Gary_Fullett joined. joe_s joined. Gary_Fullett good evening Brian_O good evening Gary tonyw joined. Ory Goodevening Gary joe_s good evening Mr_Steve Hi gary Gary_Fullett good evneing BT joined. Gary_Fullett i wanted to so some review of sme nl chats because they say some good things Gary_Fullett i have a great article attached for the new article that is a MUST read Gary_Fullett it will be send in a few hours but it is a great read with wyckoff and u must keep it Gary_Fullett before we begin any questions Gary_Fullett okay es chart Gary_Fullett u cna read the comments i wrote Gary_Fullett about the bearinish of the day today frth comeing Gary_Fullett but there is something that may be subtle Gary_Fullett that u may not of seen with the action farmer joined. Gary_Fullett we had a sideways action Gary_Fullett at the 130 area Gary_Fullett 1130 area Gary_Fullett which look liked like absorption Gary_Fullett but it was resolved by selling Gary_Fullett this selling bar Gary_Fullett is significant Gary_Fullett why? Gary_Fullett because the cm composite man is shwoing his hands Gary_Fullett and the story says lower Gary_Fullett so from that wider bar Gary_Fullett and sleling Gary_Fullett this means that we need ot have stopping down side action and eventual demand. Gary_Fullett understand? Brian_O How was the sideways action showing the cm's hand? I thought we were anticipating a move higher after that action Gary_Fullett any q? Brian_O as absorption Gary_Fullett at the 1130 area looked like absortion Gary_Fullett the wider bar down Gary_Fullett showed sellig Gary_Fullett so showeed lower Brian_O you mean the wide bar down was the cm showing his hand, not the action leadingup to it Gary_Fullett correct Brian_O OK, got it Brian_O just making sure I didn't miss something :) Gary_Fullett the wide bar down Gary_Fullett sorry if i wanst clear Brian_O no prob Brian_O and then the retest represented a selling opportunity Song sorry, which wide bar down recent one? Brian_O ain't hindsight great roger joined. Brian_O 10 bars ago Song Song thanks, Song that is what I thought too Gary_Fullett not hindsight when u see that sellign bat tonyw Gary, Could the stopping down side action and eventual demand show in a single bar? If that is the case, what should the bar look like? Gary_Fullett but until then it looke dlike absortion Gary_Fullett yes tony Gary_Fullett wid ebar high end close Brian_O experience Gary, need more of it Gary_Fullett sugar today may be an exalpe of that Gary_Fullett right brians i cant speed up exp Gary_Fullett but i can Gary_Fullett help wiht examples tonyw Thank you, Gary Gary_Fullett look at oct sugar tonight for a possible eample of that Gary_Fullett so after we have selling Gary_Fullett we watch for any retest higher and judge it Gary_Fullett the reaction high Gary_Fullett after selling MUST be marked Gary_Fullett and it stopped Gary_Fullett at the horizoantal Gary_Fullett line as well see this Randy y Brian_O what is the reasoning/purpose behind the reaction after the selling bar? Gary_Fullett so to tuen back up what do u neeed to see? Gary_Fullett it is where the reaction stps after a counter move Brian_O demand Gary_Fullett so u have a sleling abr Gary_Fullett then short coverinng Gary_Fullett and at the end of the shrt coveirng Gary_Fullett short coverign more mark down Gary_Fullett u judge the quailty of the retest Brian_O short covering by cms? Gary_Fullett if weak thna the breka wasnt a shaeout but selling Gary_Fullett and thus to be sold Gary_Fullett the c will buy support sell resiatnce so yes Gary_Fullett butnot vigourous Gary_Fullett understand? Brian_O y Gary_Fullett good Ory so far Gary_Fullett so what can u say about the quialy of the rlaly after selling? Brian_O relatively low vol w/ low/mid range closes Gary_Fullett tells u what? Brian_O no demand Song lots sellers, not a lot buyers Gary_Fullett yes indeed brian Gary_Fullett lack of dmeand Gary_Fullett not so much alot of sellers Gary_Fullett but a lack of demad on the retest higher Gary_Fullett and then what do u expect? Brian_O w/ weakness in background need demand to change behavior Brian_O expect move lower Gary_Fullett did u get that? Song do we need another test after some time? Brian_O y Kurtiss joined. Gary_Fullett not necesarily song Gary_Fullett so why am i here