Wyckoff Power Charting

Bruce Fraser
About the author: , an industry-leading "Wyckoffian", began teaching graduate-level courses at Golden Gate University (GGU) in 1987. Working closely with the late Dr. Henry "Hank" Pruden, Bruce developed curriculum for and taught many courses in GGU's Technical Market Analysis Graduate Certificate Program, including Technical Analysis of Securities, Business Cycle Analysis and the Wyckoff Method. For nearly three decades, he co-taught Wyckoff Method courses with Dr. Pruden, and has also used this approach to the markets as the foundation of his own trading for over 35 years. Learn More

Latest Posts

Wyckoff Power Charting

$COMPQ Up Close

by Bruce Fraser

The NASDAQ Composite ($COMPQ) has consolidated since early June. Two very prominent Buying Climax peaks arrived, one in June and the next in late July. They are labeled on the vertical chart and the Point and Figure chart. This has slowed the advance of the $COMPQ to a crawl. Meanwhile two well formed Reaccumulation structures have developed. Which generally means they can be evaluated and Point and Figure counts taken. Currently the NASDAQ Composite has returned to the July 27th BCLX peak. This Resistance level is in force and holding the index back. Provided that it can break out, there Read More 

Wyckoff Power Charting

Dr. Henry O. (Hank) Pruden 1936-2017

by Bruce Fraser

Technical analysis education suffered a great loss with the recent passing of Dr. Henry O. (Hank) Pruden. A consummate educator, in 1976, Hank combined his incredible capacity for inspiring students with his personal passion for Technical Market Analysis. The result was the very first graduate course, at an accredited university, in the study of markets using chart analysis. Dr. Zahn, Dean of the Business School at Golden Gate University in San Francisco, said ‘Let the Market Decide’ when Hank proposed this innovative new graduate course. Hank’s electric teaching style and unique Read More 

Wyckoff Power Charting

Working up WDAY

by Bruce Fraser

The Wyckoff Method is well suited to the concept of campaigning stocks. When a campaign works, a stock may be held for months to years while participating in a major uptrend. Mr. Wyckoff’s goal was to hold the campaign stock until the chart (tape) indicated selling by the large informed interests (Composite Operator).  In this post, we will study the elements that go into identifying an emerging campaign. The idea of conducting a campaign is to get onboard an emerging uptrend and then to stay on it while the tape suggests the trend is rising. Here we will look for the elements of a Read More 

Wyckoff Power Charting

Transports Hit the Wall

by Bruce Fraser

The ‘Dow Theory’ involves the study and comparison of the Dow Jones Industrial Average and the Dow Jones Transportation Average. When both averages are in ‘lockstep’ in a major uptrend, the market is said to be in a Bull Market. When both are in a downtrend, a bear market is in force. For more on the history and use of the Dow Theory take a minute to read the post ‘How Now Charles Dow? (click here for a link). The Dow Jones Transportation Average ($TRAN) is often a leading indicator and can tend to turn prior to the Dow Jones Industrial Average ($INDU).  The Read More 

Wyckoff Power Charting

Range Bound NDX

by Bruce Fraser

Mr. Wyckoff called his charting methodology ‘Tape Reading’. Determining the present position and probable future direction of prices from their own action. Prices have tendencies which can be detected on the charts. Context is the idea that recent price action will provide clues about what to expect next. This is at the core of how to use and profit from the Wyckoff Method. In our Market Outlook and Stocks Review webinars (Wednesday 3pm PDT), Roman and I work with our attendees to develop mastery around anticipating the tendencies of the markets. One of the most valuable mastery skills is Read More 

Wyckoff Power Charting

Wyckoff the International Language

by Bruce Fraser

Golden Gate University’s technical analysis courses are in demand from students around the globe. The Wyckoff classes that Dr. Pruden and I teach welcomes students from many countries. These students, applying the Wyckoff Methodology, present stock case studies to the class. Often the international students highlight stocks listed on their home country exchange. It becomes evident to the entire class that all auction markets, everywhere, are subject to the principles of the Wyckoff Method. The Composite Operator (CO) influences that produce the effects of Accumulation, Markup Read More 

Wyckoff Power Charting

A Dollar for Your Thoughts

by Bruce Fraser

The dollar has been sinking since the end of 2016. Recently there has been much attention and commentary from the financial community on the impact of this weakness. A falling dollar typically helps U.S. exporters by lowering the price of their goods in world markets. A lower dollar imports inflation by raising the price of the many goods manufactured overseas and sold in the U.S. Rising inflation can have an effect on the level of interest rates. These effects typically manifest over many months, and sometimes years of currency weakness. If there is a change in the winds for the currency Read More 

Wyckoff Power Charting

Campaigning Gold

by Bruce Fraser

The Wyckoff Method is designed for the campaign oriented trader. Discipline, patience and vision are the skills required to conduct a bull or bear campaign from start to finish. Wyckoff provides outstanding tools for executing on such a trading orientation. Point and Figure offers a technique for estimating the extent of a price move. Trendline analysis has unique methods for examining and gauging the quality of the unfolding trend. Accumulation and Distribution analysis helps to determine the readiness of price to emerge into a fresh new uptrend or downtrend. Combining these skills makes Read More 

Wyckoff Power Charting

The Hustling Russell

by Bruce Fraser

Wyckoffians need to stay flexible and be willing to change their minds. It is an acquired skill to re-analyze charts with fresh eyes. We should practice this each day. Recently we studied the mid-capitalization and the small-capitalization indexes (click here for a link to the post). Here let’s re-analyze the Russell 2000, with fresh eyes. These smaller-cap index uptrends stopped in December 2016. Meanwhile large-cap growth stocks have enjoyed stellar performance in 2017. The advent of a weak dollar and emerging leadership of international stocks suggest a new rotation Read More 

Wyckoff Power Charting

Point & Figure Diary

by Bruce Fraser

Regular readers have been following the epic saga dating back to 2011, when Dr. Hank Pruden published his Point and Figure (PnF) count for the new bull market. This count projected to a range of 17,600 to 19,200 for the Dow Jones Industrial Average ($INDU).  When this objective was met we said: ‘But wait, there is more’. Almost exactly a year ago, in this blog, we revisited the original Accumulation and found that an additional count could be added to the PnF price objective.  The 17,600 to 19,200 count was very useful as the $INDU was stopped in this range for more than two Read More 

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