www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. HD - Daily Homework Assignment: 1. Identify Wyckoff events 2. Identify Wyckoff phases 3. Identify Changes of Character Home assignment #1 – Solution slide 1 Phase |A| Phase |B| |C| Phase |A| Phase |B| Phase |C| Phase |D| SC AR ST STs Minor SOS Major SOS Major BU Phase |D| LPS LPS |A| |B| |C| Distribution UTAD BC AR Accumulation Re-Accumulation SC AR ST ST LPS LPS |C| ST Minor SOS Major BU Major SOS Minor SOS
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. HD - Daily Homework Assignment: 1. Identify Wyckoff events 2. Identify Wyckoff phases 3. Identify Changes of Character Home assignment #1 – slide 2 |A| Phase |B| Phase |A| Phase |B| Phase |C| Phase |D| SC AR ST ST Minor SOS UA as a Minor SOS |D| Accumulation Re-Accumulation BC AR ST BC Major SOS MSOS Spring + Test |C| LPS SOS BU BU LPS AR ST Phase |A| Phase |B| |C| |D| Re-Accumulation
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. HD - Daily Homework Assignment: 1. Identify Wyckoff events 2. Identify Wyckoff phases 3. Identify Changes of Character Home assignment #1 – Solution slide 3 Phase |A| Phase |B| |A| |B| |C| Phase |D| BC ST |D| Re-Accumulation Re-Accumulation SC AR ST SOW SC ST AR Phase |C| LPS LPS BU |C| |A| |B| Distribution UTAD BC AR ST ST |D| SOW LPSY Major BU LPS Major SOS LPS LPS In re-accumulation, after buying climax what is the difference between a shakeout and an automatic reaction? On the slide that shows alternative reaccumulation types, they were a little confusing.
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. HD - Daily Homework Assignment: 1. Identify Wyckoff events 2. Identify Wyckoff phases 3. Identify Changes of Character Home assignment #1 – Solution slide 4 Phase |A| Phase |B| |C| Phase |D| BC ST UA Minor SOSs Re-Accumulation SC Major SOS LPS AR
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. HD - Weekly Homework Assignment: 1. Identify Wyckoff events 2. Identify Wyckoff phases 3. Identify Changes of Character Home assignment #1 – Solution slide 5 Phase |A| Phase |B| AR Major SOS SC ST ST ST |A| |B| |C| Phase |C| Phase |D| Major BU |D| Re-Accumulation LPS LPS BC SOS LPS ST AR UA LPS Re-Accumulation UA
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. HD - Daily Homework Assignment: 1. Identify Wyckoff events 2. Identify Wyckoff phases 3. Identify Changes of Character Home assignment #1 – Solution slide 6 |A| |B| |C| Phase |A| Phase |B| Phase |C| Phase |D| SC Spring MSOS |D| Re-Accumulation Re-Accumulation BC AR ST AR ST BU ST Major BU Major SOS LPS LPS
HOMEWORK: Examples of distribution www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. ELY Phase |A| Phase |B| |C| BC AR Major SOW LPSY Phase |D| UTAD + Test Minor SOSs ST LPSY LPSY Late Institutional Capitulation Phase |A| Phase |B| BC AR Major SOW UTAD + Test Minor SOSs ST LPSY In Phase A, does the AR have to be equal to or lower than the PSY? Does the first ST have to be equal or lower than BC? In real time would this area be labelled as Re Accumulation with UTAD being SOS (in Phase D) on increasing spread and volume? Can we only confirm distribution on break of support with volume ? I only saw one thrust above TR, was not sure if UT and UTAD are both required to go above TR.
HOMEWORK: Examples of distribution www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. NFLX |C| Phase |D| Late Institutional Capitulation Phase |A| Phase |B| BC AR Major SOW UTAD + Test STs ST LPSY ST as UT Phase |A| Phase |B| |C| BC AR Major SOW UTAD + Test STs ST LPSY ST as UT
HOMEWORK: Examples of distribution www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. AAPL Phase |D| Late Institutional Capitulation – Phase |E| Phase |A| Phase |B| |C| BC AR Major SOW UTAD + Test Minor SOW LPSY STs LPSY ST Phase |A| Phase |B| SC AR Accumulation ST UA ST as SOW Institutional Distribution on the way down – Phase |D| Early Institutional Distribution into weak hands’ strength – Phase |A|
HOMEWORK: Examples of distribution www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. $COMPX Phase |A| Phase |B| Phase |C| Phase |D| BC AR MSOW LPSY UTAD + LPSY as Test LPSY |C| SC AR ST as SOW Urgent Institutional Distribution in Phase |A| ST LPSY Phase |C| SC AR ST as SOW Can a ST in Phase A be lower than SC level? Can a distribution occur without phase B? Some distributions with fewer bars (to my eyes) appear to not have a B but proceed from A to C. Late Institutional Capitulation – Phase |E| Institutional Distribution on the way down – Phase |D| SC AR ST Isn’t the 1st AR too small to be considered an AR? It is not bigger than the reactions preceding it.
