Homework Assignment: Home assignment #1 – Solution slide 1

1. Identify Wyckoff events

HD - Daily
2. Identify Wyckoff phases
3. Identify Changes of Character
Distribution Major SOS
|A| |B| |C|

UTAD
BC
Major BU

Minor SOS
AR

AR
Phase |D|

|C|
Major SOS ST
LPS LPS
Accumulation SC

ST ST
Phase |A| Phase |B| |C|

Minor SOS Phase |A| Phase |B| Phase |C| Phase |D|

AR Minor SOS Major BU Re-Accumulation

LPS

ST

SC STs LPS

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 Homework Assignment: Home assignment #1 – slide 2
1. Identify Wyckoff events
HD - Daily MSOS
2. Identify Wyckoff phases
3. Identify Changes of Character Major SOS
ST
BC
UA as a Minor SOS
BU

BC
LPS
Accumulation AR

Phase |A| Phase |B| |C| |D|

|A| Phase |B| |C| |D|

Re-Accumulation
SOS AR ST
Spring + Test
Minor SOS
BU Phase |A| Phase |B| Phase |C| Phase |D|

AR Re-Accumulation

LPS

ST

SC
ST

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 Homework Assignment: |B|
|C| |D| Home assignment #1 – Solution slide 3
|A| UTAD
HD - Daily 1. Identify Wyckoff events
2. Identify Wyckoff phases ST
BC
3. Identify Changes of Character Major SOS

LPSY

ST AR
AR

Distribution
Major BU
SOW

LPS
ST

Re-Accumulation LPS

|D|
SC LPS
Phase |A| Phase |B| Phase |C|

BC SOW
BU
|A| |B| |C| Phase |D|
AR

Re-Accumulation
LPS
LPS
ST
ST

SC
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.

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 Homework Assignment: Home assignment #1 – Solution slide 4
HD - Daily 1. Identify Wyckoff events
2. Identify Wyckoff phases
3. Identify Changes of Character

Re-Accumulation

BC Major SOS

Minor SOSs
UA
AR

LPS

SC ST

Phase |A| Phase |B| |C| Phase |D|

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 Homework Assignment: Home assignment #1 – Solution slide 5
HD - Weekly 1. Identify Wyckoff events
2. Identify Wyckoff phases
3. Identify Changes of Character Major SOS
UA SOS
BC
ST

Phase |A| Phase |B| Phase |C| Phase |D|

UA LPS

AR AR LPS

|A| |B| |C| |D|

LPS
LPS Re-Accumulation
ST
ST Major BU

ST
SC
Re-Accumulation

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 Homework Assignment: Home assignment #1 – Solution slide 6
HD - Daily 1. Identify Wyckoff events
2. Identify Wyckoff phases Major SOS

3. Identify Changes of Character

BC Major BU
ST

LPS

Re-Accumulation ST
LPS
|A| |D| AR
|B| |C|

MSOS Phase |A| Phase |B| Phase |C| Phase |D|

AR
Re-Accumulation

BU

ST

SC

Spring

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 UTAD + Test HOMEWORK: Examples of distribution
ELY BC ST
LPSY
LPSY

LPSY

AR
Minor SOSs Major SOW Late Institutional Capitulation

Phase |A| Phase |B| |C| Phase |D|

I only saw one thrust above TR, was not sure if UT and UTAD are both
required to go above TR.
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 ?

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HOMEWORK: Examples of distribution UTAD + Test

NFLX ST as UT

BC ST
LPSY

STs
Major SOW
AR
Late Institutional Capitulation

Phase |A| Phase |B| |C| Phase |D|

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 UTAD + Test HOMEWORK: Examples of distribution
AAPL

BC

ST
LPSY

LPSY
AR
STs

Accumulation
Minor SOW AR
Major SOW
UA

Phase |A| Phase |B| |C| Phase |D|

SC
ST
Phase |A|

Early Institutional Distribution into Institutional Distribution on Late Institutional Phase |B|
weak hands’ strength – Phase |A| the way down – Phase |D| Capitulation – Phase |E| ST as
SOW

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 BC |C|
HOMEWORK: Examples of distribution
$COMPX
LPSY UTAD + LPSY as Test

