On Thursday last week, we discussed in detail in Deep Practice why the market was poised to rally and where the likely termination of that rally would be.  We anticipated this rally.  In fact, there was ample evidence of buying beginning a little over two weeks ago.  We went deep into those details, including: the overall evidence of accumulation the overall condition of the … [Read more...]

I just noticed this ... I used to trade Wolfe Waves with another trader out of Montana.  I took Bill Wolfe's course and worked on this trading method diligently.  In fact, it was trading Wolfe Waves that got me deep into Wyckoff's work.  At the 5-point in a Wolfe Wave, there was often high volume that seemed to turn the market.  Being a novice in volume, I couldn't understand … [Read more...]

As we have been discussing for weeks, supply continues in the S&Ps.  Last week ended poorly, and the news media is beginning to report it (e.g., Dow falls below 12,000). The rally on Thursday to 1288.50 (labled A on the chart) showed a distinct lack of demand. The next level of support comes in at 1237.75 basis the June contract (now the front month).  You can see on the … [Read more...]

          Dear Trader, Join us at The Traders Expo Dallas, June 15-18, 2011 at the Hyatt Regency Dallas at Reunion, where you can meet face to face with renowned trading experts. Only traders with the right knowledge and tools are well positioned to take advantage of trading opportunities presented by ever-changing market conditions. This points to one thing—high-quality … [Read more...]

The research keeps piling up on the benefits of mindfulness.  A new study shows that mindfulness training produces positive effects on chronic insomnia and sleep problems - something I hear from traders more than on an occasional basis.  Due to the small number of participants, the findings were limited and must be considered preliminary, but it was nicely designed.  It … [Read more...]