Gary_Fullett joined. Gary_Fullett good evening rhonda GE Gary Gary_Fullett did u all get charts' Mike_Gallager yes Gary_Fullett some good charts for tonight skylar joined. Gary_Fullett tommight is the monthly and quuarterly cxharts get apinteds rhonda painted Gary_Fullett painted is right Gary_Fullett frickeern key board Gary_Fullett okay Gary_Fullett any questions rhonda lol skylar lol, Hi all:) jd left. rhonda Hi skylar Gary_Fullett there is a nice s and p chart on the daily s and p i want to discuss Gary_Fullett beut before that skylar hi Rhonda Mr_Steve Hi Skylar Gary_Fullett any questiosn or comments skylar hi mr steve skylar like your chart channel lines Gary :) Gary_Fullett these channels are a must for wyckoff students Gary_Fullett the abilty to draw thee charts Gary_Fullett and line sis key Art joined. Gary_Fullett the channle is important Gary_Fullett the trnnd line snot a simoortant by themselves Gary_Fullett but when u draw the channel very important Gary_Fullett they show trend too Mr_Steve Is the S&P Charts you want to discuss are they in your tonight charts? Gary_Fullett yes Gary_Fullett they went out at like 3 pm cst ScottB joined. Gary_Fullett okay Gary_Fullett first what is trend? Mr_Steve Got em, thanks Gary_Fullett great LarryG trend is up on daily Gary_Fullett 1 min please Mr_Steve are we on chart 1? rhonda yes DaveM last hr not good anyway gary Mr_Steve ty Gary_Fullett sorry back Gary_Fullett s and p DaveM never mind 3 cst ok... Gary_Fullett so what is trend Gary_Fullett okay where did it turn up? Gary_Fullett we can se ehighe rlow and highe rhighs' what do u notic eoin volume? LarryG think on bar with "750" Mr_Steve lower? LarryG made higher low, higher high DaveM 750 close bar DaveM broke the downward supply line also Gary_Fullett okay Gary_Fullett but teh volume Gary_Fullett has not been high on ths move Gary_Fullett so would u say this is dmand? DaveM right skylar no,...demand not strong LarryG seemded like it in the beg'g bars, but kind of fizzled DaveM who said demand is here? DaveM just the trend was up Gary_Fullett well Gary_Fullett just because u rlaly Gary_Fullett doesn tthere have to be an conviction? Gary_Fullett if on light volume Gary_Fullett u have no agressive buyers rhonda short covering Gary_Fullett more contracts rich joined. Gary_Fullett more convition early in the move DaveM well just means vulernable to supply and the rally won't continue til demand arrives DaveM gotta trade with one foot out the door :) rhonda quickly DaveM sellers just took a break at the bottom Gary_Fullett so Gary_Fullett the market was at 1400 s and p now at 800 abd we are up? Gary_Fullett u thik the trend is up? DaveM well i think the bggest 1 year gain was back in like '32 in the midst of the depression.... DaveM they are touting march as big a rally for '02..... DaveM so what.... Gary_Fullett right Gary_Fullett see the channel DaveM yea broke stride of demand line :( Gary_Fullett see the sot? DaveM on lo vol though gary? SOT either way? Gary_Fullett what was yesterday LarryG lack of buying Gary_Fullett yes LarryG vol low, but eom down Gary_Fullett a wide right DaveM lack of demand DaveM no supply .....yet DaveM last hour today was ugly though skylar agree with David :) Gary_Fullett dont u need demand DaveM well i mean i didnt see supply enter yesterday to your question Gary_Fullett didnt we break Gary_Fullett a rredline DaveM yes, i just didn't see supply enter though (yesterday) Gary_Fullett see the numver i wrote DaveM y Gary_Fullett those are demand bar Gary_Fullett so are these supports DaveM u'ld expect Gary_Fullett and need to be watched Gary_Fullett on rretest DaveM y LarryG gary, on the 721 bar, why wouldnt you draw a support line at base of 750 bar instead? Gary_Fullett the top is is a reaction DaveM dont like the tl broke and the consistent weak vol on this rally...got to be trap sooner or later LarryG even though the 750 bar is