I just returned from Denver where I spoke on Wyckoff principles at the Traders' Library Trading Forum.  It was great to see friends from the Denver Trading Group again and meet new traders.  A terrific weekend of great trading information. Turning to the market: We are at a very interesting spot in the market's structure. Last week in this post, I disscused the fact that the … [Read more...]

The market has been volatile since the beginning of the month.  This can add difficulty to making trading decisions.  But it is also what we live for. Today's action in the S&Ps (ES)  gave us three choice trades that set up with classic Wyckoff criteria and the use of David Weis's Wave Chart.  Let's take a look: Two charts are presented in the graphic: a 9,000 Tick … [Read more...]

Yesterday, the market dipped below Monday's low, turned around and rallied strongly.  Good volume came in and the market closed near Monday's high and very close to the August 31 high.  It indicates that buyers are making a concerted effort to hold the market and not let it fall.  Only time will tell if they are successful. We should have seen downside follow-through from … [Read more...]

Early this morning, the S&Ps reached up over the August 31st high (discussed in last night's post) and failed to hold its gains.  The market had an upthrust.  Given the supply we have been talking about for the past many weeks, that wasn't surprising.  As is typical with an upthrust, we saw a trend day down today. I love days like this.  They offer many trading … [Read more...]