HOMEWORK: Examples of distribution www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Urgent Institutional Distribution in Phase |A| Late Institutional Capitulation – Phase |E| Institutional Distribution on the way down – Phase |D| Late Institutional Capitulation
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. MSFT #1 SC ST (AR) |A| Phase |B| UTA MSOS Major BU Attempt to Spring HL = LPS BC AR UTAD |C| AR Test = LPS Phase |D| ST ST ST Phase |C|
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. MSFT #2 SC |A| Phase |B| MSOS BC BC AR UTAD AR Spring Phase |C| Phase |D| LPS ST ST Major BU Phase |A| ST LPS BU MSOS UTA AR PS |C| |B| |D| |C| ST SOW LPSY
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. MSFT #3 Phase |B| MSOS BC AR Spring Phase |C| Phase |D| ST Phase |A| ST Test=LPS Test=LPS LPS BU BU UTA Eric: At what point do you decide to draw an upsloping or downsloping TR? Do you wait for Phase C low? Can you use AR and Phase B lows as in first TR of MSFT#3?
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. MSFT #4 Phase |B| MSOS BC AR BU Phase |D| ST ST as mSOW Phase |A| |C| Spring + Test Attempt to Upthrust
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. MSFT #5 |A| Phase |B| MSOS BC AR Spring Phase |D| Phase |C| ST Phase |A| ST ST |C| |B| |D| MBU UTA Spring + Test
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. MSFT #6 |A| Phase |B| BC AR UTAD + Test Phase |C| Phase |D| SC Phase |A| Spring |C| |B| |D| ST mSOW UTA LPSY PSY
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. MSFT #7 |A| Phase |B| MSOS SC BC AR UTAD AR LPS TR Phase |C| Phase |D| ST mSOS Phase |A| |C| |B| LPSY SOW ST ST UTA Spring BU
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -1 BC Phase |A| Phase |B| Major SOS Institutional Accumulation on the way up Institutional Value Buying on shortterm Liquidity and long-term Value Institutional Trend Following Accumulation on the way up Phase |C| Phase |D| Upthrust Action (UA) Spring + Test ST as SOW CHoCH CHoCH zone Major LPS Area ST AR Spring BC ST FUT LPSY AR ST SC UTAD UT ST AR SC AR ST ST mSOS MSOS MBU LPS SC AR ST FUA ST UA Spring SOS BU BC LPSY Institutional VALUE zone Oversold Overbought
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. BC Homework Exercise #4: AAPL - 2 AR Failed UT = ST ST ST |C| Failed UT = LPSY Late Institutional Capitulation Urgent Institutional Distribution in Phase |A| MSOW LPSY ST as SOW SC AR ST |C| |A| |C| Phase |C| Phase |B| SC AR ST UTAD UT ST LPSY LPSY mSOS MSOS Major BU LPS LPS Minor BU mSOS Urgent Institutional Accumulation on the way up Institutional Distribution off the top and on the way down – Phases |C + D| Institutional Buying on Liquidity Weak Hands VALUE zone Oversold Overbought Institutional VALUE zone Oversold Overbought
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL - 3 BC AR Minor SOW Late Institutional Capitulation/Liquidation MSOW Question: Why such a big gap? |C| |D| CHoCH CHoCH Phase |A| Phase |B| ST LPSY UT UTAD |C| SC AR ST UTAD UTs Minor SOW LPSY |A| Phase |B| LPSY |D| Institutional Distribution on the way down – Phase |D| Early Institutional Distribution into weak hands’ strength – Phase |A + early B| Weak Hands VALUE zone Oversold Overbought
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -4 Spring trading Range SC ST Phase |A| Phase |B| Minor SOS Major SOS LPS Minor BU / LPS Urgent Institutional Accumulation on the way up Institutional Value Buying on shortterm Liquidity and long-term Value Institutional Trend Following Accumulation on the way up Phase |C| Phase |D| Major BU UA Failed UA Area SOS Bar AR ST CHoCH CHoCH zone Institutional VALUE zone Oversold Overbought SC Phase |A| Phase |B|
