Gary_Fullett joined. jeb like a machine mhh joined. Gary_Fullett good evening mhh is this an irc channel? (can I use an IRC client instead) Gary_Fullett i dnt understand the question? Ory Goodevening Gary joe_s good evening Anna evening Gary_Fullett did u all recive the charts joe_s y Anna y Gary_Fullett let me talk on the markst over lal a bit Gary_Fullett we are in markest that are deoupling for one another Gary_Fullett we are in markets that are very skitteish Gary_Fullett today u saw te dollar sharply ower Gary_Fullett an d gold was also lower for much of the day Gary_Fullett so be aware that there is alot of money moving around. Gary_Fullett and like a hot fire Gary_Fullett moving at random Gary_Fullett to oppotunies Gary_Fullett but we treat markest as is Gary_Fullett and just understand the tape Gary_Fullett ther eis somethin g i wnat to also say about bar by bar Gary_Fullett the cm Gary_Fullett works with campigns Gary_Fullett they dont doa 5 min campign Gary_Fullett they accumulate distribute Gary_Fullett have mark up mark down as a prosess Gary_Fullett they odnt scalp 5 min for thier bread and butter Gary_Fullett they may be there for stoppijgn action Gary_Fullett and buy over a 5 , 15 min time frame Gary_Fullett but very small tiem frames is noice Gary_Fullett from the scalpers ect Gary_Fullett wyckoff charst working in all time frames Gary_Fullett but be careful trading very short term Gary_Fullett as there are stops noise Gary_Fullett i traded in the s and p 500 pit wiht scalpers wyatt joined. Gary_Fullett so i know the intent of the 5 mn chart Gary_Fullett being noise tradebale by some Gary_Fullett any q on this Gary_Fullett very imp to differiante Gary_Fullett let s do chart Gary_Fullett first corn Gary_Fullett i mnetoned ths before Gary_Fullett but i will again Gary_Fullett look at the lows in corn Gary_Fullett what do u notice? Gary_Fullett u n otice a low end close Gary_Fullett the next bar wide bar with high volume Gary_Fullett this is what we call volume off the bottom Skylar joined. Gary_Fullett so now the market is consoldatin Gary_Fullett after thr up Gary_Fullett so Gary_Fullett look at the last 3 bars Gary_Fullett wee correct for 3 bars Gary_Fullett and then go back to the trend Gary_Fullett u seee 3 bars lower Gary_Fullett thenn a mpve Gary_Fullett move Gary_Fullett any q?> Gary_Fullett u cna see we are at creek areas Gary_Fullett that w eeither get mark up Gary_Fullett or we get a selling action tonyw Is that absorption at the creek area? Gary_Fullett well how do we tel absorbtion or not? tonyw close at the high Ory high end close with volume Gary_Fullett mid range to uppe rrange Gary_Fullett telling u buyers winnuing Gary_Fullett usually on the righ side of a range Gary_Fullett u get volume as specs andfunds come in Gary_Fullett so Gary_Fullett the quick reversal from2 bars ago was demand coming in at support Gary_Fullett 2 bars ago Gary_Fullett there was a down abr close on the lwoes Gary_Fullett lows Gary_Fullett then the up bar yesterday and follow thru today roger joined. Gary_Fullett understand Gary_Fullett folow thru Gary_Fullett is key with bullish or bearish behaviors Janet left. Gary_Fullett so the corn is at the highs creek Gary_Fullett so we can see either an upthrust or mark up Gary_Fullett q on corn i ahve some other charts that are great Janet joined. Gary_Fullett euro daily Gary_Fullett i want to point out a few cob change of behaviors bars Gary_Fullett that must be heeded Gary_Fullett that i pointed out Gary_Fullett look at the lwos Gary_Fullett of thsi chart Gary_Fullett what do u see tonyw SOT Gary_Fullett u see small bars Gary_Fullett u see stoping action Gary_Fullett why? Gary_Fullett look at the volume Gary_Fullett of those 2 lows Gary_Fullett high volume small range Gary_Fullett se this? Skylar yes Gary_Fullett so high volume Gary_Fullett small range Gary_Fullett stuffing action Gary_Fullett lots of buyers lots of sellers NOT net change Gary_Fullett effort vs result Gary_Fullett wyckoff principles Gary_Fullett very important Gary_Fullett but we still dont ahve a demand bar Gary_Fullett its one thing to say Gary_Fullett stopping ction Gary_Fullett but to tuen up u need to see demand Gary_Fullett we see that Gary_Fullett on july 1` Gary_Fullett wide bar Gary_Fullett higher volume Gary_Fullett this was saying that the market wa sable to rally and hold Gary_Fullett lok at the next 2 bars Gary_Fullett small ranges AFTER the july 1 eaLLY Gary_Fullett rally Gary_Fullett the 2 small range bars Gary_Fullett show a lack of seling Gary_Fullett not ice the up bars Gary_Fullett are sharper Gary_Fullett thna the break Gary_Fullett wider and on increased volume Gary_Fullett see this? Gary_Fullett i wrote on the news leete erchart last night Gary_Fullett that this appears to be apbsprtion Gary_Fullett notice the close son balances are high end Gary_Fullett the hihg end close ssay buls are winning Gary_Fullett so i