Tag Archives: outside day
The 4-day pattern formed in SPY as of the close of yesterday involves three down days and an outside day. This particular price pattern has win rate close to 70% and all of its occurrences since 2006 signaled a 2% rise. However, … Continue reading
As of the close of Friday, November 30, 2012, an inside day formed in daily SPY data. Due to yesterday’s price action the inside day pattern of last week is now “inside” a daily bar. I call this pattern an “outside day of an … Continue reading
After a rare formation of two consecutive outside days, an upside breakout followed in QQQ. The resulting outside day upside breakout pattern has been historically a short signal for profit targets in the 3% range but with a low winning bias.
These patterns are indeed extremely rare. They have formed after some other recent rare patterns. Maybe it is because this is a rare time period.
Yesterday there was an outside day breakout in SPY. The breakout was to the downside but historically this chart pattern is usually followed by a rebound to the upside.
As of the close of Wednesday, October 19, 2011, in both QQQ and SPY daily charts there is an inside day pattern formed following an ouside day pattern. Both patterns in succession show that market participants are cautious and undecided about future market direction. … Continue reading