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Are We Backing Up To The Creek?
Click Here For Wyckoff Wave Chart 02-19-2016 This past Wednesday the Wyckoff Wave rallied through the top of the mini trading range to point N, on the daily chart. Friday saw the Wyckoff Wave experience an intra-day failure to the downside. The morning saw a reaction back to the top of the trading range. The afternoon saw a rally and a strong close. While Friday’s price spread was wider than that on Thursday, the volume …
Backing up to the Creek?
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An Interesting Black Friday
Click Here For Wyckoff Wave Chart 11-28-2014 To the casual investor, the Friday after Thanksgiving was a non-eventful shortened trading day. However, the Wyckoff Wave gave us a very different picture. The S&P 500 reacted by a modest 0.25%. The Dow Jones Industrials actually rallied by .09%. Conversely, the Wyckoff Wave lost 600 points or 1.38%. The Wyckoff Wave is comprised of 12 stocks. Each is a leader in its industry group. Individually, they are …
Breaking Through Resistance or Backing Up To The Creek?
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 …
Ending Action
Click Here For Wyckoff Wave Chart 02-28-2014 The stock market spends most of its time in situations that are not always conducive to taking new positions. Trading ranges are one example of this phenomena. Wyckoff students know that one important function of the trading range is to build a cause. This will result in effect as the symbol either rallies or reacts. Therefore, when market action signals the end of the trading range, it is …
Follow The Bouncing Bull
Click Here For Wyckoff Wave Chart 02-07-2014 This past week the Wyckoff Wave continued its reaction from point S on the attached weekly vertical line chart. Before rallying, it slightly penetrated the resistance line at the top of the trading range and tested the support line of its long-term up trend channel. The trading range is defined by a resistance line drawn from point K and the corresponding support line drawn from point L. Using …
Backing Up To The Creek
Click Here For Wyckoff Wave Chart 04-26-13 This past week, the Wyckoff Wave rallied on both Monday and Tuesday. It then moved sideways in a small trading range for the remainder of the week. While this seems fairly uneventful, we are seeing a change in character that may provide some clues as to the market’s further direction. These clues are found in how the Wyckoff Wave has penetrated resistance (Jumped the Creek) since the intermediate-term …
Market Discipline. Are We Falling Back Into The Creek?
Click Here For Wyckoff Wave Chart 10-12-12 Back in September, the stock market, as measured by the Wyckoff Wave, jumped the creek. It penetrated the July highs at point S on excellent spread and volume. This followed a long slow reaction to a Last Point of Support at point W. It then seems reasonable to expect the Wyckoff Wave to begin to react back to that old resistance, now support, line drawn from point S. …
Are We Backing Up To The Creek?
Click Here For Wyckoff Wave Chart 09-21-12 Over 50 years ago, the incomparable Mr. Robert Evans gave us a wonderful analogy about how a stock behaves when it penetrates the resistance at the top of a trading range. He called it a “A Jump Across The Creek” and it has become an extremely important part of our Wyckoff tradition. The story goes like this. A little boy is walking across a field when he comes …
Are We Ready To Rally?
Click Here For Wyckoff Wave Chart 03-23-12 On the week ending March 16, 2012, the Wyckoff Wave broke through the resistance of the short term trading range or area of re-accumulation. It reached a new high at point A and then began to react back towards the top of the trading range. As Wyckoff students know, this is a reaction back to the creek and, if successful, will become a major Last Point of Support …
Did the Wyckoff Wave back up to the Creek?
Click Here For Wyckoff Wave Chart 11-05-11 In last week’s Market Letter, I suggested that the Wyckoff Wave would be backing up to the Creek. A successful back up would be an important last point of support (LPS) and the beginning of the markup phase. This Tuesday, November 1st, the Wave reacted to point L. It then has rallied in a fairly unimpressive manner. Was the reaction to point L really a last point of …