Nasdaq Higher. Cryptocurrency: Doge…

Wednesday 9/8/21. 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 has signaled a bearish turn for the markets, but don’t let it fool you. It could be a fake signal because the indicator can change for up to a week. However, it’s usually stable after
three days.

The drop from near or at 100 to below 36 suggests a radical change in the markets, as if it was waiting to tumble. So maybe this is real, but only time will tell if that’s true.

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).

This week, compared to a week ago, the red and blue lines dipped one percentage point each. That’s not a big move compared to what we’ve seen in the past. Even so, any downward move is bearish.

In fact, if you look at the red line, you’ll see that the late August peak is below the peak in early August, suggesting weakness, too. So maybe today’s decline is more serious than just
a one day’s weakness.

Of course, we’ll find out in the coming days but it’ll pay to be careful here. Remember September is, historically the weakest month of the year.

$ $ $

Here’s a symbol list of 127 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ACIW, ADBE, ADTN, ALRM, AA, AEE, ABC, ANIK, ACGL, AWI, ATO, BLL, BBBY, BIIB, EPAY, BRC, BRKS, BBW, CACI, CDNS, CALM, CLS, CF, CHKP, CHD, CNA, ED, CR, CROX, CSGS, CW, XRAY, D, DUK, EMN, EPAM, EFX, RE, FFIV, FEYE, FLS, FDP, GIS, GILD, GL, GPRO, HIG, HE, HP, HSY, HON, ITW, IBP, IIIN, IPAR, KELYA, KLIC, LANC, LEN, RAMP, LMT, MHO, MANH, MAS, MGEE, MCO, MYGN, NBR, NFG, NOV, NFLX, NEU, NKE, OGE, OMC, ASGN, PAYX, PPG, PG, PGR, PEG, RGA, REV, ROST, SEE, SEIC, SIGI, SO, SR, SCS, TPX, TER, RIG, TZOO, UGI, UPS, VC, WU, WWW, ZBRA, FDN, FXL, BOTZ, ICF, EWO, EWK, EEM, EWS, QLD, PPA, QQQ, PHO, IEV, IXN, XAR. 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 9/7/21. Slider Trading Quiz!

Weekly, since inception on 6/14/2011:

     The prediction of the index closing higher has been right 229/408 or 56.1% of the time.

     The prediction of the index closing lower has been right 42/89 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring Coherent (COHR).

$ $ $

Here’s a symbol list of 132 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
ABT, ANF, AKAM, AA, DOX, ANIK, AMAT, ACGL, ASH, AGO, BLL, BSET, BBBY, BKNG, BRC, BRKS, BBW, COG, CACI, CX, CHS, CLF, CMCO, ED, CONN, CSGS, D, BOOM, EMN, EPAM, EQT, FISV, FLS, FMC, FCX, FDP, GNW, GL, HIG, HTLD, HL, HP, HON, IDA, IIIN, IBKR, IVC, JKHY, KBAL, KLAC, LHX, LRCX, LEG, LEN, LNC, RAMP, LMT, MTRN, MGEE, ^IXIC, NEU, JWN, NVDA, OXY, OGE, OMC, ASGN, PKE, PYPL, PFE, PCG, PICO, PFG, PG, PRU, KWR, RGA, RCKY, ROST, SEE, SRE, SO, LUV, SWN, SXI, SCS, TGT, TER, TOL, TSCO, TZOO, UGI, VC, WERN, WU, WDAY, XLNX, FTEC, FDN, QTEC, BOTZ, EWA, EWO, EWZ, EEM, EIS, EWJ, EWW, EZA, EWT, IXN, GLD, 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

Monday, Labor Day, 9/6/21. Site Support

Monday is a trading holiday in the US.

If you wish to support the website, then try one of these options.

1. 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.

2. 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.

 

3. 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 9/3/21. Pattern Trading Setups for the Weekend.