closer in time, you think the 721 high more imp? Gary_Fullett so that reaction high Gary_Fullett is now support Gary_Fullett thae reaction Gary_Fullett i thonk 750 is important Mr_Steve gary was yesterday sale volume? LarryG sorry, meant low of 750 bar Gary_Fullett was a sot LarryG where vol came in Gary_Fullett right Gary_Fullett that channel tell us a story Gary_Fullett if yesterday was a shakeout then we recover quickly Gary_Fullett other wise we stay in the trading range Gary_Fullett see the 766 Gary_Fullett ? LarryG y Gary_Fullett it is a bottom of a demand Mr_Steve y Gary_Fullett so a line there DaveM interesting how price reacted at todays high ...from ice area intrady Gary_Fullett then 750 DaveM not good Gary_Fullett then 721 Gary_Fullett thr rtl is over bought Gary_Fullett see this Gary_Fullett see the close today? LarryG y Gary_Fullett what do u think of it? LarryG weak Gary_Fullett right LarryG woudl not expect higher tom Gary_Fullett mid range Gary_Fullett off the high Mr_Steve acording to volume I would say some selling shorts still went on today Gary_Fullett smaller range Gary_Fullett why? Gary_Fullett i think lower Gary_Fullett 780 area.. DaveM we'll see how it tests yesterday's lo...that should tell us something Gary_Fullett so the last 5 bars Gary_Fullett before friday Mr_Steve same volume, smaller range, closing in the middle Gary_Fullett was lack of up ward progress rich gary, today's volume is higher than yesterday, how do you explain that? Gary_Fullett not but much Gary_Fullett today was buyying ealy late sell off.. Lady_K left. Gary_Fullett so this was lacl of demand,, rich but you said late selloff is profit-taking, not supply? Gary_Fullett no Gary_Fullett i thought today Gary_Fullett was a selling from yesterday at higher levels. DaveM like i said Mr_Steve I would have to see smaller time frame Gary_Fullett so the first rally from selling is a sell.. Gary_Fullett so th erlly otday Gary_Fullett failed Gary_Fullett it was highe rall day DaveM if u get a chance look at TNA 5 min from yesterday/today....it's the russel 2k triple.....reacted right at the ice which was broken yesterday PM Gary_Fullett and the lst hour the market failed Gary_Fullett so the work to buy Gary_Fullett wa serased in 1 hiur Gary_Fullett this showed the eom Gary_Fullett was down Gary_Fullett i had the 810 area Gary_Fullett which i will show in the newsltter tonight Gary_Fullett but after yesterday action Gary_Fullett the raneg today wa ssnall Gary_Fullett so the market wa sbeing controlle dby sellers Gary_Fullett even though it was higher Gary_Fullett ths small rage was the cm Gary_Fullett preventing up side Gary_Fullett somemaysay it wa sstopping action down side Gary_Fullett oafter yetserdays break Gary_Fullett but Gary_Fullett the clos etold us the story Gary_Fullett the action showed us hhow easy it was to breeak Gary_Fullett see this Gary_Fullett o the reaction Gary_Fullett form eysterdays down Gary_Fullett wa spoor Gary_Fullett por Gary_Fullett poor skylar agree Gary_Fullett don tlet a few week rally on lighte rvolume Gary_Fullett turn trend so quickly Gary_Fullett the cm will not allow u to buy so easily Gary_Fullett now everyone is bullsih Gary_Fullett but the tape says there is still a alck of demand Gary_Fullett lack of demand Gary_Fullett and this needs to eb retested Gary_Fullett and if demand come sin we cna move up side DaveM y Gary_Fullett the nunmbers i osted Mr_Steve up bars on less volume, I love it. twice the money in half the time DaveM lol Gary_Fullett but u have to understanf Gary_Fullett the trned is down Gary_Fullett or its coming form a down trend Gary_Fullett so the cnng eof ahnds Gary_Fullett woud mean heavie rvlume Gary_Fullett the fact u rallied mikeyg left. Gary_Fullett on lighte rvolume Gary_Fullett the shrts are still short Gary_Fullett there was no transfernc eof eisk DaveM y Gary_Fullett transfernc eof risk Gary_Fullett tranference