brian LOL u know it :) Song thanks Brian_O I think we both know the answer to that :) Gary_Fullett yw song Gary_Fullett lol brian Brian_O but I am getting better w/ this instruction, thanks Gary_Fullett good Gary_Fullett my intention Gary_Fullett so we cna see the support area Gary_Fullett and we can look for a test of those areas Kurtiss Hi everyone Gary_Fullett and see if we react Gary_Fullett hi kurtiss Gary_Fullett any q on es Gary_Fullett my fav chart is next Gary_Fullett the 60 min hourly es. Gary_Fullett as most of u know Gary_Fullett i like this chart and i us ethe 60 min hourly bar to help me with direction Ory hourly barometer Brian_O I believe I've asked before but how many days do you find to be most beneficial to show on your 60 min chart? Gary_Fullett about 3-4 days or so Brian_O and that is strictly for day trading? Gary_Fullett i like to sue it bascially for the traidng week or so Brian_O do you hold overnight? Ory but isnt opening hour similar to close Gary_Fullett depends brian Gary_Fullett somtimes Gary_Fullett no the close is differnt Brian_O ty Ory o.k. Gary_Fullett so can u see the trading range Gary_Fullett that we had a wid ebar Mr_Steve chart 2? Gary_Fullett breaking of the ice Gary_Fullett yes Gary_Fullett where i worte weakness Gary_Fullett this breaking of the ice Gary_Fullett lead to amrk down Brian_O was proper Brian_O Wyckoff short trade ydy after close below first hourly bar? Gary_Fullett so w eknow supply and weakness Gary_Fullett the volume was high Gary_Fullett the u got a retest Gary_Fullett not quoite to the borken ic eretest Gary_Fullett which would have been a perfect wyckoff sell Brian_O an ut of broken ice? Gary_Fullett at 1085 would ahve been Brian_O or would that be asking too much? Gary_Fullett its markets anything can happen Brian_O but the 1085 represented a 50% retracement of the supply bar +/- Gary_Fullett ok Brian_O as well as a retest of the broken ice Gary_Fullett but u cna ee that the hourly chart will show weakess before the daily will Gary_Fullett correct brian Gary_Fullett notice w ehad an upthrust Gary_Fullett and 1/2 nack at 107375 area Lady_K left. Kurtiss ok Ory an attempted test that didnt happen Gary_Fullett right Ory and down we go Gary_Fullett any q? Ory count would begin from ice Gary_Fullett the spread i love to waych that i dn t show here alot is the nasdaq- es spread Gary_Fullett a conservaive count yes' Ory thanks gary Brian_O count? Mr_Steve I have yet to find this chart with my broker Gary_Fullett p and figure count Brian_O OK thanks' Ory i have yet to understand spreads Gary_Fullett really steve? Gary_Fullett u cna do the cash Gary_Fullett i will discuss psreads thurday Mr_Steve yes Ory Thanks gary Gary_Fullett yw Gary_Fullett so i believe tha the nas daq market will elad the sotck amrket Gary_Fullett this spread bottomed in nov 207 Gary_Fullett 2008 Ory up or down Gary_Fullett and the dow bottomed in march 2009 Gary_Fullett both directions Ory o.k. Gary_Fullett it leads up and down Gary_Fullett so whats the trned of this spread? Brian_O down Gary_Fullett in tonighs spread chart i take diffetn rtl line Gary_Fullett to show an nice apex Gary_Fullett right Brian_O intermediate term anyway Ory down Mr_Steve I watch amLL Caps on nSDAQ AND S&p for bottom larryg joined. Mr_Steve small Gary_Fullett well maybe thats works Mr steve Ory i watch the numbers on cnbc Mr_Steve Love to find this chart Gary_Fullett to me ts an imp chart Mr_Steve CNBC will mess you up Gary_Fullett but u cna see the down trend happned before the market turned down Gary_Fullett spreads tensd to elad Ory and try to follow the diffferent leading positions Ory no sound Ory only tape Gary_Fullett yes they will mrsteve Gary_Fullett very much so Gary_Fullett any on this Brian_O I like the point about leading or at least providing a heads up Brian_O pretty good visual Gary_Fullett well spreads tend to do that brian Ory one can only seee the action unfold Brian_O I'll look forward to your class on it Gary_Fullett there will be a huge fee for that one lol Gary_Fullett any on ths chart Ory jeeeeese Brian_O doh! Gary_Fullett crb index Gary_Fullett the dow for commodties Gary_Fullett what so u see here Kurtiss range Brian_O trading range after weakness, Ory great point Gary Gary_Fullett very powerful statement brian and u r