Last week, the S&P futures (ES) had another poor close after once again being unable to rally away from the 1338 danger point.  I discussed other indications of weakness last week in my post on weekly conditions (click here for that post).  And, the danger is that if this market is unable to rally early in the week and it falls lower, we will see a likely upthrust on the … [Read more...]

I did a webinar for one of the trading forums the other day and some of the comentary that followed questioned why the classic trading methods (developed nearly 100 years ago) such as Wyckoff still worked.  Here is my response: I think classic trading methods like Wyckoff still work because they are based on a very deep understanding of how we as human beings behave in the … [Read more...]

All markets had an inside day yesterday.  In the S&Ps, volume was light.  Inside days often lead to trending conditions the next day.  Watch the early morning volume and breadth for clues.  We will need to see  … [Read more...]

If you want to know how top traders learn to read and trade the market, come join us for a free webinar on Deep Practice with Dr. Gary. The free webinar will introduce you to Deep Practice – a unique program in the trading industry designed to one thing and one thing only: develop and hone your knowledge, skills, and abilities in chart reading and trade execution using the … [Read more...]

Bulls need to excercise caution here.  We can see the potionial for an UpThrust on the weekly chart of the ES.  If the market is unable to rally away from the danger point this week and instead falls further and closes lower, we will enter a trading range punctuated by the early May high to the mid-March low.  I suppose we are due for a reaction. Adding to the potential for a … [Read more...]