Tag Archives: Price Action Lab scan

Price Action Lab Alert for Thursday, May 3, 2012

Posted on May 3, 2012 by Michael Harris

This alert is about a signal generated by a scan of all Dow-30 stocks.

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Price Action Lab Alert for Monday, March 26, 2012

Posted on March 25, 2012 by Michael Harris

This alert is about signals in DJ30 stocks.

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Can We Know if the Market Will Rise or Fall on a Given Day one Day in Advance?

Posted on March 15, 2012 by Michael Harris

Long term investors and trend followers do not care to know if the market will rise or fall on a given day, one day in advance. A lot of traders do, including intraday, short-term, position, swing and even some option traders. … Continue reading →

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A Rare Island Cluster Pattern in SPY

Posted on March 9, 2012 by Michael Harris

Last Monday I reported the formation of an  inside day downside breakout pattern in SPY and I showed how that was a bullish signal based on price action analysis. Despite the drop that followed, a long position at the open of last Tuesday has generated a profit of … Continue reading →

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Outside Day Upside Breakout in QQQ

Posted on February 29, 2012 by Michael Harris

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.

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Stock Scanning Using the p-Indicator

Posted on February 26, 2012 by Michael Harris

The p-Indicator allows a quantitative approach to scanning stocks for short-term high probability setups. Here I provide an example of how this particular indicator can be used to scan the DOW-30 stocks on a daily basis. 

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A Very Rare Pattern in SPY

Posted on February 8, 2012 by Michael Harris

The last four trading days have resulted in a very rare pattern in SPY. This pattern is not rare only in the history of this ETF but it is rare across the board. It consists of a gap followed by an inside day and … Continue reading →

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Pattern of a Gap Followed by an Inside Day in SPY Has a Negative Directional Bias

Posted on February 7, 2012 by Michael Harris

The latest 3-bar pattern in SPY involves a gap followed by an inside day and it has a negative directional bias. Specifically, this pattern has formed 32 times since the launch of SPY and has win rate 62.50% and profit factor 1.73 for short positions with … Continue reading →

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Short-term Price Pattern Analysis for SPY

Posted on January 25, 2012 by Michael Harris

Price Action Lab was used in scan mode to identify high probability setups in SPY as of the close of Tuesday, January 24, 2012 for 2% profit target and stop-loss. Then, the same program mode was used to identify all … Continue reading →

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Three Lower-Highs With an Inside Day in SPY and the Subjectivity of Chart Patterns

Posted on November 11, 2011 by Michael Harris

As of the close of Thursday, November 10, 2011, a pattern of 3 lower-highs  with an inside day was formed in SPY. Although some technical analysts view this kind of pattern as a bearish signal, analysis shows that the historical edge  towards … Continue reading →

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