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Open in new tab IMPORTANT POINTS
1. The future course of the market may be judged by its own action.
2. The action of stocks reflects the effect of the forces which dominate them.
3. Volume of stock changing hands in each transaction is important.
4. The Law of Supply and Demand governs all price changes.
a. when demand is greater than supply prices rise.
b. when supply is greater than demand prices decline.
5. The trend (up or down) is the line of least resistance.
6. Minor and major turning points and points where the price breaks through the opposition are the critical moments in all phases of the market.
7. In the market it is most important to operate with the proper principles.
8. The “Trend Letter) was published in 1911 by Richard D. Wyckoff.