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TASUG Meeting – November/2003. Using its tools to spot Chart Patterns, Candle Patterns, Ratios, and Divergences. Andy Nogueira. Part I - Stockcharts Tools. Breadth Charts Market Carpet PerfCharts SharpCharts StockScans. Home Page. Candlestick Patterns Bullish / Bearish

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slide1

TASUG Meeting – November/2003

Using its tools to spot

Chart Patterns, Candle Patterns,

Ratios, and Divergences.

Andy Nogueira

part i stockcharts tools
Part I - Stockcharts Tools
  • Breadth Charts
  • Market Carpet
  • PerfCharts
  • SharpCharts
  • StockScans

Home Page

part ii using stockcharts to spot
Candlestick Patterns

Bullish / Bearish

Divergences

Positive / Negative

Chart Patterns

Reversal / Continuation

Ratios

Intermarket Analysis

Part II – Using Stockcharts to spot
breadth charts
Breadth Charts
  • Shows Market Breadth for
  • NYSE
    • Advancing / Declining
    • Highs / Lows
  • NASDAQ
    • Advancing / Declining
    • Highs / Lows
  • AMEX
    • Advancing / Declining
    • Highs / Lows

Page 1

Page 2

market carpet
Market Carpet
  • Lets you see at a glance what the entire market is doing as well as the sectors and companies within the market.
  • Available Predefined Carpets
    • S&P Sector Carpet
    • Market Summary Carpet
    • Fidelity Fund Carpet
    • Rydex Fund Carpet
    • Toronto Stock Exchange
perfcharts carpet
Perfcharts Carpet
  • Lets you compare two or more different stocks, indices, or mutual funds during a period of time.
  • Display price performance lines for up to 10 different financial datasets
  • Line Graph or Histogram (Total Return)
sharpcharts
Sharpcharts
  • Create bar charts, line charts and candlestick charts for more than 20,000 stocks, indices, and mutual funds.
  • Intraday, daily, weekly and monthly charts in a variety of sizes and color schemes
  • Create lists of annotated charts
stock scans
Stock Scans
  • Create your own scans to find stocks in the database that meet certain technical conditions and criteria
  • Predefined Scans:
    • Technical Indicators
    • Candlestick Patterns
    • P&F Alerts

Page

candlestick patterns
Candlestick Patterns
  • Bullish Patterns
    • Morning Star
    • Bullish Abandon Baby
    • Bullish Engulfing
  • Bearish Patterns
    • Evening Star
    • Dark Cloud Cover
slide20

Morning Star

  •  A downtrend is under way
  • First day is a long black day
  • Second day gaps below the 1st day's close
  • Third day is a long white day.
slide22

Bullish Abandon Baby

  • A downtrend is under way
  • First day is a black day.
  • Second day is a doji whose shadows gaps below the 1st day's close.
  • Third day is a white day with no overlapping shadows.
slide24

Bullish Engulfing

  • The color of the first day's body reflects the trend.
  • The second real body should have the opposite color of the first real body.
  • The second day's real body totally engulfs the first day's body.
slide26

Evening Star (Bearish)

  • First day is a long white day.
  • Second day gaps above the first day's close.
  • Third day is a long black day.
slide28

Dark Cloud Cover (Bearish)

  • First day is a long white day
  • Second day is black with an open above the high of the previous day
  • Second day closes within but below the midpoint of the first day’s body
divergences
Divergences

A divergence occurs when the trend of a security's price doesn't agree with the trend of an indicator.

  • Positive Divergence
    • Occurs when the indicator moves higher at the same time the stock price is declining.
  • Negative divergence
    • Occurs when the indicator moves lower as the stock price continues to rise.
chart patterns
Chart Patterns
  • Reversal Patterns
    • Head and Shoulders
    • Double Top (Bottom)
  • Continuation Patterns
    • Flag
head shoulders
Head & Shoulders
  • Consists of a peak followed by a higher peak and then a lower peak with a break below the neckline.
  • Volume Confirmation
    • First peak - High volume
    • Middle peak - Moderate volume
    • Third peak - Low volume
    • A sharp increase in volume on the break below the neckline
double top
Double Top
  • Made up of two consecutive peaks that are roughly equal, with a moderate trough in between
  • Volume contracts on second peak as a further indication of weakening demand.
  • Support must be broken in a convincing manner, and usually with an expansion of volume

Double Top

slide38

Flags (Continuation)

  • Mark a small consolidation before the previous move resumes.
  • Volume confirmation:
    • Expands to form the flagpole
    • Contracts during the flag's formation
    • Expands after the resistance breakout.
  • Usually the price target is the length of the flagpole
ratios
Ratios
  • Intermarket Analysis
    • Intermarket Technical Analysis is the study of the relationships between the four major financial markets: Stocks, Bonds, Commodities and Currencies.
    • 30 Year US Bond / S&P 500
    • US$ Dollar / Gold
slide43

Links and Suggested Reading

  • Links
  • Stockcharts.com
  • Prophet.net
  • Hotcandlestick.com
  • Equis.com
  • Leavittbrothers.com
  • Chartpatterns.com
  • Suggested Reading
  • Japanese Candlestick Charting Techniques - Steven Nison
  • Beyond Candlesticks - Steven Nison
  • Technical Analysis of Stock Trends - Robert Edwards & John Magee
  • Encyclopedia of Chart Patterns - Thomas N. Bulkowski
  • Andy Nogueira – andy_nogueira@sympatico.ca