Gary_Fullett if they covered shorts agrssvely Gary_Fullett the volume would pick up Gary_Fullett so this is not the demand needed at lows imho Gary_Fullett which is why we ar eretesting Gary_Fullett any q Gary_Fullett nas s and p spread Gary_Fullett this is a great indicator Gary_Fullett of trend Gary_Fullett look at nov dec time frame Gary_Fullett u have an uptren d channel Gary_Fullett see how the market repsected the rtl line Gary_Fullett and the trend line support Gary_Fullett the market is nearing an over bouihgt sitution Gary_Fullett this spread tell us nas which s more spec stocks Gary_Fullett if they start to buy thes estocks Gary_Fullett money flow is easie inot stocks Gary_Fullett traders are willing to take more of a chance Gary_Fullett so this spread has been postibe Gary_Fullett way before the amrch 9th s and p lows Gary_Fullett to raly Gary_Fullett see this skylar left. Gary_Fullett so we can correct lower Gary_Fullett from ehere Mike_Gallager yes i am watching this now that you ha ve pointed it out Gary ty Gary_Fullett good Gary_Fullett its a nic eindiator Gary_Fullett indicator Gary_Fullett ten yr note Gary_Fullett great wyckoff chart Gary_Fullett the trend of the bonds and 10 yr notes have been up for a long time now Gary_Fullett so we have a tradign range Gary_Fullett 120 area Gary_Fullett to 1200 Gary_Fullett it is well defined DaveM left. Gary_Fullett then the wid ebar Gary_Fullett this was the fed day Gary_Fullett so clearly a demand abr day Gary_Fullett clear as day Gary_Fullett then w ehad the slwo retest Gary_Fullett on smalle rranges Gary_Fullett so the slow retest Gary_Fullett smal ranges Gary_Fullett not large volume Gary_Fullett back to joc creek Gary_Fullett is bullish Gary_Fullett perfect retest Gary_Fullett any q>? LarryG doesnt the rally from the creek seem a bit weak here? LarryG if it doesnt move up soon, i think i would expect another retest Gary_Fullett well yes Gary_Fullett good point Gary_Fullett i wrote in the nl Gary_Fullett that today had to reavt Gary_Fullett it ddid somewhat Gary_Fullett but not the demand neded imho yet Gary_Fullett so we ned a close above yesteerdays shighs Gary_Fullett and a close there on wider bar Gary_Fullett or it will fail goood eyes Gary_Fullett also Gary_Fullett look at the volume Gary_Fullett the vollume from the retest is weak hugh left. hugh joined. LarryG a ?, if you had bot the retest, would you move up your stop after seeing this rally? or even close out? Gary_Fullett the buy wa srec in the nl at 12301 Gary_Fullett yje strop should be at 12303 Gary_Fullett so yes LarryG cant see that, below low of which bar? Gary_Fullett the 2 bar lows LarryG ok Gary_Fullett the 3rd bar doem the end Gary_Fullett not the retest low Gary_Fullett because if they break the last 2 bars lows Gary_Fullett i think the move is under that retest low Mr_Steve . LarryG y Gary_Fullett the market needs to react Gary_Fullett above arecent high with decent volume Gary_Fullett other wise we go lower Gary_Fullett good eyes Gary_Fullett any q? Mike good comment larry LarryG :) Gary_Fullett but u can clearly see the support Gary_Fullett on the joc Gary_Fullett it is quite clear Mike_Gallager very clear Gary_Fullett great any q Gary_Fullett crud Gary_Fullett crude Gary_Fullett another well defined chart Gary_Fullett this market started an uptrned Gary_Fullett with the lows C. joined. LarryG maybe somewhat in sinc w/ stocks Gary_Fullett well it has been Gary_Fullett highe rstocks Gary_Fullett higher crude Gary_Fullett yes Gary_Fullett means economy is better Gary_Fullett so they are in sync Gary_Fullett the up trend line is clear Gary_Fullett look at trhe highs on this retest Gary_Fullett u have sideways action Gary_Fullett but wa sa alck of up sie folowthru Gary_Fullett like the stocks Gary_Fullett and it broke Gary_Fullett one of the best trades Gary_Fullett is when there is an apex Gary_Fullett the horiznatal line