Gary_Fullett joined. Gary_Fullett good evening Gary_Fullett did u all get charts? jil joined. Ory y jil left. joe_s y Gary_Fullett fantastic Gary_Fullett i wnat to review some charts form the new sltter Gary_Fullett because the es exzpecially wa sa very importan tday actoopm Brian_O joined. Gary_Fullett before we begin Gary_Fullett any questions? Gary_Fullett or comments or observations Gary_Fullett i minute please hokah joined. Brian_O any chance you could follow up on your thoughts on JWN from the other night based on the last couple of days? Looks like it broke ice jil joined. Dmitry joined. themick joined. Gary_Fullett okay back I had to check on my daughter Gary_Fullett i didnt send the chart on it but I can talk about it and u cna go back and review it Song joined. Ory Thxs Gary Brian_O that would be great Gary_Fullett 2 days ago was a retest on high voluem low end close Gary_Fullett and was to ice Gary_Fullett but a poor close at ice on high volume Gary_Fullett what does this tell u? Brian_O trying to figure out if the last couple of days represents a spring or a legitimate break of ice. PiggyBack weak Gary_Fullett its weak Gary_Fullett the market made noew lows with volume Brian_O poor close on high vol is bearish/weak Gary_Fullett this isnt not a spring and if theya ttept a spring it willl fail Gary_Fullett they need to sell more shoes Gary_Fullett vorrect Gary_Fullett correct Brian_O lack of demand Gary_Fullett well lots of supply Gary_Fullett btw I want to thank you for all the kind words that you have emailed or wrote me about the webinars and the site ty wyatt joined. Brian_O yw Gary_Fullett so does that answer nordstrom? Gary_Fullett jwn Ory i try to mention in day classes Mike_Gallager you are welcome Gary you do a fine job Brian_O for now, yes thanx FranknMiss joined. Gary_Fullett ty ory and mike Gary_Fullett okay any other questions Ory always a pleasure Gary Gary_Fullett okay Gary_Fullett no othe rq Gary_Fullett we can begin Gary_Fullett s and p Gary_Fullett the comments are from the neslter odf last night Gary_Fullett in advance Gary_Fullett what do u see here Gary_Fullett for those who are new Gary_Fullett wyckoff uses these parallel channles and horizonatl lines Gary_Fullett vs trend lines by itself Gary_Fullett so what do u see Ory approached support in up-trend Gary_Fullett correct Gary_Fullett thats a very valaibale piece of info Gary_Fullett valuaable Gary_Fullett why? Ory follow the trend Brian_O uptrend w/in trading range Ory that too B Gary_Fullett the trend is thmost imp info u ahve Brian_O middle of trading range so no trade FranknMiss danger zone Gary_Fullett but u have an uptrend line in the cannel Gary_Fullett but u saw where i worte the market must react or fall Gary_Fullett so it was a danger area in this channel as frank mentioned Ory agreed Brian_O sure didn't look like a lot of demand, imho Gary_Fullett so after weakness Gary_Fullett the bulls must take control Alvin joined. Gary_Fullett and what did the action do today? Song yes, didn't see a lot demand yet Randy up mid range close, volume ok Gary_Fullett well the market wa sup 2400 points at 1 point today Gary_Fullett so we reacted Song tried high, closed in the middle, normal volume Gary_Fullett close in the middle? Ory very small bar but high end close Randy yes above 1/2 way but mid range Song 1089? gave back a lot Jon spy closed below the middle on higher vol. Gary_Fullett more above the middle but we had reached resiatnce at 1098 Gary_Fullett just before the line i drew Gary_Fullett so the sellign wa slte Brian_O I'd say it closed above midpt but also off highs, Gary_Fullett and the cm likes to have 0 comapny Gary_Fullett so they sunk prices lower late Randy yes middle 1/3 is my point Gary_Fullett so w ewill try to sell a retest of the 1096-1102 tommorow Brian_O not what you'd want to see if you looking to go long short term? Gary_Fullett i mn please sorry Song why, for what? Brian_O will that area also coincide w/ the halfway of last week's supply bar? Song I will say roughly Jon bias is down but there is support at todays low which could setup a buy if it holds at the 10am reversal time