The market was sloppy yesterday morning, and then traded lower in the latter part of the morning through the noon hour. The night before in the overnight session, the market fell sharply to make a new low. Moves like this are usually tested. And this occurred yesterday. The test set up a picture-perfect Wyckoff Spring. This is one of my favorite long-side setups where the … [Read more...]
Sloppy Trading Morning
It has been a sloppy, narrow range morning in the S&Ps. After the high volatility of the past week, it can be hard to step on the brakes. I put on a trade this morning and it quickly showed a profit of 4 points on good range and volume. I thought it had more legs, so I brought my stop to break-even and played for a higher target. It reversed and stopped me out -- … [Read more...]
Wyckoff Spring Takes Us To New Highs
Yesterday, the market made new 20-day highs on good intraday trading. Twenty minutes after the open today, the market dipped and tested yesterday afternoon's low. Obvious support points like this are things I look for. The market likes to trade at these obvious points. Since the market slowly sold off yesterday afternoon, the market had to go an test that area to determine … [Read more...]
Wyckoff Stands the Test of Time
Wyckoff certainly stands the test of time across all time frames. Here is an intraday chart that shows the following: Accumulation, or technically, re-accumulation, since we remain in a strong uptrend A terminal shake-out at the end of the accumulation phase A minor sign of strength as the market jumps across the minor creek Major sign of strength as the market jumps the … [Read more...]