right kurtis Brian_O looks weak Gary_Fullett so after weaknes sthe trading raneg will yiled to? Kurtiss does type of index have relation to volume Brian_O move lower Gary_Fullett the volume on the crb is nil Kurtiss more weakness if demand doesnt come in Gary_Fullett good Kurtiss roger on the vol Gary_Fullett so u cna se selling in the abck ounrd the trading range is dsitribtion Ory high end closes is about equal to low end Brian_O talk about bare bones chart reading :) Gary_Fullett u like that brian? Brian_O yes, actually Gary_Fullett one bar in that trading range means little Gary_Fullett but the trading raneg tells a story of cuase Ory have to wait for right side of range Gary_Fullett so after weakness Gary_Fullett most like bearish Brian_O how did you determine ice? Kurtiss reaction lows Gary_Fullett a cluster of support bars Gary_Fullett reactiosn lows right Gary_Fullett so more cli=suter lows Gary_Fullett the more cuas ebuilt Kurtiss more cause=more result Gary_Fullett caus eand effet Gary_Fullett longer sie ways more result Gary_Fullett for a move Gary_Fullett q? Kurtiss oh yea, cause and effect, effort and result Gary_Fullett yes. Gary_Fullett any q? Kurtiss no Gary_Fullett good clear? Gary_Fullett corn Gary_Fullett my commments are form te newsleeter Gary_Fullett form yesterdsay Kurtiss waiting for wide bar high vol to joc Gary_Fullett so u cna se that at 439 Gary_Fullett the stoping action Gary_Fullett large volume Gary_Fullett close off the highs Gary_Fullett those 2 bars Gary_Fullett tells us sellers Gary_Fullett when u jump ove rthe creek Gary_Fullett a s we discussed Gary_Fullett we tend to have increased volume and wid ebar Gary_Fullett u have tightr bars Gary_Fullett and fair volume Mr_Steve left. Kurtiss 439? Gary_Fullett sorry i wa shtinging de cprice mikey ya 439 on aug 5 Gary_Fullett 425 on the spet price Gary_Fullett 439 was decemeber Gary_Fullett mikey dec this is spet Gary_Fullett sept Gary_Fullett so this stoping actin at the highs Gary_Fullett and then agian on the retest Gary_Fullett is the composite many sleling longs out mikey no open interest never went down mikey open interest has went up linear since june 30 Gary_Fullett specs and funds were biuuyers Gary_Fullett the c wa slog mikey imo Gary_Fullett and they sold into this rally Gary_Fullett this si why the shakoeut Gary_Fullett with pen interet hghs Gary_Fullett open Gary_Fullett so the stoping abrs Gary_Fullett was a clue that we shpuld retest and we did mikey I know open interest isnt a big part of wychoff though just something i keep track of YG joined. Gary_Fullett but open interst u can see for over bouhgt ove rsold Ory how do you recrd it Gary_Fullett so u r aying that increased open interet is bullish? Gary_Fullett too many longs? mikey no u are right when it gets to high some need shook out mikey short term bearish mikey weak hands need flushed Gary_Fullett ok good my thoughts too Gary_Fullett ty mikey thanks Gary_Fullett any q on corn mikey i notice we are still holding the trendline on corn Ory i,m good thanks Gary_Fullett quiz Gary_Fullett ye smikey Gary_Fullett 410 in dec imp mikey if we break that I think under 4 for a retest then higher mikey yep mikey me interesting to see how much open interst went down today Gary_Fullett options expire friday Gary_Fullett so they wnated to calls to get hit iho Ory options on what Gary mikey to see how many weak hands go out today Brian_O speaking of options expiration, equities that is, do you buy into 'Max Pain' theory? Gary_Fullett corn Gary_Fullett optiosn Gary_Fullett tend to go to the open interest thats the highest Gary_Fullett to screw em both Brian_O thanks Brian_O I'll take that as a 'yes' Brian_O WAG broke ice on high vol w/ follow thru and then weak rally Gary_Fullett yes Gary_Fullett okay brian BT left. Gary_Fullett go on wiht the quiz?? Brian_O that last bar actually looks like a good place to go short roger left. Gary_Fullett why JWC joined. Brian_O retest ice on lower vol w/ lower close off highs Gary_Fullett right compare the volume Gary_Fullett the voluem highe ron the break Gary_Fullett ,the raly Gary_Fullett was on lghter volume Gary_Fullett so wha does this say? Kurtiss lack of demand leads to weakness Ory more down side to go Brian_O 4th attempt to break this level also, higher probability? larryg