A Bull Flag Pattern Analysis of the New York Stock Exchange Composite Index

Abstract:- We match a template depicting a “bull flag ” 60-day price behavior to closing prices of the New York Stock Exchange Composite Index to detect buying opportunities at a 5 trading day horizon. The results of the experiment indicate that the technique is capable of returning results which are superior to those attained by random choice and constitute evidence that the stock markets are not efficient. Key-Words:- Stock market forecasting, pattern recognition, heuristics, financial decision support, efficien