Gary_Fullett as well as the terned line slope Gary_Fullett u got tha today Gary_Fullett tthe wid ebar of yetserdays is suspect for the bulls Gary_Fullett because of the wide bar Gary_Fullett to support Gary_Fullett so if a shakeut we respond immedialtly Gary_Fullett other wise a weak rally will take us lower Gary_Fullett just lke in stocks Gary_Fullett look at the volume Gary_Fullett on eyhsterdays break Gary_Fullett didnt increase alot Gary_Fullett so this says porbably not supply Gary_Fullett the volume confirms the move or not confirm it C. NOT Gary_Fullett 2 c ;s tonigthj and 2 larry wow Gary_Fullett so in this case Gary_Fullett the volume not increasing Gary_Fullett on the break says that sellers werent active Gary_Fullett the buyers backed away and ddint take a s and Gary_Fullett stand Alicia left. Mr_Steve gary where would the next creek be on this chart? Gary_Fullett i dont see creek Gary_Fullett ow C. how would you read today's bar Gary_Fullett after 4770 are Gary_Fullett next support Gary_Fullett 4700 area Gary_Fullett the 4500 to 4400 Gary_Fullett weak rally c Gary_Fullett a small reaction to trend line spport Gary_Fullett so weak Gary_Fullett i think w eretest abck to 4500 in creude Gary_Fullett to em this also mean stocks test lower too Mr_Steve so in the event of a small up day you would not concider 5200 a creek? Mr_Steve at a later date? Mr_Steve approx 5200 swetz joined. Gary_Fullett we can retest yestedays Gary_Fullett vertical supply bar Gary_Fullett yesterdays highs Gary_Fullett eys Gary_Fullett but the wid ebar says selling wa spresent nootrader joined. Gary_Fullett so to em the next decnt move is down vs up Gary_Fullett w ecan test 5200 Gary_Fullett but i think crude has a date with 4400-4600 LarryG gary, in the event of a retest higher, would you consider the low of the 5th bar back (reaction low) to be more imp than the high of yest bar? Gary_Fullett because of the bar eysterday Gary_Fullett well the arger of the abrs was yesterday Gary_Fullett so i think eysterdayss highs more imp Gary_Fullett thats where selling occured LarryG ok JimC joined. Mr_Steve Why would this not be a creek? Mr_Steve 5200 Gary_Fullett well 5500 area would be mor eof creek Gary_Fullett the 5200 area Gary_Fullett is ic esupport that wa s broken Gary_Fullett so a retets of borken ic eand vsb Gary_Fullett verticla supply bar Gary_Fullett 5200 is wher eu had siem lows Gary_Fullett that were taken out eysterday Mr_Steve highest high? Gary_Fullett yes Gary_Fullett yesterdays high swetz howdy folks, you guys talking crude? Mr_Steve got it, ty Gary_Fullett crude man crude Gary_Fullett yes sir Gary_Fullett the reaction high or low swetz thank you, carry on :) C. left. Gary_Fullett is Key and is always marked Gary_Fullett u MUST draw a line Gary_Fullett form any bar Gary_Fullett that shows demand or supply from Gary_Fullett wide bars MUST be noted Gary_Fullett a swell as smalle rbars Gary_Fullett but at smalle rbars not always so w edraw a loine Art left. Gary_Fullett BUT we always draw a horizonatl line Gary_Fullett froma demand or supplty bar Mr_Steve One bar enough or 2 being better? Mr_Steve for the line Gary_Fullett 1 bar s fine Gary_Fullett draw lines that tell u a sory Gary_Fullett a ine that shows a reaction Gary_Fullett tellls u a story Gary_Fullett understand Gary_Fullett this is the esscenc eof wyckff Gary_Fullett its tape reading Mr_Steve top of demand, and bottom of supply or vise versa? Gary_Fullett correct Gary_Fullett but also the bototmof demand and the top of supply Gary_Fullett but if a demand bar Gary_Fullett the top of the demand bar Gary_Fullett should eb support Gary_Fullett if u retest the whole demand bar Gary_Fullett thats supsect Gary_Fullett bvut must be noted Gary_Fullett okay? Gary_Fullett make sens Gary_Fullett and form those horizxonatla bars Gary_Fullett always Gary_Fullett try ad draw the parallel channle Gary_Fullett the rtl line and