Recent Power Charting episodes have been devoted to the classic technique of chart reading innovated by Richard D. Wyckoff. He referred to the method as ‘Tape Reading’ while it is actually the technique of reading charts, bar by bar to assess the likely future direction of an index, stock, bond or futures contract. This price and volume chart reading method is as powerful and relevant as it was a century ago when Mr. Wyckoff was successfully employing it. Using the Case Study approach we utilized at Golden Gate University (GGU), the recent episodes of Power Charting have largely focused on this type of analysis.
The current Power Charting (link below) has a Distribution case study of United Parcel Service (UPS). Mr. Wyckoff integrated Vertical Bar Chart analysis with Point and Figure studies therefore we do the same in this case.
The Wyckoff Community have enthusiastically embraced these studies and have asked for more of them. I am all for it. Chart reading is about the most fun a Wyckoffian can have! This bar by bar analysis of price and volume is a meticulous process that once understood can reap huge rewards. It is a mastery skill. Wyckoffians will study and markup thousands upon thousands of charts, finding their mastery path continuing to ever higher levels. My mission, in these cases, is to support you on your personal market mastery journey.
All the Best,
Bruce
@rdwyckoff
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
Power Charting Video: Tape Reading for Distribution
Video Index
00:00 Intro
02:03 New StockCharts Index Members Page
10:43 Pruden Model – Distribution Definitions
11:30 Wyckoff Rules
11:43 Long Term Weekly Chart (UPS)
14:00 Point & Figure Big Picture (UPS)
15:18 Tape Reading Action (UPS)
21:54 Point & Figure (UPS)
Reference to Wyckoff Distribution definitions: CLICK HERE
Bruce Fraser, 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, he developed curriculum for and taught many courses in GGU’s Technical Market Analysis Graduate Certificate Program, including Technical Analysis of Securities, Strategy and Implementation, Business Cycle Analysis and the Wyckoff Method. For nearly three decades, he co-taught Wyckoff Method courses with Dr.
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