I just finished the slides for today's webinar on Tops & Bottoms. There are 60 slides covering how to read a top and how to read a bottom. I think you will like them. We will have a thorough discussion on market tops and bottoms, including the all important structural characteristics, how markets behave in these locations, entries, use of the Weis Wave, bar-by-bar reading … [Read more...]
Follow-Up in the S&Ps
Yesterday, resistance was identified in the area of 1965 - 1970. Today, the market stopped it's upward movement at 1968.25. Today--marked A on the chart--was an up day. Although it was up, it also traded inside the range of the previous day. We had good volume, but the market remained largely range-bound. We could be seeing the market accumulating around support as we have … [Read more...]
Coordinating Time Frames
One of the key skills in trading the markets by its own action is the skill of understanding structure. Someone recently told me that they look solely at price and volume; they consider structure irrelevant. I can't understand that attitude. To my way of trading, using structure is essential. A good example of how structure plays a significant role in trading occurred on … [Read more...]
Free Webinar Tomorrow
We will be holding a free webinar tomorrow (Wednesday). It will run about 40-45 minutes. Just us and see how Wyckoff principles unfolded last week in several markets, including the S&P e-minis, Crude Oil, and the Euro Currency. We will look carefully at how to apply Wyckoff's reading of supply and demand in each of these highly active markets. You will see some great … [Read more...]
Time to be wary
Although the S&Ps made new all-time highs last week, the Dow did not. Wyckoff talked extensively about comparative strength and comparative weakness. When related markets fail to make new highs together, you need to sit up and take notice. We saw this in January when the Nasdaq made new highs, but the S&Ps and Dow did not (see A on the chart). This comparative … [Read more...]
