When is a test not a test?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 09-23-11 A review of the stock market’s action, as represented by the Wyckoff Wave, gives us an opportunity to discuss tests of upthrusts. In this case, what we thought was a test, in fact was not. We did not see the true test until Tuesday of this week. To review: The Wyckoff Wave reacted strongly and experienced a selling climax at point X. The rally to point Y established …

Short, Interesting Week

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 09-09-11 The stock market, as measured by the Wyckoff Wave, put in a short, but interesting week. The week’s action brought about a successful test of an up thrust and began a reaction that may go simply to the bottom of the trading range. There are also two other scenarios that will be discussed later in this letter. On Tuesday, September 6th, the Wyckoff Wave experienced an intraday failure …

Test of an Upthrust?

Jim OBrien Week In Review 0 Comments

Click Here For Wyckoff Wave Chart 09-02-11 The stock market, as measured by the Wyckoff Wave, has up thrusted the new trading range and is reacting. We can expect to see the response to the upthrust, in the form of a test, possibly as soon as next week. Let’s look at the various scenarios that we could encounter as summer turns to fall. This week, the Wyckoff Wave rallied and penetrated the resistance at point …