How Much More To The Downside?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 01-15-2016 This past week the stock market, as measured by the Wyckoff Wave, continued to react. The media has been full of gloom and doom scenarios, mentioning that we could be entering a recession. They provide all sorts of reasons, including the low price of oil, why the market will continue to react and that we are headed for, or already in, a bear market. A few months ago, …

A Short Term Test and Bullish Long Term Objectives

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 11-22-2013 This past week the Wyckoff Wave rallied to point D on the daily vertical line chart. It then reacted, and is now testing that high. The Optimism – Pessimism Index’s short term negative divergence and the Technometer’s overbought condition indicate this test may be successful. If it is, and the answer will come next week, the Wyckoff Wave is vulnerable to finally react back towards the top of …

Does A Short Term Reaction Mean A New Rally Is Coming?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 06-07-2013 Last week the Wyckoff Wave reacted down to the support/resistance line drawn from point H. This was a top of a minor sideways movement that took place just before the Wave rallied to the 37,000 level at point J. Thursday brought an intra-day failure to the downside and a two day rally began ending the week with a strong close on Friday. The Technometer had moved into a …

A Step Back View of the Market

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 04-05-13  This week the Wyckoff Wave attempted to leave the X – Y trading range to both the upside and the downside. As of Friday’s close, both of these attempts failed. In addition, neither effort appeared to be ending action, in the form of an upthrust or a spring. Last Friday the Wyckoff Wave left the trading range to the upside. However, Monday’s market action showed a lack of …

Supply Friday – The Wyckoff Wave fell back into the Creek

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-19-12 Friday, the Wyckoff Wave had its largest down day price spread in over three months. It fell 595 points on increased volume. This was a big supply day and, among other things, eliminated the Last Point of Support scenario. It now appears that we can probably expect the Wyckoff Wave to enter into a new phase of the trading range that began back in January. Despite the long …

Onward and Upward?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 09-07-12 Last Thursday, the Wyckoff Wave took a significant step to the upside.  After a long, slow 19 day reaction, the Wave rallied strongly and is making an effort to move into new high ground. Is this an actual attempt to break out of the trading range to the upside, or will Wyckoff bulls be disappointed as we see an upthrust or continued sideways movement? While the latter is …

The Long Reaction. When Will It End And Which Way Will The Market Move?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 08-24-12 On Friday, the Wyckoff Wave was in the 18th day of its reaction from the highs at point S on the daily vertical line chart.  The Wave reacted briefly to point T and then rallied to point U.  This allowed the drawing of a short-term down trend channel. Since then, the Wyckoff Wave has stayed quite close to the channel’s supply line.  In addition, it has weakened the …

Let’s Go Long. What Does A Longer Term View Of The Market Tell Us?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 08-17-12 This week, the Wyckoff Wave rallied slightly and weakened the newly drawn short term down trend channel. This happened on Thursday and that day’s market action was not particularly impressive. Then on Friday, the Wyckoff Wave ran into supply. It now seems the Wyckoff Wave will have a difficult time continuing to rally and penetrate the resistance line at the top of the trading range and the highs …

Are We Ready to Rumble?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 07-27-12 This week the Wyckoff Wave put in an extraordinarily strong performance. After finding support at the bottom of the original trading range (line drawn from point V), the Wave rally strongly and returned to its short-term up trend channel. More importantly, it moved through both the short term resistance (line drawn from M) and the intermediate term resistance (line drawn from point A) and closed at a four-year …

Up or Down? The Bears and Bulls Weigh In On The Market

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 06-01-12 I get lots of e-mails. Since I am somewhat bullish, most are from the bears who are happily waiting for a significant decline. They cite existing market conditions and often include references to the financial instability we are seeing in both Europe and the United States. This week, I thought it might be helpful to take a look at both sides of the argument, from a Wyckoff perspective. …