Comparing the current market to Wyckoff's Markdown phase
Using descriptions from Investopedia, I have attempted to match current market phases to the phases described by Wyckoff.
One failing here is that I fully expect a return to 25,500 or even 28,000 before we fall to the accumulation phase, but I cannot match such a high price rise to Wyckoff theory. I did include it at first, and just called it a correction, but it didn't look right at all!
Whether we revisit levels above 25,000 or not, there seems to be a strong case for us to set up an accumulation phase in the range 10,350 to around 15,000 over the coming months.
I am still a beginner at studying Wyckoff theory and so would welcome constructive criticism in the comments, thank you!
One failing here is that I fully expect a return to 25,500 or even 28,000 before we fall to the accumulation phase, but I cannot match such a high price rise to Wyckoff theory. I did include it at first, and just called it a correction, but it didn't look right at all!
Whether we revisit levels above 25,000 or not, there seems to be a strong case for us to set up an accumulation phase in the range 10,350 to around 15,000 over the coming months.
I am still a beginner at studying Wyckoff theory and so would welcome constructive criticism in the comments, thank you!