, Eve and Eve        05/12/2022 05/24/2022 Cement and Aggregates
TPR Ugly double bottom        05/11/2022 05/25/2022 Apparel
TER Double Bottom, Eve and Eve        05/12/2022 05/20/2022 Semiconductor Cap Equip.
TXT Double Bottom, Adam and Adam        05/12/2022 05/20/2022 Diversified Co.
TMO Horn bottom        04/25/2022 05/09/2022 Precision Instrument
TJX Pipe bottom        05/09/2022 05/16/2022 Retail Store
VEEV Head-and-shoulders bottom        05/12/2022 05/24/2022 Healthcare Information
VC Ugly double bottom        04/26/2022 05/12/2022 Electronics
WRB Triple bottom        05/02/2022 05/20/2022 Insurance (Prop/Casualty)
WU Head-and-shoulders bottom        05/02/2022 05/20/2022 Financial Services
WOLF Double Bottom, Adam and Eve        05/12/2022 05/24/2022 Semiconductor
WWW Ugly double bottom        05/11/2022 05/24/2022 Shoe
MGK Head-and-shoulders bottom        05/12/2022 05/25/2022 None

 

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Thursday 6/2/22. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -0.7% or -86.93 points. Since 02/05/1971 the Nasdaq made 276 similar moves on a percentage basis. After those moves, the next day’s…

     Average gain was 0.8% on 133 occasions.

     Average loss was -1.0% on 143 occasions.

Expect the Nasdaq to close lower 51.8% of the time.

Weekly, since inception on 6/14/2011:

     The prediction of the Nasdaq closing higher has been right 238/421 or 56.5% of the time.

     The prediction of the Nasdaq closing lower has been right 63/133 or 47.4% 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 chart pattern shown here isn’t a trendline that I’m focused on, but a bump-and-run reversal top. The lead-in phase is at A. That’s a short and tight
move that follows an up-sloping trendline.

B is the bump phase. It suggests, but does not guarantee, price will head lower and pierce the trendline. The plunge could be substantial, about the height of the bump applied below the
trendline. If that were to happen, it would take the index down to about 11,200.

$ $ $

Here’s a symbol list of 193 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
MMM, ABT, ACIW, AFL, ALK, ALL, AMZN, AEO, AIG, ABC, AMGN, AON, ATR, ARCB, ACGL, ADM, AWI, ARW, ADSK, AVY, AVNT, BSET, BAX, BZH, BBY, BKH, BA, BKNG, BLDR, BG, CALM, CF, CRL, CHS, CINF, CTSH, CL, CONN, GLW, COST, COTY, CR, CSGS, DHR, DDS, DSGR, ^DJT, BOOM, EBAY, EL, EXPD, FFIV, FICO, FIS, FDP, FRD, GE, GS, GOOGL, GPRO, GGG, GES, HLIT, HSC, HIG, HE, HAYN, HQY, HELE, HSIC, HNI, HON, DHI, HOV, HUBG, JBHT, NSP, ITGR, INTC, IPAR, IPG, IVC, JKHY, JAZZ, JBLU, KALU, KBH, KELYA, KBAL, KMB, KSS, KLIC, LZB, LEN, LOW, MHO, M, MNDT, MAN, MTRX, MDC, MDT, MU, MCO, MS, NFLX, NTAP, NWL, JWN, ORI, ASGN, PKG, PKE, PTEN, PAYX, PYPL, PETS, PFE, PPL, PG, PEG, PHM, KWR, RGA, REV, RNG, ROG, ROST, SAIA, CRM, SMG, SEE, SEIC, SLGN, SKX, LUV, SRDX, TPR, TFX, TDC, TER, TXN, TKR, TOL, TSCO, TZOO, VFC, WSO, WU, WSM, WWW, IAI, IYC, ITB, DDM, SLV, IHI, EWZ, ECH, EWG, EWM, EWL, THD, EWU, PEJ, PJP, XLY, XLI, XRT, UNG, 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

Top

© 2022 ThePatternSite.com    Metric   Value   Diff   Close (within 10% of the high-low range for the day)? 
 Monthly S2   10,038.11      
 Weekly S2   10,700.35   662.25   
 Monthly S1   11,016.28   315.93   
 Weekly S1   11,347.41   331.12   
 Daily S2   11,708.10   360.69   
 Weekly Pivot   11,739.53   31.43   Yes! The Weekly Pivot is close to the Daily S2.
 Daily S1   11,851.28   111.75   
 Low   11,901.43   50.15   
 Close   11,994.46   93.03   
 Monthly Pivot   12,013.87   19.41   Yes! The Monthly Pivot is close to the Close.
 61.8% Down from Intraday High   12,029.98   16.11   Yes! The 61.8% Down from Intraday High is close to the Monthly Pivot.
 Daily Pivot   12,044.61   14.63   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High   12,069.68   25.07   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High   12,109.39   39.71   
 Open   12,176.89   67.50   
 Daily R1   12,187.79   10.90   Yes! The Daily R1 is close to the Open.
 High   12,237.94   50.15   
 Daily R2   12,381.12   143.18   
 Weekly R1   12,386.59   5.47   Yes! The Weekly R1 is close to the Daily R2.
 Weekly R2   12,778.71   392.13   
 Monthly R1   12,992.04   213.33   
 Monthly R2   13,989.63   997.58   


Wednesday 6/1/22. 2022 Forecast Update

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

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 31 May 2022 were…
(The numbering is how they ranked a month ago.)

1. Energy (+58%)

3. Utilities (5%)

2. Consumer staples (-3%)

4. Materials (-4%)

5. Health care (-5%)

8. Financials (-9%)

7. Industrials (-10%)

6. Real estate (-14%)

9. Information technology (-19%)

11. Communication services (-25%)

10. Consumer discretionary (-25%)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 5/27/22.

1. Information technology (IT)

2. Health care

4. Financials

3. Consumer discretionary

5. Communication services

6. Industrials

7. Consumer staples

8. Energy

10. Utilities

11. Materials

9. Real estate

Here’s how they rank the industries, but only the top 10 appear. One-year change, as of 5/27. The numbering is how they ranked a month ago.

2. Oil, gas and consumable fuels (+73%)

1. Energy equipment and services (+59%)

9. Construction and engineering (+31%)

7. Pharmaceuticals (+22%)

6. Health care technology (20%)

5. Health care providers and services (+18%)

New. Multi-utilities (+17%)

10. Technology hardware, storage, and peripherals (17%)

New. Electric utilities (16%)

New. Automobiles (13%)

$ $ $

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:
ATSG, AA, AYX, AMZN, AEO, ADM, BIIB, CACI, CENX, CRL, CVX, CONN, COTY, FFIV, FDS, FCX, FRD, HP, HOLX, NSP, IBKR, JAZZ, MRO, MGEE, MOS, MYGN, PTEN, REV, RNG, RLI, SAIA, CRM, SLB, SKX, SCCO, TPR, TKR, VFC, VMI, VRTX, WEX, IYC, IEZ, FXI, IHF, EWZ, EWC, ECH, EEM, EWH, EWM, EZA, EWY, EWT, TUR, EWU, DBA, PBE, PXJ, IXC, ILF, MXI, XLY, 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

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Blog: August 2022 As of 08/04/2022   Indus: 32,727 -85.68 -0.3%     Trans: 14,479 +52.13 +0.4%     Utils: 1,022 -4.12 -0.4%   ...

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