AR
AR

MSOW
LPSY

Phase |C|

ST AR LPSY
SC
ST as SOW

Phase |A| Phase |B| Phase |C| Phase |D|

SC

ST as SOW

Isn’t the 1st AR too small to be considered an AR? It is not bigger than the reactions preceding it.
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.
Urgent Institutional Institutional Distribution on Late Institutional
Can a ST in Phase A be lower than SC level? Distribution in Phase |A| the way down – Phase |D| Capitulation – Phase |E|

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 HOMEWORK: Examples of distribution

Urgent Institutional Institutional Distribution on

Distribution in Phase |A| the way down – Phase |D| Late Institutional
Capitulation – Phase |E|
Late Institutional Capitulation

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 MSFT #1

Phase |D|
|C|
Phase |C| MSOS
UTAD Phase |B|

UTA
Major BU
BC
|A| AR

(AR)

Test = LPS
ST
ST
AR ST
Attempt to Spring
HL = LPS

SC ST

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 MSFT #2

MSOS

ST
BC
Major BU

LPS
ST
|C| AR
Spring
UTAD
|D|
BC ST
MSOS
LPSY |C| Phase |A| Phase |B| Phase |C| Phase |D|
|B|
|A|
UTA BU
AR
SOW AR

PS

ST LPS
SC

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 MSFT #3
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?

MSOS

BU
UTA
ST

BC
BU

LPS

ST Test=LPS
Test=LPS

Spring

Phase |C| Phase |D|

AR
Phase |B|
Phase |A|

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 MSFT #4

BC

Attempt to Upthrust MSOS

ST

BU

AR

ST as mSOW
Spring + Test

Phase |A| Phase |B| |C| Phase |D|

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 MSFT #5

MSOS
BC
ST
UTA
MBU

AR
ST

Phase |A| ST

|A| Spring Phase |D|

|B| Phase |B|
|C|
|D|
Phase |C|

Spring + Test

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 MSFT #6

UTAD + Test

LPSY

ST
BC

PSY

mSOW

Phase |C| Phase |D|

Phase |B|
AR

Phase |A|
|A| |B| |D|
UTA

SC

Spring

|C|

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 MSFT #7

|C|

UTAD

|B|
|A|

BC UTA MSOS
LPSY
AR mSOS
BU

AR

SOW

LPS TR

ST
ST

SC ST Spring

Phase |A| Phase |B| Phase |C| Phase |D|

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 Homework Exercise #4: AAPL -1

CHoCH CHoCH zone

Major SOS BC
LPSY

Upthrust Action (UA)

BC
ST
BC FUT
LPSY
ST
Overbought
UTAD UA FUA SOS
MSOS AR
AR
UT Institutional
ST
AR
AR
mSOS
ST
BU VALUE zone

AR Spring
ST MBU SC ST
Spring Oversold
SC ST
ST as SOW Major LPS Area
SC
ST LPS

Spring + Test

Phase |A| Phase |B| Phase |C| Phase |D|

Institutional Value
Buying on short- Institutional Trend Following
Institutional term Liquidity and Accumulation on the way up
Accumulation on long-term Value
the way up

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 BC |C| Homework Exercise #4: AAPL - 2
Failed UT = ST
Failed UT = LPSY

Phase |C|
LPSY
ST Overbought
UTAD
|C|
Weak Hands UT
VALUE zone
LPSY MSOS
LPSY
Oversold

AR ST
MSOW AR
|A| Phase |B| |C| mSOS

mSOS

AR Major BU
ST
Minor BU
ST
Overbought
SC
Institutional ST
VALUE zone
LPS
Oversold
SC

ST as SOW LPS

Institutional Urgent Institutional Accumulation on the way up

Buying on
Urgent Institutional Liquidity
Distribution in Phase |A| Institutional Distribution off the top
Late Institutional Capitulation and on the way down – Phases |C + D|

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 UTAD |D| Homework Exercise #4: AAPL - 3
|C|
Phase |B|
UT
LPSY
|A|
UTAD
LPSY
Overbought
BC
UTs
ST
LPSY
Weak Hands
AR VALUE zone
MSOW
Oversold
AR ST Minor SOW
Minor SOW
SC
Question: Why such a big gap?
Phase |A| Phase |B| |C| |D|

CHoCH CHoCH

Late Institutional
Capitulation/Liquidation

Early Institutional
Distribution into weak
hands’ strength –
Phase |A + early B|
Institutional Distribution on
the way down – Phase |D|