wrote the cmmetns i did Gary_Fullett and the market is mid range Gary_Fullett so has room to run in that channel n joined. Gary_Fullett the 13101 area a vertcil supply bar Gary_Fullett but u do have several changes of behaviors Gary_Fullett at the lows Gary_Fullett and the july 1 rally Gary_Fullett so lack of selling Gary_Fullett lead to eventual Gary_Fullett buying Gary_Fullett any q/> Gary_Fullett imm going to sahr ewiht u a chart i sent to newlstter folks today Gary_Fullett it is a classcial chart Gary_Fullett and u should keep it Gary_Fullett it is a live euro chart Gary_Fullett doesnt get more clasical Gary_Fullett i abled it very well for u Gary_Fullett labled Skylar euro sixty min chart. nice:) roger yes it is awesome well done and definatly a keeper Gary_Fullett it is a perfecyt chart swetz joined. Gary_Fullett i cant go ove rit alot tonight ebcause steve will be here Gary_Fullett but u can review it but Gary_Fullett u cna see how markets respewct the spring Gary_Fullett and how the up bars are stonger Gary_Fullett then the down bars Gary_Fullett the trading ranger above the lower one Gary_Fullett all markest start form trading ranges Gary_Fullett and mark up or mark down Gary_Fullett but u cna see the jump over the creek Gary_Fullett at 12600 Gary_Fullett this lead to mark up Gary_Fullett marke up in a bull trend leads t a higher trading range Gary_Fullett for aother jump over th cree Gary_Fullett u saw this at12725 Gary_Fullett springs arte designed Gary_Fullett to shakeout longs Gary_Fullett to get shorts in' Gary_Fullett the transfer of risk Gary_Fullett at the danger areas Gary_Fullett danger areas Gary_Fullett ic ecreek Gary_Fullett the areas where turning points are Gary_Fullett u can see at thse turnin g points Gary_Fullett the market reacted joe_s Is this also call a hinge Gary_Fullett the hindge Gary_Fullett was at 127020 joe_s a turning point Gary_Fullett a Hinge after a move Gary_Fullett U get like asbsrption for an up move Gary_Fullett the demand abr Gary_Fullett and then smaller bars that show no supply Gary_Fullett right mark joined. Gary_Fullett but the beauty of this chart Gary_Fullett saVE IT AND WE CAN DISCUSS TUESDAY NIGHT Gary_Fullett sorry on caps Gary_Fullett and from this action' Gary_Fullett we went higher Gary_Fullett quiz chart Gary_Fullett what do u see? Gary_Fullett u see a market thats in a down trend Gary_Fullett do u se that Gary_Fullett trend is first Skylar retest to the 7 area,... yse downtrend Gary_Fullett u see high volume Gary_Fullett at the early june lows Gary_Fullett riht? Skylar yes Gary_Fullett right Gary_Fullett so we knw bearish Gary_Fullett we get a rally Gary_Fullett the rally at the high Gary_Fullett was on lght volume Gary_Fullett so we knwo a retest right? Gary_Fullett and we got one Gary_Fullett if u recall Gary_Fullett I sent u sotcks Gary_Fullett that were above the may 6th lows Gary_Fullett this stock is Under the may 6th low Gary_Fullett so weaker in cmaprasion Gary_Fullett and stevee swetz does a great job Gary_Fullett on wekaness and strerngth of stocks Gary_Fullett what can u say about the retest? Gary_Fullett go to page 2 Skylar lighter volume Gary_Fullett yes Gary_Fullett do u all see that roger looks like it will possibly spring Gary_Fullett but u ahve an outisde bar lower Gary_Fullett and u r under ice roger on low vol Gary_Fullett but the keyt is a red flag with lack of volume Gary_Fullett so we must hav a red flag Janet left. Gary_Fullett 3rd chart Gary_Fullett look at the lows Gary_Fullett we had a VOB Gary_Fullett see the large volume Gary_Fullett rally Gary_Fullett its a 7 buck stocks Gary_Fullett so a buck move is huge Gary_Fullett but u see large volue on the lwos Gary_Fullett nd a light retest Gary_Fullett we cant buy this market Gary_Fullett on the retest Gary_Fullett because its still weka Gary_Fullett but u can buy if u get demand Gary_Fullett last chart Gary_Fullett u see ths result Gary_Fullett the spring bar Gary_Fullett the bar after this lowws Gary_Fullett was the bar Gary_Fullett to buy Gary_Fullett sinc eu ahd NO follow thru on the retest Gary_Fullett to the down side Gary_Fullett but u couldnt buy this market UNTIL u got demand from support Gary_Fullett aNY q?