Gary_Fullett ok Randy 1/2 way back was about 1098 Gary_Fullett i am lookingat a 60 min suport to buy a retest Ory what 10. am reversal jon Gary_Fullett correct jon great eyes Jon yes Ory ooooopppppsss i blew that Jon if we move down at the open look for long at 10 am reversal time if todays low holds Gary_Fullett well i odnt knwo abot time bu i do know about action Jon the market has key reversal times every day Ory cycles jon Gary_Fullett so Gary_Fullett we reacted Gary_Fullett but w eneed to see that back round Gary_Fullett and what is the recent back round? Randy weakness Gary_Fullett right Gary_Fullett so today Brian_O bearish down to the trendline Gary_Fullett would be a retest of broen ic eat 1102 Randy y dz joined. Gary_Fullett do u all see this Gary_Fullett the lie is drawn Ory y Gary_Fullett so if w ecan get a retest Brian_O trading range w/in the channel Gary_Fullett we an have aproper sell Gary_Fullett and the larger pic is a tradign range as brian has mentioned Gary_Fullett goood Gary_Fullett so u see this Gary_Fullett what esle do u see Gary_Fullett these quick hypodermic moves Gary_Fullett are design for shakeouts BT we have had the cob and ending top action 8/11 Gary_Fullett correct Gary_Fullett cob is a change of behavior Brian_O could you explain the shakeout moves a bit more? BT just looking for the test now dz left. Song yes, please, how to identify the shake out? Gary_Fullett it is a quick sharp move in the opposuie direction to shaout out longs or shorts Gary_Fullett so in tis case to shakeout shorts FranknMiss Gary - if we move quickly back to 1125 area would you consider this just a shake out of weak hands/ Song so you mean the back ground weakness, right> Gary_Fullett i expalined this isn a webinar Gary_Fullett a greta exaple in the differnce Gary_Fullett only amove above 1130 woudl set up to see 1175 area Gary_Fullett correct song Ory this is correct Brian_O is the shakeout designed to test supply or shake out the shorts before moving higher? Mr_Steve joined. Gary_Fullett because w ehave creek resiatnc eat 1130 Gary_Fullett and it wa sa congestion area Gary_Fullett that is resiatnce Gary_Fullett so a wide rbar with volume above this area would eb bullish Gary_Fullett it can be a test Gary_Fullett but the purpose is for the market to counter trend quickly and sharply Gary_Fullett then go back in its trend Randy cm does not like company, shakeout shorts before the market goes down again. Gary_Fullett yes sir Gary_Fullett many thought that mayth was a shakeout Gary_Fullett the fat finger day Brian_O ty Randy, you read my mind :) Gary_Fullett do u think this wa sa shakeout? Gary_Fullett look to the left Gary_Fullett the largge bar Brian_O creek also coincides w/ the close on fat finger May 6th Brian_O creek area that is Gary_Fullett so do u think this was a shakeout? Randy no Brian_O today? Gary_Fullett why not? Brian_O aren't shakeouts generally wider range higher vol? Randy in may because we went down much farther and did not resume the up trend Gary_Fullett may 6th BT a shakeout would have traded right back up ,,this has no interest to the upside ? themick shake outs usually much more up / down and lead to higher prices Gary_Fullett yes they arebrian Gary_Fullett large range wit volume Gary_Fullett right BT Gary_Fullett the shakeout if may 6th wa sone Gary_Fullett would ahve gone back to th e upside Gary_Fullett insttead Brian_O then today would not meet that criteria Gary_Fullett what did the market do? Jon yes, shakeout are testing supply before trying to move hugher...supply came in Gary_Fullett it formed a tradign raneg shakeouts dont form tradign ranges Gary_Fullett thyey cntinue in the trend Jon right Gary_Fullett so we reacted form trned line today Gary_Fullett so as logn as we stay in tis range Brian_O sorry, as you have mentioned before a shakeout should lead to a new high Gary_Fullett the es has a slightly twinge lower Gary_Fullett highe rprices than the shakeout high at least Brian_O which clearly it did not from May 6th Gary_Fullett correct Gary_Fullett so we are still in tis traing range Gary_Fullett what shoudl we see on the right side of this range? Brian_O