CBOE Forms Deep Base in Advancing Stage 2; Bull Flag Hints at Upside

Posted on by Eben@CANSLIM Research
CBOE daily stock chart with 10, 20, 50, 150 and 200-day moving averages, volume and RS line versus SPY — CANSLIM Research
Eben@CANSLIM Research's avatarEben@CANSLIM Research

CBOE is holding above a rising 30-week moving average, confirming an intact Stage 2 uptrend, yet the current 13-week base is a deep 36.7% correction, which historically carries an elevated failure rate. The market is focused on whether this deep consolidation can resolve higher, with a recent bull flag and a 4.5% pullback from a 26.6% run suggesting constructive price action. Overall sentiment is constructive but cautious, as the stock awaits a confirmed breakout above the 365.93 pivot.

Technical Analysis

As of 2026-08-14 · Close $296.14

Stage Analysis

Stage 2 (Advancing) — Price holding above a rising 30-week MA — uptrend intact (30-week MA 6-week slope: 1.99%)

Detected Patterns — What the Market Is Watching

  • Deep Base (>33% — elevated failure rate) — depth 36.7%, length 13 weeks, pivot $365.93. Base formed from 2026-05-13 (left-side high) to 2026-08-14, with the low of $231.51 set on 2026-06-29
  • Bull Flag after a 26.6% run, currently 4.5% off the flag high

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