November 18, 2011
Uncategorized
By Geoff Bysshe
The market had a very decisively down day today. The SPY broke down out of a multi-week wedge on good volume (see chart below). But not every stock got crushed. In fact some stocks held up well and could be telling you that they are ready to rally if the market improves.
One way to find stocks that are consolidating for the next good day trading or swing trading opportunity is to scan for Inside Days. This pattern is simply when today’s range is within yesterday’s range. This pattern can be used as a reversal pattern or a consolidation pattern.
It is simple to scan for inside days with HotScans. You only need to change two settings! I’ve circled the settings changes on the screen shot image below. You’ll also see the top 25 stocks that qualify for these scan criteria.