is there anything about the May 6th bar itself that would have led you to believe that it would not be a shakeout? Randy volume Brian_O or are you just looking for the market reaction to it to make that determination? Brian_O sos or sow Gary_Fullett at the time no Gary_Fullett BUT Gary_Fullett when we broke lower Gary_Fullett 5 bars lower Gary_Fullett it wa sevident it was supply Gary_Fullett corect brian Gary_Fullett a sign of strength or soign of weakness roger joined. Brian_O and there is neither yet Gary_Fullett we can be close if we break the up channel line Gary_Fullett so we waytch for strngth or weakness on a br or a few bars Brian_O is the 1050 level marked as the low before the high? larryg joined. Gary_Fullett yes Gary_Fullett thats why the line is drawn there Gary_Fullett good eyes Gary_Fullett u have come a long way Brian_O just checking, thanx, also appears to be ice as represented by trading range since May 6th Gary_Fullett goood YG joined. Gary_Fullett any q on this chart?> Gary_Fullett 60 min chart my favorite Gary_Fullett and should be yorus for the es Gary_Fullett i labled this well Gary_Fullett i sent ths char eysterday durng the day as it was unfolding Brian_O how far back do you usually look on the 60 min? Gary_Fullett do u see a spring Gary_Fullett a few days Gary_Fullett notice te hig end close and wide range Gary_Fullett wyckoff has 23 types of springs Brian_O looks to be trading in lower range of trading range from last few days, weakness? Gary_Fullett albeld number 1 spring number 2 spring and number 3 spring Gary_Fullett easy eh Brian_O probably need a little more time w/ that :) Gary_Fullett probably yes briasn Randy I thought he just had 3 springs?LOL Gary_Fullett so u cna se the spring Gary_Fullett and w ehad a retest 1/2 back Gary_Fullett and this is a great exxampe of absoprtion springs hinge Ory but with that large bar couldnt break out of tr Jon yes consolidating in upper half Gary_Fullett they went above creek Gary_Fullett which lea dto mark up today Jon yes Gary_Fullett and u cna see the levels i mentioned and th e amrket wne thru those Gary_Fullett can u see the spring and the absorption Gary_Fullett market holding near creek Brian_O any reason we don't see vol on the 60 min? Gary_Fullett in the range Gary_Fullett upper half Gary_Fullett proper use of 1/2 back Gary_Fullett of a spring Ory oh sure Jon 505 retracement of spring...fib Jon 50% Gary_Fullett because I wanted to show u can see action Gary_Fullett and u can deduce it with no vo,ume with just price Gary_Fullett u can tel by price acrion the market absorbing Brian_O absorption as represented by? Brian_O smaller bars w/ mid to high closes? Gary_Fullett after a spring Gary_Fullett and buying Gary_Fullett the slow retest Gary_Fullett to the 1/2 area in this case Gary_Fullett small ranges retest Gary_Fullett shows a lack of supply Gary_Fullett after the spring Brian_O next creek level? 1090ish? Gary_Fullett t wa but we went to 1098 Brian_O expecting spring to fail since we're in downtrend? Gary_Fullett resistanc enew the daily resiatnce Gary_Fullett yes in the long ru' but u can have a decent reaction like u did today Gary_Fullett springs do fail in down trends Gary_Fullett but tey can rect for a bit as well Brian_O got you, thanx Gary_Fullett :) wyatt left. Gary_Fullett good observaton u have come a long way Gary_Fullett q on the bullsines s here Gary_Fullett look at rthe next chart Gary_Fullett i dont send it to the class often Ory no loooks good Gary_Fullett bt to newslteer folks all the time Gary_Fullett this si the nas-s and p chart i always talk on with nas eadign the es Gary_Fullett u cna read the coments Gary_Fullett what was the expectation to the charts action Gary_Fullett retested support on the down trend line Brian_O not familiar w/ this chart and it's implications, other than your comments Ory which line is which Gary Gary_Fullett te dow trend line was taken out Randy the wiggley one Gary_Fullett and was supor tonn the retest Gary_Fullett the nas tends to lead markest direction brian Gary_Fullett spreads tend to lea dthe outrights Ory so the channel is the ? Gary_Fullett exectation