A Possible OOPS…

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Click Here For Wyckoff Wave Chart 11-20-2015 Stock Mark Institute’s iconic Robert Evans had the wonderful ability to simplify market actions through his delightful stories. One of these was the Oops story. Have you ever been headed in a certain direction and then, all of a sudden, you realized that it was the wrong way? When that happens, one often says “oops, I think I’ll do something else”. That simple little story can be used …

Handling The Curve Ball

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Click Here For Wyckoff Wave Chart 10-23-2015 During the first part of last week, the Wyckoff Wave continued to give off indications that it was prepared to react. Apparently, that wasn’t the case. On Thursday, instead of reacting, the Wyckoff Wave put in its most significant up day since early October. It rallied strongly past point V and returned to its intermediate-term downtrend channel. This curveball sent aggressive short-term bears scurrying to cover their shorts. …

Where Do We Go From Here? – A Longer Term View

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Click Here For Wyckoff Wave Chart 09-11-2015 Last week’s post discussed a possible Secondary Test of the Selling Climax at point Q on the daily chart. The Wyckoff Wave is still working that out, but this past week’s market action continues to suggest the Secondary Test will be successful. A Secondary Test would signify the beginning of a sideways movement and an important trading range that would lead to the next significant market move. As …

Bullish Signals From The Wyckoff Tools

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Click Here For Wyckoff Wave Chart 06-26-2015 Last week, the Wyckoff Wave appeared ready to react and, once again, test the #3 spring at point G. Writing in last week’s post, I suggested that the test would be completed by now and, in all probability, it would have been successful. Unfortunately, the stock market moves at its own pace and as of Friday’s close, the Wyckoff Wave was in a precarious position. It was hovering …

A Short Term Reaction Is On The Horizon. What About The Big One?

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Click Here For Wyckoff Wave Chart 03-13-2015 This past week, as expected, the Wyckoff Wave rallied off the early March high at point R. In Wyckoff speak point R was a poor quality test of the February high at point P. Poor quality tests usually need to be retested. On Thursday and Friday, the Wyckoff Wave tested the support line of its short-term uptrend channel (drawn in blue) and appears to be rallying for the …

Apexes, Trend Lines & The Optimism – Pessimism Index

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Click Here For Wyckoff Wave Chart 01-23-2015 This past week the Wyckoff Wave tested the support line of the apex formation (drawn in purple) and rallied to the formations supply line. There it moved into a slightly overbought position, before its Friday afternoon reaction back into the apex. When we draw support and resistance lines to identify the tops and bottoms of the trading range, or trend channels, they are normally identified as support lines …

Wyckoff Discipline And Looking For Supply

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-17-2014 On Friday the stock market, as measured by the Wyckoff Wave, completed a wild and wacky week. Despite all the negativity surrounding the week’s market action, the Wyckoff Wave actually closed 229 points higher than the previous Friday. As Friday’s closing price was 40,098, the price differential was not particularly large, but it was higher. This completed a rather strong reaction that started at point B. But it …