I have been mentioning the 1400 level in the S&P e-minis for a few days. You can read the posts where I discussed that level here. I've been looking for a pullback to the 1400 level for a buy opportunity. That came this morning. Here is the 3,000 Tick Chart of the S&P e-minis with the Weis Wave. The 1400 level is highlighted. Note how we became oversold in the … [Read more...]
The Value of a Wyckoff Perspective
There is no doubt in my mind that the Wyckoff perspective offers the modern trader a very strong technical edge. Today - like virtually all trading days - provides excellent examples of Wyckoff principles. Keep in mind that the Wyckoff method is all about reading the market by its own actions. Surely it is not infallible, but the astute Wyckoff student can read much in price … [Read more...]
US Stock Market Rallies From An Oversold Condition
As we always do on Thursday evenings in Deep Practice, we looked at the S&P e-mini market to see what its likely next move will be. Traders in the Deep Practice group noted that the S&Ps were making a new low after a lower high had been put in. The immediate trend was therefore down. They also noted that the market was very oversold. We can tell this in a number of … [Read more...]
Back from Asia to Trade Springs!
I'm back from South East Asia and Australia - what a great trip! We had pretty special live events in Singapore, Kuala Lumpur, Malaysia, and Sidney. It was one of the very best times I've had in my trading career. Although I am glad to be home, I really can't wait to go back and reconnect with all the terrific traders I met. One of the themes I focused on in the teaching … [Read more...]
Springs on the Anticpated Up Day
In last night's post (see that post here), I indicated a further rally was likely today. And, we did get that rally. Not a rip roaring rally, but it is the holiday period, after all. Many traders leave early for the holidays and so the volume and activity is typically low over the days leading into Christmas as well as the week between Christmas and New … [Read more...]
