where are we a look with wyckoff

Hi all,

Atm most of the our indexes appear to be in trading ranges or close to, and I thought it might be of interest to some, if we start a new thread that follows the movements of the XJO from time to time

that is to use basically just the principles developed by Wyckoff, an expert in trading ranges

First I guess it may help to know a bit about the man, so here's a quick summary, not too much though, hope not to bore here, am typing real quick.

Wyckoff started as a stockbrokers runner at the age of 15, became a brokerage firm auditor a few years later, and at 25 opened his own brokerage firm.

In the years following 1930, Wyckoff and his associates formulated a valuable set of laws, tests, and schematics. The basic elements were charting, particularly bar charts and point and figure charts.

The Wyckoff method is a five step method of market analysis, and outlined is a quick look at them.

1. Determine the present position and probable future trend of the market. Then decide how you are going to play the game, use bar and point/figure charts to analysis the market index.

2. Select stocks in harmony with the trend. If your playing the game long, select stocks which you believe are stronger than the market. If you are unsure about an individual drop it.

3. Select stocks with cause that equals or exceeds minimum objectives. Choose stocks if going long that are under accumulation or reaccumulation.

4. Determine the stocks readiness to move. Rank stocks in order of your preference.

5. Time your commitment with a turn in the stock markets index. Put stop loss in and relax. Then follow through, until you close out the position.

Hope that wasn't too much.

..........

First up is a wide view of our XJO and marked is what was our support level dating way back to early AUG09 and then over the next few charts we move to the present action








won't bore everyone to tears first up, but just add also a couple schematics illustrating some of the key elements of our markets and also one detailing a redistribution phase, that is if this happens to evolve into one,

will at a later date help explain all the different key elements,
cheers if you lasted this long