Divergences and Reactions

Jim OBrien Week In Review 0 Comments

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 …

Take a Rest?

Jim OBrien Week In Review 0 Comments

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 …