Breaking Through Resistance or Backing Up To The Creek?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 03-07-2014 On Monday, the Wyckoff Wave reacted and slightly penetrated the support at the bottom of the short term trading range. This is marked as point V on the attached chart. This was a #3 Spring. #3 Springs do not need to be tested. On Tuesday the Wyckoff Wave rallied off the spring and broke through the resistance at the top of the trading range. This was a Sign …

News and the Stock Market

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 11-11-11 This Tuesday, the stock market opened higher, and then reacted. In the afternoon, it rallied strongly and closed near the day’s high. The “expert news analysts” attributed the rally to the news that Italian Prime Minister Silvio Berlusconi would be resigning and that this was positive news for the pending Italian financial crisis. The following morning, the market had a huge gap opening to the down side. It …

Absorption at the top of a Trading Range

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-28-11 This week the stock market, as measured by the Wyckoff Wave, jumped its resistance and moved into new high ground, relative to the trading range. This was a most interesting occurrence that, in hindsight, looks fairly reasonable, but confused many Wyckoff students, including myself, as it developed. I don’t like to “miss one”, but if that happens it is extremely important to review the action and be better …