Finding A Short Term Entry Point

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 11-15-2013 This past week the Wyckoff Wave continued to advance. It moved through the supply line of the short term up trend channel and is testing the support line of the old intermediate up trend channel. This week’s market action mirrored previous weeks as the Wyckoff Wave has been unable to establish a consistent behavior pattern. Demand that has been withdrawn, suddenly reappears. When supply comes into the market, …

Stepping Back And Looking The Market

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 11-08-2013 This week, the Wyckoff Wave gained 255 points or .66%. For the last 9 trading days it has been testing the supply line of the short term up trend channel. Until Thursday, we had seen relatively narrow spread and relatively reduced volume. This suggested a lack of demand and indicated the Wyckoff Wave would react at least back to the top of the trading range. That would be …

Did The Wyckoff Wave Jump The Creek?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 11-01-2013 This week the Wyckoff Wave pushed through the point U – A resistance line at the top of the trading range, shown on the daily chart. While this must be considered a “jump across the Creek”, it was not done so in the traditional manner. A jump across the Creek normally consists of wide price spread and noticeably increased volume. While Monday’s price spread was wider, the volume …

Up or Down? A Detailed Look at the Market

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-25-2013 This week the Wyckoff Wave penetrated the old resistance line drawn from point J. It then quickly ran into resistance at the top of the trading range (line drawn from point U through point A). This week’s market action was not particularly impressive and came in a time when the Wyckoff Wave needed to “go and go now” if it was going to move into new high ground. …

Taking Positions In A Trading Range

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-18-2013 This past week the stock market, as measured by the Wyckoff Wave, made little upside progress as it ran into an important resistance line drawn from point J on the attached chart. The price spread and volume suggests we are encountering supply and yesterday, there was the beginning of what could become an up thrust on the intra-day chart. In addition, the Technometer has moved into a slightly …

You Gotta Have Ending Action

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-11-2013 The government shutdown and especially the raising of the debt ceiling has the stock market on pins and needles. I would suspect that before things settle down we will see a fair amount of volatility in the market. However, this will probably impact short-term traders more than intermediate and long-term investors. Since late May the stock market, as measured by the Wyckoff Wave, and other important indexes, has …

A Longer Term View of the Market

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-04-2013 This week, while the Wyckoff Wave did see some support at the halfway point of the rally from point Z to point A, on the daily chart, it finally moved through the support on its way to perhaps test point Z at the bottom of the trading range. While Friday’s rally moved the Wyckoff Wave above the halfway point, it was of poor quality. This would suggest the …

The Stock Market and The News

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 09-27-2013 It would appear, that this week, a possible government shutdown is going to have a considerable impact on the stock market, one way or the other. Democrats and Republicans continue to make the people’s business less important than their never-ending battle with each other. The threat of a government shutdown will have a significant impact on our country, and for traders and investors, will move the stock market …

Was This Week A Jump Across the Creek or an Upthrust?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 09-20-2013 This week, the Wyckoff Wave had a very interesting three days. After moving towards the top of the trading range in a rather unimpressive fashion, Wednesday’s market action changed everything. Suddenly, the Wyckoff Wave rallied strongly and moved through the resistance (Creek) at the top of the trading range. It did so on wide spread and noticeably increased volume. These are the symbols of a classic “Jump Across …

Positions: To Take Or Not To Take? That Is The Question.

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 09-13-2013 This past week the Wyckoff Wave gained almost 1100 points or 3% of its value. It rallied back into and through the short-term down trend channel.  It is now in an overbought position relative to that channel. Despite that move it would have been extremely difficult or actually impossible for Wyckoff students to take any short-term long positions. Taking a position to the upside necessitates that certain criteria …

Back at Last Week’s Important Support Area. Can the Reverse Use of Trend Lines Give Us Some Answers?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 09-06-2013 On Friday, the Wyckoff Wave ended the week in pretty much the same position it was in a week ago. While slightly higher, it appears ready to, once again, test the lows at point Q and the support/resistance area (Creek) drawn from point B on the daily chart. This week’s discussion will focus on the reverse use of trend lines. While they were briefly mentioned in last week’s …

The Wyckoff Wave is at an important Support Area. Where Do We Go From Here?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 08-30-2013 This week, the Wyckoff Wave has reacted and is testing a very important support area. This support area was first established back in April, as the Wyckoff Wave moved sideways from point B. The Wyckoff Wave then penetrated the resistance line drawn from point D (the Creek) and rallied to point J. After moving sideways for several months, that resistance line has now become a support area. More …