$ $ $

Here’s a symbol list of 144 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
MMM, ANF, AA, ADS, AEO, ABC, ANIK, ACGL, ASH, AGO, AVA, BSET, BAX, BBBY, BBY, BMRN, EPAY, BRKS, BBW, BLDR, COG, CPB, CLS, CX, CNC, CF, CVX, CHS, CLF, CMCO, CONN, COP, COST, CROX, CW, DHR, DECK, ^DJT, DOV, DTE, BOOM, EFX, EQT, XOM, FAST, FIS, FE, FISV, FMC, FCX, FRD, GNW, GL, GOOGL, GPRO, HIG, HL, HP, HOV, ILMN, IBKR, ISRG, IVC, JKHY, JNJ, KMB, LHX, LZB, LH, LEN, RAMP, L, MTSI, MA, MTRX, MU, NBR, JWN, NWPX, NUS, OXY, ASGN, PFE, PG, PEG, KWR, DGX, RCKY, CRM, SIGI, SMTC, SHW, SWN, SCS, SUM, SRDX, TDC, TER, TXT, TOL, TREX, VFC, V, WAT, WERN, WSM, IHI, FXI, BOTZ, ICF, EWA, EWO, EWZ, EEM, EPP, EWS, EZA, EWD, PBE, PJP, ROBO, IEV, ILF, XLY, XLE, XLV, XLI, XRT, UNG, VHT, 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.

$ $ $

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.

There were 21 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 3.7%. Based on the percentage, the stock market is
trending since few consolidation patterns appear.

I found 7 pipe bottom chart patterns, which is neutral. High numbers of pipe bottoms can signal a bullish move (I see many of them just before a bear market ends or during a bear market rally. Often it means the first bottom of a double bottom has formed. Thus, expect a move down to the second bottom).

Excluding ETFs, there were 16 bullish chart patterns this week and 3 bearish ones with any remaining (9) being undecided.
The ratio of bullish to bearish patterns suggests the market is bullish.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

— Thomas Bulkowski

Thursday 9/2/21. Cryptocurrency DOGE-USD

Weekly, since inception on 6/14/2011:

     The prediction of the index closing higher has been right 225/393 or 57.3% of the time.

     The prediction of the index closing lower has been right 58/123 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 thought I’d oscillate discussing the Nasdaq with cryptocurrencies each Thursday.

I show a chart of DOGE on the daily scale. The price scale of this chart ranges from a dime to 45 cents. Tiny, in other words. I had to play with the settings of both time and price
to get what I wanted. It’s on a linear scale because the log scale on my chart doesn’t like price below a buck.

AB is a Adam & Eve double bottom. It confirms when the coin closes above blue line C. In this case, the move after that doesn’t meet the measure rule.

By that, I mean the height AC added to C should give a target and it does, but the coin doesn’t reach it.

Line BE outlines a bump-and-run reversal top. The lead-in phase is tight with price climbing near a constant pace. After that, we see the bump take price up to
D. And then down she goes, toward E.

The coin could touch the trendline and bounce upward in a dual bump or it could plunge right through. It might bounce off the line and rise. I don’t know which of these three scenarios
is more likely, but it merits watching. If the BARR top works like it’s supposed to, you’ll see the coin drop below the trendline, perhaps making a large drop. First, though, the coin
has to return to the red trendline.

