group-29
  • 40% Spring Sale
  • Membership Plan
  • Courses
  • Training
  • Coaching
  • Dr. Gary
  • Blog
  • Book
  • Press
  • Login
  • 0 items
  • 40% Spring Sale
  • Membership Plan
  • Courses
  • Training
  • Coaching
  • Dr. Gary
  • Blog
  • Book
  • Press
  • My account
  • Login
  • 0 items
You are here: Home / Uncategorized / Market Sells Off

Market Sells Off

May 1, 2013 by DrGary Leave a Comment

Share
Share on Facebook
Tweet
Tweet this

 

S&Ps UpThrust

5-1-2013 ES DailyThe US Stock Market as represented by the S&P e-Mini futures, had a trend day down today.   We could see evidence of mounting supply over the past few weeks, and the most recent rally to last month’s high was on receding volume.  We had an UpThrust today.  Now, the question is: will this take us down?

We did have some increase in volume compared to last week’s rally days, but it wasn’t heavy.

The market can work its way into an absorption picture here by holding its gains and not reacting much lower.  The key level will be a penetration of and close below 1570.  If this occurs on good volume, then odds will favor a larger reaction.

Crude Oil

5-1-2013 Crude DailyCrude had a good sell off today, as well.  Oil’s selling occurred on strong downside volume (compare this with the S&Ps).  We could see the weakness mount in CL over the last two days.  The rally on Friday (A) took the market to new highs, but the volume was light. Yesterday (B), volume picked up but no further upside progress was made.  Selling was capping the market.

Chart Reading Challenge Free Webinar

On May 21, I’ll be doing a free webinar on chart reading via price bars and volume.  This one will be fun.  We will send you a series of charts before the webinar for you to analyze.  We will decide whether to buy, sell, or stand aside based on the chart action.  It is a way to test your ability of reading the chart.  In the webinar, I will go into each chart in detail highlighting the supply or demand and the logic for buying, selling or being patient.  We will cover currencies, the S&Ps, a stock, and a commodity or two, and we will look at varying time frames from monthly all the way down to intraday tick charts — something for everyone and everyone will learn something of value.

More details and registration here: Chart Reading Challenge Free Webinar

 

Share
Share on Facebook
Tweet
Tweet this
Tweet
Share
Pin
Share
0 Shares

Filed Under: Uncategorized Tagged With: market analysis, Wyckoff method, wyckoff trading, Wyckoff Upthrust

custom message for non-logged in members here

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Privacy, Disclaimer & Policies

Peak Psychology Inc and its website, TradingPsychologyEdge.com is an educational company. It has been providing customers from around the world training classes and products on trader mental skills, trader performance, and technical chart reading.

Trading Stocks, Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all traders and investors. Past Performance is not indicative of future results.

The testimonials are from selected customers. Their experiences may not be typical of what you can expect to achieve, As results may vary. Claims contained within testimonials have not been verified. Customers were not paid or compensated in any way for their statements.

dmca

Recent Posts

  • Dr. Gary’s Market Insight June 17-21 2024
  • TradeMindfully.com Offers Classes on David Weis’s Trades About to Happen
  • Join Dr. Gary’s Free Webinar on How to Develop Yourself as a Mastery Trader
  • Let TradeMindfully Be Your Support System
  • Dr. Gary’s New Website Is Live

Search

  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • YouTube
Back to the top
group-29

Sign up to get the Recorded Free Webinar, New Course Releases and more…

Fields marked with an * are required
  • About
    • Dr. Gary
    • Book
    • Press
  • Courses
    • Chart Reading
    • Trade Setup & Indicators
    • Trading Psychology
    • Specialty
    • Trading Procedure & Technique
  • Offerings
    • Coaching
    • Membership
    • Training
  • Help
    • Dr.Gary’s Blog
    • FAQ
    • Free Content Library
    • Contact Us
𝕏

Coppyright © 2023 Peak Psychology Inc. All Right Reserved | Term of Service | Privacy-Policy

Any and all information contained on this website is provided for educational purposes only and should not in any way to be construed as investment advice.

×
Tweet
Share
Pin
Share
0 Shares
  • 40% Spring Sale
  • Membership Plan
  • Courses
  • Training
  • Coaching
  • Dr. Gary
  • Blog
  • Book
  • Press
  • Login
  • 0 items
×
  • 40% Spring Sale
  • Membership Plan
  • Courses
  • Training
  • Coaching
  • Dr. Gary
  • Blog
  • Book
  • Press
  • My account
  • Login
  • 0 items