As of 11/27/2023
Indus: 35,333 -56.68 -0.2%
Trans: 14,904 -190.22 -1.3%
Utils: 866 -0.47 -0.1%
Nasdaq: 14,241 -9.83 -0.1%
S&P 500: 4,550 -8.91 -0.2%
|
YTD
+6.6%
+11.3%
-10.5%
+36.1%
+18.5%
|
 35,450 or 34,050 by 12/01/202315,400 or 14,150 by 12/01/2023900 or 825 by 12/01/202314,450 or 13,550 by 12/01/20234,600 or 4,350 by 12/01/2023 |
As of 11/27/2023
Indus: 35,333 -56.68 -0.2%
Trans: 14,904 -190.22 -1.3%
Utils: 866 -0.47 -0.1%
Nasdaq: 14,241 -9.83 -0.1%
S&P 500: 4,550 -8.91 -0.2%
|
YTD
+6.6%
+11.3%
-10.5%
+36.1%
+18.5%
| |
|
35,450 or 34,050 by 12/01/202315,400 or 14,150 by 12/01/2023900 or 825 by 12/01/202314,450 or 13,550 by 12/01/20234,600 or 4,350 by 12/01/2023 | ||
For more information on this pattern, read
Encyclopedia of Chart Patterns Second Edition
If you click on the above link and then buy the book (or anything) while at Amazon.com, the referral will help support this site. Thanks.
$ $ $
Periodically, retailers announce same-store sales numbers (sometimes called 'comparable store sales'). Usually, these are sales results for stores open at least a year. Bad same-store sales make an event pattern on which you can trade. Discovered by Thomas Bulkowski in the fall of 2003.
Bad Same Store Sales
|
The above numbers are based on hundreds of perfect trades. See the glossary for definitions.
| Characteristic | Discussion |
| Price trend | Usually found in a price downtrend. |
| Announcement | The company announces monthly or quarterly same-store sales numbers. |
| Wide swing | Look for announcements in which price makes a large intraday swing, 2 or 3 times the average daily price swing over the last month. |
| Downward breakout | A breakout occurs when price closes below the lowest low posted on the announcement day. |
| Volume | Above the 30-day average, usually. |
| Market | Works best in a bear market. |
| Trading Tactic | Explanation |  The Measure Rule
|
| Measure rule | Reference The Measure Rule figure to the right. On the announcement day, subtract the intraday low (point B) from the high (A) and multiply it by the above “percentage meeting price target.” Subtract the result from the intraday low (B) to get a price target (C). | |
| Confirmation | Wait for price to confirm the pattern because traders may push price up instead. A downward breakout (confirmation) happens when price closes below the low posted on the announcement day. | |
| Sell | Sell a long holding or short the stock after confirmation. | |
| Repetition | Another bad same-store sales announcement often follows the first one. | |
| Yearly middle | Patterns in the middle third of the yearly price range show the best performance. | |
| Bottom | Price may bottom quickly. Over 60% bottom in less than 2 weeks in a bull market, 57% in a bear market. |
The above figure shows an example of a same-store sales event pattern. Price leaves a consolidation region at A and shoots up to B. Then the stock begins a long slide downward. Along the way, the same-store sales number becomes public and the results send the stock down. Price attempts a pullback in February, but then price resumes the downward move.
-- Thomas Bulkowski
Support this site! Clicking any of the books (below) takes you to
Amazon.com If you buy ANYTHING while there, they pay for the referral.
Legal notice for paid links: "As an Amazon Associate I earn from qualifying purchases."
| My novels: |
 
 
 
|
| My stock market books: |
 
|
In God we trust. All others we monitor. -- NSA
on 