Determining The Trend Of The Market By The Daily Vertical Chart – 7M

The most important thing to know about the market is?

To operate in harmony with the trend, a study of the vertical line chart of an average like the Wyckoff Wave should be the starting point of all our deductions.

A selling climax usually experiences an abnormal increase in volume and a rapid advance in price off the low?

The behavior of the market on secondary reactions are not important in the study of market action?

Once you know the trend of the general market, you then need to zero in on the Group Averages, and or your Position Sheet.

Selling climax, automatic rally, and secondary test is a normal market sequence.

An oversold condition is caused by a rapid accelerated level of buying.

Poor quality of demand, good quality of supply, and increased volume could be a buying climax.

A series of previous lows at the same general level is a level of resistance.

All stocks are expected to move in direct relationship to a market index at all times.

A technical rally follows an exhaustion of supply.

A buying climax is caused by panicky selling.

A decrease in volume is characteristic of a selling climax.

A decrease in volume is characteristic of a secondary test.