the tren dline.. Mr_Steve ty Gary_Fullett quiz Gary_Fullett bullish or bearish Larry bullish took out creek? Mike_Gallager Bearish Mr_Steve bearish? Gary_Fullett interesting Gary_Fullett why bearish? Mike_Gallager sot? Mr_Steve I am a old school double top volw volume man Mr_Steve low Mr_Steve But Have been wrong many ti,es Mr_Steve times Gary_Fullett well u got apr tof it right Gary_Fullett the retets is very good Gary_Fullett but the close wa sabove creek? Gary_Fullett turn to apge 2 Gary_Fullett the close was above some creek Gary_Fullett u had a UT Gary_Fullett in july Gary_Fullett and a retest Gary_Fullett so this retest was about the 4t h time Gary_Fullett do u see any bars that are important Gary_Fullett a wad of peanut butter as david says? Mr_Steve i did not peak, Mr_Steve Like Nascar, trouble breeds trouble swetz ::eye ::rolleyes Mr_Steve caution breeds cautons Gary_Fullett well Gary_Fullett look at the action Gary_Fullett with the highest volume Gary_Fullett the alreg bar break with volume Gary_Fullett aug 11 Gary_Fullett this was the highest volume and the highest bar length Gary_Fullett man got drunk and starte d riding his bar stool on topo of his lawn mower after 15 beers must have been steve Gary_Fullett true tory Gary_Fullett so the wid ebar Gary_Fullett highets volume Gary_Fullett highest volume LarryG must have been stopping vol since no follow thru Gary_Fullett but the retest after that supply bar Gary_Fullett was weak Gary_Fullett so after supply NO demand Gary_Fullett well good point larry but Gary_Fullett after seral retests Gary_Fullett the market showed supply Gary_Fullett so after suply Gary_Fullett the reaction grinde dhigher Gary_Fullett BUT supply wa sevident Gary_Fullett the next abr Gary_Fullett after that suppkly bar Gary_Fullett wa son lack of volume Gary_Fullett IF the maret was stopping action Gary_Fullett volume woudl ahve came in larry g Gary_Fullett but the volume didnt confirm the rally Gary_Fullett iif stopping action Gary_Fullett then the volue wiudl ahve cme in larry g LarryG ok Gary_Fullett the market did grind highe rbut not supported by volume Gary_Fullett understand ? Gary_Fullett there are several bars of supply on this chart' LarryG y LarryG ?: those small bars after the wide range seem to show very low vol, so little selling, would that be proper place to buy? Gary_Fullett the seond one hapens after this retest LarryG seems low risk Gary_Fullett well that bar wa sa selling abr Gary_Fullett so to BUY after u got supply is risky Gary_Fullett the risk would be under that low Gary_Fullett so if that is your niche u can Gary_Fullett but more risky Gary_Fullett because if u buy after supply Gary_Fullett u r buckig the tape Gary_Fullett unless u scalp Gary_Fullett like biuying aspinr g in a down amrket Gary_Fullett its a niche for some Gary_Fullett BUT Gary_Fullett its a scalp not a postion LarryG understand Gary_Fullett once u get upply Gary_Fullett the eom is down Gary_Fullett so u may get the retest Gary_Fullett and u did Gary_Fullett so u can paly for that retest Gary_Fullett but going with the eom is better Gary_Fullett any q on charts Gary_Fullett they ar enci eto review Gary_Fullett notic ethe cheneel in stocks Gary_Fullett amos tommorw Gary_Fullett when i daw the trned lines and horizoantal Gary_Fullett lines Gary_Fullett pleas eunderstand them Gary_Fullett any questions? LarryG very good gary, ty Mr_Steve thanks Gary you did a nice and understandable job Gary_Fullett i try Gary_Fullett amos tommor Gary_Fullett pleas elook at the trne dlines Gary_Fullett that steve amos I draw Gary_Fullett and the lines that ar ehorizoantal Gary_Fullett they tell a s tory Gary_Fullett u draw lines that tell stories Gary_Fullett any q? Trevor left. John left. Ian ty gary Ian first time here great stuff Ian left. Gary_Fullett welcome Gary_Fullett opps Gary_Fullett okay see u tommorow Gary_Fullett night all Gary_Fullett left.