A Creek Jump or an Upthrust?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-21-11 On Friday, the Wyckoff Wave moved through the final resistance of the trading range into new high ground. Is this the beginning of an important Jump Across the Creek or will the Wyckoff Wave upthrust the trading range and begin a move to the down side? Legitimate arguments can be made for both scenarios. The Bulls can point to an oversold Technometer and that the Wave has respected …

Timing the Market and Turning Points

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Click Here For Wyckoff Wave Chart 10-14-11 The stock market, as measured by the Wyckoff Wave turned in a most interesting week. The rally off the spring at point H was, in my opinion, difficult to analyze and in several instances, has not behaved according to expectations. It has caused difficulties for short-term traders, of which I was one, but has reinforced important lessons about how short-term traders deal with turning points in the market. …

Springs and Trend Lines

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Click Here For Wyckoff Wave Chart 10-07-11 This week the Wyckoff Wave sprung the trading range. The number two spring has brought the Wave to the supply line of the short term downtrend, with the potential for continued movement to the upside. This could be the beginning of a bull market or a bit of a disappointment as the stock market says it is not quite ready for its next move. Let’s revisit the trading …

Divergences and Reactions

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Click Here For Wyckoff Wave Chart 09-30-11 This week, the stock market, as measured by the Wyckoff Wave, put in a lower top and is reacting to test the bottom of the trading range. What happened this week and what clues have we received that may forecast future market action? Last Thursday, the Wyckoff Wave tested the bottom of the trading range at point F. It then rallied to point G and is now reacting …

When is a test not a test?

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Click Here For Wyckoff Wave Chart 09-23-11 A review of the stock market’s action, as represented by the Wyckoff Wave, gives us an opportunity to discuss tests of upthrusts. In this case, what we thought was a test, in fact was not. We did not see the true test until Tuesday of this week. To review: The Wyckoff Wave reacted strongly and experienced a selling climax at point X. The rally to point Y established …

Short, Interesting Week

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Click Here For Wyckoff Wave Chart 09-09-11 The stock market, as measured by the Wyckoff Wave, put in a short, but interesting week. The week’s action brought about a successful test of an up thrust and began a reaction that may go simply to the bottom of the trading range. There are also two other scenarios that will be discussed later in this letter. On Tuesday, September 6th, the Wyckoff Wave experienced an intraday failure …

Test of an Upthrust?

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Click Here For Wyckoff Wave Chart 09-02-11 The stock market, as measured by the Wyckoff Wave, has up thrusted the new trading range and is reacting. We can expect to see the response to the upthrust, in the form of a test, possibly as soon as next week. Let’s look at the various scenarios that we could encounter as summer turns to fall. This week, the Wyckoff Wave rallied and penetrated the resistance at point …

Starting a New Phase?

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Click Here For Wyckoff Wave Chart 08-26-11 The stock market, as represented by the Wyckoff Wave, appears to be entering a new phase. This week’s market action has appeared to confirm a Selling Climax and weakened the latest short term down trend channel. While those who definitively prejudge the future action and trend of the stock market are often disappointed, if Wyckoff students use their knowledge and the Wyckoff Tools, they often have a leg …

Fall thru the Ice?

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Click Here For Wyckoff Wave Chart 08-19-11 When my last post appeared, the Wyckoff Wave had reached a high at point G and was in an oversold position relative to the long-term up trend channel. It was also in an oversold condition relative to the Technometer. The Wave reacted to point H and then rallied weakly to point I. In addition, the O– P Index moved into new high ground creating a negative divergence. We …

Does News Matter?

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Click Here For Wyckoff Wave Chart 08-19-11 The stock market, as represented by the Wyckoff Wave, experienced one of its most volatile two weeks since the last bear market. While Wyckoff traders are taught to basically ignore news, the fear investors saw in the United States debt ceiling crisis and European banking issues certainly changed the speed in volatility of the United States stock markets. As Mr. Robert Evans often said; “News does not change …

Take a Rest?

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Click Here For Wyckoff Wave Chart 06-27-11 Our last post ended with the Wyckoff Wave at point Y. The Wave was in an overbought position relative to the long-term uptrend. It was also overbought on the Technometer. However, things weren’t all that bleak. The Optimism – Pessimism index was leading the Wave. The Force index was in harmony. There was a reduction in spread and volume as the Wyckoff Wave rallied to point Y. A …

Wyckoff Wave Markup

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Click Here For Wyckoff Wave Chart 06-08-11 Let’s pick up our study of the Wyckoff Wave at point M. Click here to view and download the related chart – Wyckoff Wave-markeup phase. Here we have a wonderful Last Point of Support. Even better, it lasted about five days, giving the Wyckoff student plenty of time to find and take positions in stocks that were ready to move. And move they did. For a little over …