> Gary_Fullett i cut into srteves time joe_s thanks gary Gary_Fullett I knew i wouldnt have time with trh euro swetz okay, ladies and gentlemen Gary_Fullett BUT i ahd to show and exp,ain Gary_Fullett any q roger Hit it steve swetz go ahead and do the Euro Gary!!!!!!! Gary_Fullett other wise the gentleman form the south will speak Gary_Fullett will take an hour Gary_Fullett i just touche don it swetz take all the time you want Gary_Fullett so please discuss it i will have it for tuesday Gary_Fullett I wanted people to ahve it swetz lol Roger swetz see I was trying to get out of talking about my losing trade today :) Gary_Fullett i know Gary_Fullett but its imp swetz lol Gary_Fullett to show swetz just kidding :) Gary_Fullett thats what amos does Gary_Fullett very imp swetz okay folks swetz as usual, I sent the charts in the wrong order swetz lets go to chart #12 out of 13 first swetz it is the hourly chart of the SnP cash index swetz it bascially shows all of the activity since the April high swetz but I want us to focus on the action since the June high swetz we can see my swings or buying/selling waves that overlap the price bars swetz from the June high, a turning point formed to begin a selling wave swetz there was a minor downward SOT shown by the lessening of the downside progress shown by the 3 arrows and the SOT label swetz in real-time, this action is ONE way a POTENTIAL turning point forms swetz but notice how WEAK the rally was swetz in fact, it was so weak, a buying wave never did begin swetz and there certainly wasn't a wide range up bar that is what I like to look for to help prove a turning point swetz what actually happened is a wide range DOWN bar or vertical SUPPLY bar occurred swetz which told us that the shaded area was just a RESTING SPELL as Wyckoff would say swetz as the market paused before resuming its selling wave swetz so the SnP falls to 1040 (an OBVIOUS support level) swetz EVERYBODY in the world knew that level swetz with this level being so OBVIOUS, notice how WEAK the attempted rally was swetz in fact, there really wasn't a rally at all but just a little bit of sideways action swetz when demand cannot even overcome supply at such an obvious support level swetz the market IS GOING LOWER hokah joined. swetz and that is what happened as the market moved into an oversold positon swetz while it looked at the moment that the market would just fall straight down swetz something very important happened swetz a POTENTIAL TURNING POINT formed swetz I am always looking for these potential turning points swetz a buying wave occurred which is a normal action after an oversold position swetz so there is nothing special about that swetz but what gets interesting is what happened NEXT swetz when the SnP rallied to 1040 and began to react on July 6th swetz the sellers were in total control to really break this market swetz Ice held on the rally, the downtrend channel was intact swetz the coast was clear for the sellers to push this market down swetz but on July 7th, the very next day, a VERY WIDE RANGE UP BAR with a STRONG CLOSE occurred swetz the sellers LOST all control swetz a TURNING POINT had been CONFIRMED swetz with very strong upward EOM swetz the turning point even left behind a SPRING of the TR swetz so the buying wave begins in EARNEST swetz and rallies to the FIRST shaded area swetz now if sellers are ready to regain the upper hand, a TEST of that shaded area would have been a excellent place for sellers to gain control swetz we KNOW that sellers were successful in overcoming the buyers during the FIRST shaded area swetz that is what the vertical supply bar the next day PROVED Skylar left. swetz so in real-time, I waiting and watching to see IF a turning point can form swetz but if you notice in that SECOND shaded area swetz buyers continued to ABSORB the sellers swetz so there was NEVER a potential turning point that was proven with a TRIGGER BAR swetz so the buying wave continues to unfold swetz as buyers continue to successfully overcome the sellers swetz until it reaches the SUPPLY TL drawn on this chart swetz here again, I am trying to see if a potential turning point can form swetz in a market that is in a downtrend on the larger timeframe chart Caby left. swetz so I zoom in to the 10 minute chart to see if I can see a Wyckoff story developing that may help me better locate a TURNING POINT swetz which brings us the last chart #13 of 13 swetz us to the last swetz which is a 10 minute chart of the SnP cash index swetz again, I have my buying/selling waves swetz and behold I see a little TR develop swetz I have the Creek and Ice levels marked swetz a BREAK UNDER ICE on this 10 minute chart would lead to a turning point on the hourly chart swetz so after the Break this morning swetz I was looking for a rally and a trigger bar (wide range down bar with volume) to get on board swetz the break stopped where the demand bar on Tuesday originated swetz and began to rally swetz so I was watching for a trigger bar to develop swetz but NO TRIGGER bar occurred swetz the reaction was WEAK but should have been STRONG if the rally to Ice was going to lead to a markdown or a strong selling wave to ride on the short side swetz so I continue to wait swetz as another buying wave unfolds swetz this buying wave started having trouble getting above the AREA of those TWO WIDE RANGE DOWN BARS that created the Break Under Ice swetz so here I go again looking for a TRIGGER bar to get SHORT swetz and I GET ONE swetz the bar labeled "short" is the bar I went short on near the low of that bar swetz ntoice how wide it was, the poor close, volume (not shown