Last week in Deep Practice one of the members made an insightful comment: “It’s truly amazing how the Wyckoff trading principles occur over and over again.” This is very true. It is why many traders are successful using this method. His comment got me thinking … ... I have to apologize for not keeping up the blog as I usually do. I would normally be discussing the highly … [Read more...]
Market Sells Off
S&Ps UpThrust The 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 … [Read more...]
Trading the S&P e-Mini
Even though the market has been showing a lot of daily price bars overlapping one another recently, there are still levels at which the market can be watched carefully for buying or selling to reveal itself. In Deep Practice this week, I highlighted the narrow green box on the daily chart as an area that the market could find support, should it chose to return to that level. … [Read more...]
Anticipating a Pullback Early Next Week
The market has been in a bullish mode since the mid-November lows. I expect that bullishness overall will continue into and perhaps past the New Year. But in any uptrend there will be pullbacks. I am anticipating a pullback early next week. In fact, it may have already started. My Routine At the end of each week - usually on Saturday afternoon when I have some quiet time … [Read more...]
Constructive Actions in the US Stock Market
Market Acts Constructively The US Stock Market as represented by the S&P e-minis had a constructive week last week. After rallying out of an oversold condition in mid-November, the market pushed up underneath the trend channel at A. It hung there for two days and then on Wednesday flushed out longs who had jumped on board as the market rose aggressively. The shakeout … [Read more...]