cm let price go up on light vol to take short position at highs Gary_Fullett kurtiss beczus seling wa sin the abck round Brian_O I like that analysis larryg Gary_Fullett right larry Gary_Fullett because u had slling in the back round Gary_Fullett they cm will sell resistance Gary_Fullett so he will aloow prices to drift Gary_Fullett shrt covering ect Gary_Fullett short Gary_Fullett go to 2nd page Gary_Fullett see this spring Gary_Fullett so does ntat change your mind Randy springs fail in a downtrend and we are in a down tredn PiggyBack joined. Gary_Fullett very veyr good :) Gary_Fullett thre is no voume off the bottom Gary_Fullett ther eis not ending action tonyw No, because the volume was not high and the close was off the high Gary_Fullett the lack of voluem is a lack of demand Gary_Fullett and tyhis poor action larryg seems after spring you should get small bar, light vol retest, but last bar is wide and reacted from 1st resistance Gary_Fullett correct larry Gary_Fullett so good read Gary_Fullett go to page 3 Brian_O how would you describe wide range/Yao Ming vol on June 10? Kurtiss stopping action? Gary_Fullett june 10? Gary_Fullett first week in may? Gary_Fullett which bar? larryg think 6 bars ago Brian_O am I looking at the wrong chart? Gary_Fullett wag chart Brian_O correct larry Brian_O y Ory wag chart Gary_Fullett ahh the 3rd chart Brian_O wasn Gary_Fullett i thoght u looke dat page 2 Brian_O t this the quiz? Gary_Fullett i wa going to ak u Gary_Fullett what do u think tonyw stopping down side action Brian_O I'd say some demand has come in Gary_Fullett possible stoping action Gary_Fullett so what would u say on this chart Gary_Fullett would u buy? Brian_O no, not yet Kurtiss no Kurtiss rally bars low vol larryg not much cause yet larryg no demand which would be needed, then retest of demand Gary_Fullett 'if ending action why not buy? Ory watch for a test Brian_O is the recent action a retest of the 50% level of that bar? larryg could sit here a long time retesting Gary_Fullett wow imimpressed Gary_Fullett ye syes yes tonyw watch for the retest at lower price with less volume Gary_Fullett the market needs at elast a test Kurtiss agree with larry Gary_Fullett lack of cause Gary_Fullett also if this was stoppin action Ory each test would prove to be more bullish Gary_Fullett what owuld tis bar be claled? Gary_Fullett called tonyw VOB Ory SC Brian_O so a move higher on more demand and then a retest of that demand bar? Gary_Fullett yes brians Gary_Fullett tony and ory are wrong Brian_O selling climax? Ory closed on the high Gary_Fullett wat do u need before a selling cliamx? Ory ooooppppppppppppps,,,,,,,,,,,back to charts i go Rix left. Kurtiss preliminary demand Brian_O preliminary demand? tonyw preliminary support larryg pre demand, butr dont always get it Rix joined. Gary_Fullett ye syes yes Gary_Fullett well classiclaly Ory ps Gary_Fullett u should get predemand where the cm talks Gary_Fullett but not all charts are classical Gary_Fullett but u cnat buy ths bar Gary_Fullett and the market shpld retest Gary_Fullett should Ory correct about tests Gary_Fullett so at least a retest Gary_Fullett even if this wa sdemand' Gary_Fullett or stopping action Gary_Fullett good eyes hokah left. Gary_Fullett your knoledge improved Ory mine slowed down Gary_Fullett okay amos tommorw night Gary_Fullett for an hour or so Kurtiss k Gary_Fullett any q? Brian_O great stuff again tonight Gary, thank you Gary_Fullett i have a greta artile for the newsltter tonight Gary_Fullett one of the best artocle written Song thanks a lot and good night larryg ty gary Gary_Fullett i will send the link joe_s thanks Gary you were great as always Gary_Fullett larry u have come a long way Kurtiss Thanks again Gary Gary_Fullett you are great now with wyckoff Ory TY Gary tonyw Thank you very much, Gary, goodnight all Gary_Fullett all are gettign muc beeter larryg :) ways still to go Gary_Fullett tiny joe ect Gary_Fullett ory Gary_Fullett song brian Gary_Fullett alll good Gary_Fullett well keep at i Gary_Fullett we all are elarning joe_s yes larryg indeed Song yes Ory for sure i am Gary_Fullett practice and charts Gary_Fullett will help Gary_Fullett okay going to finsh charts Gary_Fullett see u all tommorw Gary_Fullett ty for yoru time ty Gary_Fullett niht Gary_Fullett left.