Bullish Patterns

1) A close at the upper extreme of the day, 2) close above the previous 2 day highs, 3) higher volume than the previous 2 days and 4) daily range expansion.

S&P500 and NASDAQ100 for 25 Jan 2021

Other NYSE & NASDAQ for 25 Jan 2021

Scan criteria:

  • close in top 25% of daily range
  • close > previous 2 day's high
  • volume greater than 30 day average volume
  • volume > previous 2 day's volume
  • daily range > 10 day average daily range
  • daily range > previous 2 day's daily range
  • previous 2 days highs lower than a high in the 4 days prior

Bearish Patterns

1) A close at the lower extreme of the day, 2) close below the previous 2 day lows, 3) higher volume than the previous 2 days and 4) daily range expansion.

S&P500 and NASDAQ100 for 25 Jan 2021

Other NYSE & NASDAQ for 25 Jan 2021

Scan criteria:

  • close in bottom 25% of daily range
  • close < previous 2 day's low
  • volume greater than 30 day average volume
  • volume > previous 2 day's volume
  • daily range > 10 day average daily range
  • daily range > previous 2 day's daily range
  • previous 2 days lows higher than a high in the 4 days prior

Notes

Common criteria for scans above

  • 20 day average volume or last session volume over 750,000
  • last closing price > 4 USD