$ $ $

Here’s a symbol list of 151 chart and candlestick patterns (13 “investment grade” candle patterns) found in today’s securities using my version of Patternz:
DDD, ABT, ANF, AFL, ALRM, ALB, AA, ADS, AMZN, AEL, AMGN, APH, ARCB, ACGL, AGO, AXS, BSET, BZH, BBBY, BIIB, BRKS, BBW, COG, CPB, CLS, CX, CNC, CHKP, CHS, CINF, CAG, COST, CRH, CW, DECK, DFS, BOOM, EMR, EOG, EPAM, EQT, EXPD, EZPW, FICO, FOE, FE, FMC, FTNT, FCX, GPS, GNW, GL, HIG, HL, HP, HON, IIIN, IVC, LH, LANC, LDOS, RAMP, L, MHO, MCO, MUR, MYGN, ^IXIC, NTGR, NEU, JWN, NOC, OXY, ASGN, PAYX, PRFT, PFE, PCG, PFG, PRU, PEG, KWR, RCKY, ROST, SEE, NOW, SHW, SLGN, SWN, TER, TXN, TMO, TJX, UNM, VLO, VRTX, WAT, WSM, ZBRA, IYM, IYC, IHI, DDM, FDN, FXI, BOTZ, ICF, IAT, IYZ, EWA, EWK, EWZ, EWC, EEM, EWQ, EWJ, EWW, EPP, EZA, EWY, EWT, QLD, DBA, PBE, QQQ, ROBO, IEV, IXN, ILF, XLY, XLB, XAR, UNG, 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 Nasdaq composite, sorted by value. When several are near each other (small differences),
the area might act as support or resistance.

— Thomas Bulkowski

Wednesday 9/1/21. 2021 Forecast Update

Here’s the updated 2021 forecast for September, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for one-year performance as of 31 August 2021 were…
(The numbering is how they ranked a month ago.)

1. Financials (+52%)

2. Communication services (+36%)

5. Materials (+34%)

6. Energy (+34%)

4. Industrials (+33%)

8. Real estate (+31%)

3. Information technology (+29%)

9. Health care (+25%)

7. Consumer discretionary (+17%)

11. Utilities (+16%)

10. Consumer staples (+11%)

The list shuffled from a month ago. Utilities lifted off the bottom. Information technology was in third place but it slipped to seventh.

The folks at two firms polled by Fidelity weigh the sectors in this order. It’s puzzling that the experts think IT will outperform and yet it dropped substantially in one month.

1. Information technology (IT)

2. Health care

3. Consumer discretionary

5. Financials

4. Communication services

6. Industrials

7. Consumer staples

8. Real estate

10. Materials

11. Utilities

9. Energy

Here’s how they rank the industries, but only the top 10 appear. One-year change, as of 8/31. The numbering is how they ranked a month ago but that was based on year-to-date performance.
This list is for one year performance.

1. Real estate management and development (101%)

2. Consumer finance (+91%)

4. Construction and engineering (+75%)

9. Construction materials (66%)

10. Banks (+60%)

5. Building products (59%)

(new). Electronic equipment instruments and components (58%)

3. Auto components (+55%)

6. Personal products (54%)

(new). Capital markets (53%)

$ $ $

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:
ABT, ANF, AA, AEE, AEO, ABC, AMN, APH, AON, APA, ATR, ASH, AIZ, BSET, BBBY, BERY, BBY, BIG, BIIB, BMRN, BOOT, BRKS, COG, CX, CHKP, CHS, CHD, CLR, CROX, CTS, DOV, BOOM, EIX, WIRE, EPAM, EQT, EL, EXPD, EZPW, FICO, FOE, FIVN, FMC, FORM, FTNT, FCX, IT, GNW, EVRG, HBI, HE, HL, HP, HSY, JBHT, INOV, IBP, ITGR, IVC, LEG, LLY, LNC, RAMP, LOW, MTSI, M, MAN, MCHX, MRK, MLHR, MUR, NEE, NI, JWN, OXY, OMC, ASGN, PAYX, PETS, PFE, PPL, PG, KWR, RMBS, RNG, RCKY, SAIA, SLB, SCHW, SWN, SUM, TECH, TER, TXN, VLO, VMI, V, WMT, WMB, WSM, IHE, EWO, EWK, EWZ, EEM, EWJ, EZA, EWY, EWL, EWT, IXC, IXN, ILF, XLE, XLF, 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.

— Thomas Bulkowski