on this chart) increased as well swetz and this one down bar negated the action of the last 10 bars swetz in real-time, I had to get short according to my rules and get short NOW swetz with a stop placed above today's high swetz when I go into a trade, you may find this weird, by I assume I am going to be wrong until the market PROVES that I am right swetz well, we know from Wyckoff that if a RALLY to ICE is going to lead to a MARKDOWN phase swetz we need to see evidence that sellers truly have the upper hand swetz we know from Wyckoff that we can tell that sellers have the upper hand is by just watching the range, close, and volume of the subsequent bars swetz in other words, just watching the tape swetz the next bar that followed by short trade was okay, sellers were still in control swetz so far, so good swetz the next bar had me a little worried because the spread was wide and the close was strong swetz but the next bar was the clincher swetz the range was even WIDER, volume (not shown) INCREASED even more, and the close was STRONG swetz buyers stepped in to overcome the sellers in a decisive manner swetz there is no question about it swetz the ACTION of the bars clearly provide us with this message swetz I do not wait around for the SnP to continue rallying, the action of the market has already told me that my trade is wrong and I better get out swetz so I do, basically at the high of that wide range up bar swetz my loss was VERY SMALL swetz the hourly turning point occurred that led to a selling wave but the wave did not last very long, did not go very far, and now based on the rally into the close is already done and another buying wave is just beginning swetz shown on the hourly chart swetz so here is an example of where I identified a potential turning point and saw a trigger bar to take action swetz but the selling wave never did amount to anything and the trigger bar did not lead to any kind of downside follow-through of consequence swetz see they dont all work out :) swetz but I followed my rules which is all any pro trader can do swetz the outcome I cannot control, but I can control my plan :) swetz now this trade didnt work out but here were a couple I made that continue to do pretty well swetz but there were swetz my time is running out swetz but I have included a daily and hourly chart of VMW and NTAP to show both the Wyckoff story, the trigger bars, and when the stocks were bought swetz the Wyckoff concepts that played an IMPORTANT role in these stocks swetz are RELATIVE STRENGTH, the TREND, the SETUPS, the 1/2 POINT, how resistance often becomes support on a subsequent TEST swetz the evidence of demand on the buying wave followed by a drying up of selling pressure on the subsequent selling wave swetz and the oversold position and the potential turning point in the major indexes helped provide a low risk opportunity to enter these trades swetz if you have questions on any of these 4 charts you are welcome to email me :) swetz 10:00 on the nose and I am all done :) swetz any questions? Ory awesome Steve joe_s thanks steve it was great swetz glad you liked it Ory and Joe, your checks are in the mail :) joe_s absolutely mark left. Ory i expected them Thxs swetz lol roger steve really appriciate the es charts thx n First rate, for a change... roger good stuff now to put it to work Anna Steve, on the snp trade did you have stength or weakness in Back ground? roger lol n swetz lol N swetz no problem Roger n ;) Gary_Fullett fantastic Ory the more you practice the better one gets n My loss was bigger than your loss...:( joe_s left. swetz sorry N :( swetz Anna - well, the daily trend in the SnP was down on the daily chart, at least by the way I determine trends n Trading is like a box of chocolates,,, swetz so I was focused on finding a turning point to short this market swetz yes sir N :) n !!! tonyw Thank you very much Steve and Gary for the great lesson. Gary_Fullett steve is the best swetz thx Tony :) Gary_Fullett writea great stock newslter n Good chart on the Euro, Gary...got out 150 pips too soon... swetz on those VMW and NTAP daily charts Gary_Fullett itsd a classical chart Gary_Fullett when i sent it today thought they ajd more up side swetz notice the position of those charts on July 6th, 7th while the SnP was in an oversold position trying to form a turning point n swetz should take up golf and play in the Masters... swetz VERY, VERY important to understand swetz lol N, naw, they make you play during lunch :( :) n Should have known... n Excellent charts, Gary and swetz...cheers!!! Anna Thank you Very Much Steve and Gary! swetz thx N and cheers to you as well :) swetz thx Anna :) Ory Thanks Gary swetz okay folks, I wish you guys and gals all the best roger thx again gary and swetz swetz cy tomorrow or next week :) swetz cy Roger :) swetz left. tonyw left. Anna left. roger left. n left. Gary_Fullett night all ty Gary_Fullett left.