was an up move today Gary_Fullett the spread took out the down trnd line Brian_O on both the s p and nas? Gary_Fullett and was a etst Gary_Fullett this si the Nas minus the es Song upthrust? Gary_Fullett where? Gary_Fullett it ddint take out a prev hihg Song broke the trend line Gary_Fullett umean an upthrust Gary_Fullett of the down trend line? Gary_Fullett no it sint Song yes Gary_Fullett isnt Gary_Fullett any q? Gary_Fullett bonds Gary_Fullett see the reverse trend line Brian_O James? sorry, that was lame Gary_Fullett what does ths revese trned line repsent? BT confused about volume ,,if it is a buying event should not volume be spiked Randy overbought Brian_O potential supply Gary_Fullett wher ebt? mark left. Gary_Fullett where bt? BT on right edge Gary_Fullett well in bonds the vo,ume is in the 10 yr not Gary_Fullett but the reverse trned line here Gary_Fullett is an over bouhgt line Gary_Fullett u are at high risk being long when u ahve gone ove the rtl Gary_Fullett reverse trnd line Gary_Fullett what else repsents an ove rbought over sold area? Brian_O creek Randy horizontal support and resistance Mr_Steve lack of volume? Brian_O and ice BT low were lifting in channel Gary_Fullett nope BT lows Gary_Fullett besides the rtl line Gary_Fullett what othe rindicator Gary_Fullett tells u that? Gary_Fullett starts with a P Mr_Steve no test? Brian_O range of bars Randy price? Anna p&F Gary_Fullett no Gary_Fullett YES anna Anna yep Randy good anna Gary_Fullett i knew a beautiful women would get it Gary_Fullett men yesh Gary_Fullett yes eys eys Brian_O lol Gary_Fullett the point and figure si a guide of cause Anna It ran out of Cause persay. Gary_Fullett a guide Gary_Fullett RIGHT!!! Gary_Fullett just lke the p and f is a guide so is the p and f guide to ove rbought ove rsold conditions Anna So, a new Range is Ok . Gary_Fullett yes what does the new range do? Anna Create next Cause BT so it could drop till it builds and finds demand Anna your too easy Gary... lol Gary_Fullett the raneg bulds cause for the next pending move Gary_Fullett naw u r smart Gary_Fullett i appreciate that Gary_Fullett u r learning Gary_Fullett i hope ai am able to provide some help Gary_Fullett so buyign an ove rbouhgt Anna working on it just a few more bugies to go. Gary_Fullett or selling over sold is dangeous Ory always do Gary Gary_Fullett I like good traders Gary_Fullett and thoe who wnat to learn Gary_Fullett i like towork with them makes me happy Gary_Fullett so it is a rosk to be long when ove rbought Gary_Fullett because u cna have a sharp correction any times Gary_Fullett from any where Gary_Fullett any q on bonds? Ory so true Gary_Fullett cattle Gary_Fullett what do u see here? Gary_Fullett and why did i make the comment i did? Ory oh yea UT Anna ST Gary_Fullett isnt this classical upthrust? Ory very Gary_Fullett look closely Gary_Fullett anyhtigu think amiss here? Randy need follow through down Brian_O what was bar 8 days ago, where it gapped up? Mr_Steve mid close below creek Gary_Fullett what do u eman what was that bar? Gary_Fullett folow thru down is imp Gary_Fullett but what else Gary_Fullett it has to do with volume hint Song is this similar to es yesterday and today? just one is on ice, one is on creek Randy effort vs result Randy large range bar but volume did not match Gary_Fullett well the es was mid rnage Gary_Fullett and at a channel Gary_Fullett this snt Gary_Fullett if an upthrust where was the selling? Brian_O probably like to see the close lower Gary_Fullett so this means that we will probbaly have a retest today of the highs Brian_O and the vol higher Gary_Fullett to cehck demand Song thanks Gary_Fullett so the lighter vlume Gary_Fullett means what? Gary_Fullett a retest to check for emand and or supply Brian_O no supply Gary_Fullett so a rtest of the highs to see what that bar represents Ory good point Gary_Fullett the lihgt volume tells u to watch for a retest Gary_Fullett if on high volue wold be supply Gary_Fullett where do we get supply Gary_Fullett from highe rlevels PiggyBack left. Gary_Fullett on retets Anna yes Gary_Fullett so the light volume spring ahoudl lead to a retest of the