Where’s The Test Of The Shakeout?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-31-2014 The stock market, as measured by the Wyckoff Wave, has spent most of 2014 in a trading range. This trading range has been quite interesting. It has been fairly long and somewhat boring. It has also experienced a great deal of relative strength. This is shown by the large number of higher tops and higher bottoms. What is most interesting is that on many rallies within the trading …

Springs, Shakeout’s and the Short Term Trader

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 10-24-2014 This past week, the Wyckoff Wave continued its strong response to its shakeout (#1 spring). This is marked as point E on the daily chart and point A on the weekly chart. This response has moved the Wyckoff Wave into and through its short-term down trend channel. It is now in an area where it can test the resistance line drawn from point D on the daily chart. …

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 …