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -5 ST as SOW Urgent Institutional Accumulation on the way up Institutional Value Buying on short-term Liquidity and long-term Value Institutional Trend Following Accumulation on the way up |C| Phase |D| UA Spring SOS Bar CHoCH CHoCH SC |A| Phase |B| ST |D| BU MSOS ST UA AR Institutional Value Buying on shortterm Liquidity and long-term Value BC ST as UA mSOS MSOS LPS Phase |A| Phase |B| Phase |C| CHoCH CHoCH Zone BU AR ST as SOW Institutional VALUE zone Institutional VALUE zone Institutional VALUE zone ST as SOW UA Spring SC ST MSOS ST Phase |A| Phase |B| Phase |C|
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -6 Institutional Accumulation on the way down Institutional Trend Following Accumulation on the way up |D| CHoCH CHoCH ST as SOW UA BC MSOS AR Phase |A| Phase |B| |C| ST Spring BU Institutional Accumulation off the bottom Institutional Accumulation off the bottom STs mSOS BC MSOS AR ST as UA BU LPS Phase |A| Phase |B| |C| |D| Institutional VALUE zone Institutional VALUE zone CHoCH CHoCH
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -7 BC AR Late Institutional Capitulation/Liquidation |C| |D| CHoCH CHoCH |A| |B| LPSY UT UTAD |C| BC AR UT Attempt = LPSY + Test FUT Minor SOW ST |A| Phase |B| LPSY |D| Institutional Distribution off the top – Phase |D| Early Institutional Distribution into weak hands’ strength – Phase |A | LPSY MSOW Major SOW Late Institutional Capitulation/Liquidation
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -8 Institutional Accumulation on the way down and at ST Liquidity and LT Value |D| CHoCH CHoCH ST as SOW SC MSOS AR Phase |A| Phase |B| |C| ST LPS mSOS Spring attempt BU Inactive CO Signature: Active Institutional Accumulation in Phases |A + early B| No more Institutional Buying Institutional VALUE zone
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -9 Institutional Accumulation on the way down Institutional Value Buying on short-term Liquidity and longterm Value Institutional Trend Following Accumulation on the way up BC Phase |A| Phase |B| |C| |D| AR LPS ST Shakeout BU MSOS UA STs Institutional VALUE zone Institutional VALUE zone Institutional VALUE zone Institutional Value Buying on short-term Liquidity and long-term Value Institutional Value Buying on shortterm Liquidity and long-term Value BC+AR FUA Spring STs as SOW Shakeout + ST MSOS UA BC AR LPS ST mBU MSOS UA FUA ST as mSOW LPS UA Phase |A| Phase |B| |C| |D| |A| Phase |B| |C| |D| Major Back Up Trading Range
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -10 BC AR Major SOW UTAD + Test Minor SOW LPSY STs |C| Phase |D| Phase |A| Phase |B| ST Late Institutional Capitulation – Phase |E| Institutional Distribution on the way down – Phase |D| Early Institutional Distribution into weak hands’ strength – Phase |A| Institutional Accumulation on the way down Institutional Value Buying on shortterm Liquidity and long-term Value Institutional Trend Following Accumulation on the way up SC AR ST UA ST as SOW LPSY LPS MSOS BU |C| Phase |B| Phase |A| Phase |D| Institutional Accumulation on short-term value and liquidity Weak Hands VALUE zone Oversold Overbought Institutional VALUE zone
www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved. Homework Exercise #4: AAPL -11 Institutional Trend Following Accumulation on the way up SC / Shakeout AR ST UA ST as SOW LPS MSOS Institutional Accumulation on short-term value and liquidity ST UA UA Institutional Value Buying on shortterm Liquidity and long-term Value Institutional Value Buying on shortterm Liquidity and long-term Value Institutional VALUE zone Institutional VALUE zone Institutional VALUE zone |A| Phase |B| Phase |C| Phase |D| |A| Phase |B| |C| |D| BC AR FUT = LPSY mSOW STs ST MSOW LPSY UT Late Institutional Capitulation – Phase |E| Institutional Distribution on the way down – Phase |D| Early Institutional Distribution into weak hands’ strength – Phase |A| Institutional Value Buying on shortterm Liquidity and long-term Value Weak Hands VALUE zone