high Brian_O you wouldn't expect some type of retest if supply had come in here on a wide range? Gary_Fullett s to see if supply Gary_Fullett if supply Gary_Fullett i would epxct mark down and follow thru Gary_Fullett i will send this chart for the newsltter tonight to show todays ACTION larryg left. Gary_Fullett understand why the retest? Brian_O so to clarify, an upthrust on low vol leads you to expect a retest of some type and hihg vol leads you to expect follow thru w/ no retest? Song because of no decision yet? Gary_Fullett corect brian Brian_O because supply needs to prove itself in an uptrend Gary_Fullett yes :) Brian_O and it hasn't done that yet Gary_Fullett by george u got it Brian_O do I get half commission? Gary_Fullett well in the newsltter w ewill see Gary_Fullett u will, see ti in the newsltte with comments Gary_Fullett yes u do brian Gary_Fullett i will make a note of it Anna Ya Betcha' Gary_Fullett :) Brian_O as far as 8 days ago what does that represent to you? Gapped up above creek on high vol Gary_Fullett sarah or anna? Anna Anna !! Gary_Fullett was some type of demand Anna :) Gary_Fullett ok just checking Gary_Fullett we ave aporkie in the room s if u put lipstick on a pig its still a pig Brian_O lower close, higher relative vol but not as wide range as you might expect. Result does not match effort? Gary_Fullett whats that? Gary_Fullett todays action? Brian_O no, 8 days ago Gary_Fullett aHH Gary_Fullett the retest of creek Brian_O sorry, you were in another conversation, my bad Gary_Fullett be mind ful Gary_Fullett that the gap is part of the true range Brian_O Ok , good pt Gary_Fullett very im[ Gary_Fullett corn Brian_O so it was a wide range day Gary_Fullett yes Gary_Fullett what do u see in corn Gary_Fullett u see a wide abr Gary_Fullett high volme Brian_O retest of what you've got labeled as stopping action bar Gary_Fullett so we have some stoping action Anna can we call it Probing? Gary_Fullett correct Brian_O would you mark the high and close of that bar? Gary_Fullett u can anna and would be correct Gary_Fullett are u sneaking wyckof knowledge on me anna Gary_Fullett cheaitng on me lol Gary_Fullett i would expect a retest to that bar posisbly Anna lol silly Gary_Fullett so after the wid ebar Gary_Fullett stoping action Gary_Fullett we knw we get a retest Gary_Fullett 5 bars later Gary_Fullett agaisn stopping action Gary_Fullett so now if we see the retes on light volume Gary_Fullett we can set up a sell Gary_Fullett so onc eu ahve potitail stopping action Gary_Fullett the retest is key Gary_Fullett the retst will tell u if a porbe t go highe ror ending action Brian_O are you referring to the 2nd stopping action bar as retest or another potential retest? Gary_Fullett the first one Gary_Fullett and the secnd one was on smilar volume Brian_O would the initial target be the former creek which is now ice? Gary_Fullett so will se e if that stpping acion becomes supply Gary_Fullett 380 Gary_Fullett correct on target Brian_O 380 as final target? Anna If CM is talking on the first one. Then the second would also be the Clue? Gary_Fullett correct Gary_Fullett corect Gary_Fullett we tend to always get a retest Gary_Fullett alwasy look for retest they tell a story base don cause Mr_Steve Question Gary Gary_Fullett if the high pribe wa sstoppng action Gary_Fullett the retest will be on lghter voluem telling u a lack of demand Gary_Fullett please mr steve Mr_Steve Give me your openion on index, such as Dow, nas, etc Mr_Steve Do they retest as well? Mr_Steve and as accurently? Gary_Fullett the tend to make v bottoms and v tops Gary_Fullett but ll markts tend to retest Janet left. Mr_Steve ty Gary_Fullett so tradign the retest Gary_Fullett \ is at the danger zone is a poper low risk trade Gary_Fullett proper Gary_Fullett because u parameters Mr_Steve ty Gary_Fullett yw Gary_Fullett q on corn YG ty Gary YG left. Gary_Fullett ng Gary_Fullett what do u see ? Brian_O no demand bars at ice tonyw retest of ice Brian_O absorption? Gary_Fullett well we are at support Gary_Fullett but no reaction Gary_Fullett so we need to react Anna spring Gary_Fullett so we have no demand Gary_Fullett either we must spring Gary_Fullett or will ahve mark down Gary_Fullett what do u notice? Gary_Fullett volume dried up Brian_O bearish implications since it was in a downtrend w/in the trading range? Gary_Fullett but we came form selling Gary_Fullett a wider bar down side Gary_Fullett sio selling is present Gary_Fullett so the market needs demand form suport Gary_Fullett ofr will fall thru the ice Gary_Fullett yes brian Brian_O would this type of action lead you to possibly take a small short position or would you wait for the break and retest? Gary_Fullett u have a retest of supprt Gary_Fullett but at suypport what do u ned to see from bulls? Gary_Fullett u must wait for a breaking of the ice Gary_Fullett then sell the retest not here Gary_Fullett so watch this chart Gary_Fullett so u knw what ot look for Gary_Fullett any q? roger left. Gary_Fullett quiz Gary_Fullett what do u see joe_s left. Gary_Fullett the quiizes on the newltter l are so important andv ital Randy possible spring, but no reaction or follow throught Gary_Fullett u have a arge bar Gary_Fullett in may Gary_Fullett and the wide bar Gary_Fullett 2 bars from the end Brian_O descending triange since May 6th, increased vol at end of June to retest ice, looks weak to me Gary_Fullett large vlume tonyw very high volume and close off low indicate stopping action Anna VOB keep in mind I look at the left side frirst. Brian_O huge vol but weak close Gary_Fullett von not really due to the close Gary_Fullett vob would ahve abetter close Gary_Fullett but u have the right direction so good Song are there two supply bar Gary_Fullett so wh is bearish/'.? Gary_Fullett the ide range high volue doesnt bother u for supply/ Brian_O 2 bars ago Brian_O I wouldn't want to be long Gary_Fullett effort vs result Gary_Fullett HIGH volume Gary_Fullett u didnt take out suport Gary_Fullett so price didnt match bar action Gary_Fullett look at thr may 6th lows Gary_Fullett very very larg range Gary_Fullett high volujme Gary_Fullett thsk range is smalle rwith high volume Gary_Fullett Stopping action Brian_O should I be looking ahead? Gary_Fullett go to page 2 Gary_Fullett the tradign range and page 3 Gary_Fullett go to page 3 Mr_Steve Thanks Gary Mr_Steve left. Gary_Fullett stopping action Gary_Fullett effort vs result Gary_Fullett comapre the ranges Gary_Fullett may 6th Gary_Fullett to the 2nd to alst bar Gary_Fullett see this? Brian_O y Ory y rich but retest should be on lighter volume, Gary? Gary_Fullett if supply to dry up yes rich Gary_Fullett BUT Gary_Fullett u can bootom by bag holding Gary_Fullett funds and pecs sell Gary_Fullett who buys ?> tonyw left. Gary_Fullett who buys all that lare volume? Dmitry CM Anna Wyckoff Brian_O cm Gary_Fullett large Song good point Ory cm Gary_Fullett if there was hihg volume we cna assume selling right Gary_Fullett the cm buys support sells resiatnce if the cm sold Dmitry in theotry bag holding is high volume and less price progress? Gary_Fullett u would have collapsped Gary_Fullett u held on HIGH volume Gary_Fullett strong ahnds BOUGHT Gary_Fullett yes dmitry Gary_Fullett someon wa sbuying tha selling volume Dmitry so in fact it is more like stopping action than bag holding Gary_Fullett its both Gary_Fullett they ar ebuyignthe sells Gary_Fullett holdign the market up Gary_Fullett and that mewans stpping action Gary_Fullett any q on this? Song so you mean the down move is actually controlled Gary_Fullett yes Gary_Fullett funds and spcs sold Brian_O great exercise, thanx Gary_Fullett who biught Gary_Fullett u cna clearly see this Dmitry Big Stuff, Gary! Thanks!!!!! Gary_Fullett its in the newsltter i give th e quizzes they are imp to learn Gary_Fullett ty Gary_Fullett okay i did 2 webnars class today and i nee dto do charts Song thanks a lot Gary_Fullett so thank you se u tommorw with amos or the day session Gary_Fullett ty ty ty Anna TY Gary Nite all Brian_O great evening to your and thanx for everything Gary_Fullett appreciate it folks keep up the great work Gary_Fullett i will always share ty Song good night Ory n Gary Gary_Fullett good nght Brian_O left. Anna left. Gary_Fullett ty anna smartie Gary_Fullett left.