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 Homework Exercise #4: AAPL -4

CHoCH CHoCH zone

Phase|A|
Phase |A| Phase|B|
Phase |B| Phase |C| Phase |D|

UA Failed UA Area Major SOS

Overbought
Minor SOS
AR Major BU
Institutional
VALUE zone
Minor BU / LPS
SOS Bar
Oversold ST LPS

ST
SC
SC

Spring trading Range

Urgent Institutional
Institutional Value Buying on short- Institutional Trend Following
Accumulation on the way up
term Liquidity and long-term Value Accumulation on the way up

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 Homework Exercise #4: AAPL -5
MSOS

ST as UA mSOS

BU
BC Institutional
VALUE zone
Institutional
CHoCH CHoCH VALUE zone

Phase |B| |C| |D| LPS

|A|

MSOS
MSOS AR
ST as SOW

UA
UA Phase
Phase|A|
|A| Phase
Phase|B|
|B| Phase
Phase|C|
|C| Phase |D|

UA
CHoCH CHoCH Zone
AR BU

SOS Bar Institutional

VALUE zone

ST
ST
SC
SC
ST
STas
asSOW
SOW ST
ST

Spring
Spring
Institutional Value Buying
on short-term Liquidity
and long-term Value Institutional Value Urgent Institutional Institutional Trend Following Accumulation
Buying on short- Accumulation on the way up on the way up
term Liquidity and
long-term Value

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 Homework Exercise #4: AAPL -6

MSOS
ST as UA
mSOS

CHoCH BC BU

BC Phase |A|
LPS
CHoCH
Phase |B| STs Institutional
|C| |D|
VALUE zone
ST UA
AR
MSOS
Phase |A| Phase |B| |C| |D|

CHoCH CHoCH
Institutional
AR BU VALUE zone

ST as SOW

Spring
Institutional
Accumulation off
the bottom Institutional Accumulation
off the bottom
Institutional Institutional Trend Following Accumulation
Accumulation on on the way up
the way down

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 UTAD Homework Exercise #4: AAPL -7
UT
BC BC
ST

FUT UT Attempt = LPSY + Test

LPSY

LPSY
AR

MSOW
LPSY
AR
|A| Minor SOW
|A| |B| |C| |D|
Phase |B|
|C|
CHoCH CHoCH
Major SOW

|D|

Early Institutional
Distribution into weak
hands’ strength – Late Institutional
Phase |A | Capitulation/Liquidation

Late Institutional
Capitulation/Liquidation

Institutional Distribution off the top – Phase |D|

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 Homework Exercise #4: AAPL -8

CHoCH CHoCH

Phase |A| Phase |B| |C| |D|

AR

MSOS

mSOS

BU

Institutional
VALUE zone
ST

SC
ST as SOW LPS

Institutional Accumulation on the way Spring attempt

down and at ST Liquidity and LT Value

Inactive CO Signature:
Active Institutional Accumulation in Phases |A + early B|
No more Institutional Buying

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 Homework Exercise #4: AAPL -9
MSOS
MSOS UA UA

BC
mBU
ST

UA FUA LPS
FUA
BC+AR Institutional
LPS VALUE zone
AR ST as mSOW

Phase |A| Phase |B| |C| |D| |A| Phase |B| |C| |D|
Shakeout + ST
STs as SOW
MSOS
Spring
UA
Institutional
BC
VALUE zone Phase |A| Phase |B| |C| |D| Major Back Up Trading Range
AR
BU

Institutional
STs VALUE zone
ST
LPS
Shakeout

Institutional Value
Buying on short-term Institutional Trend
Liquidity and long- Following Accumulation
term Value on the way up Institutional Value Buying on short-term Institutional Value Buying on short-
Institutional
Liquidity and long-term Value term Liquidity and long-term Value
Accumulation on
the way down

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 UTAD + Test Homework Exercise #4: AAPL -10

BC

ST Overbought
LPSY
Weak Hands
VALUE zone
LPSY
Oversold Phase |D|
AR
STs MSOS
Phase |A|

Minor SOW AR Phase |B|

Major SOW
UA
Phase |A| Phase |B| |C| Phase |D| |C|

Institutional
VALUE zone BU

SC

Late Institutional ST
Early Institutional Capitulation – Phase |E|
Distribution into
weak hands’ strength Institutional Distribution on Institutional Value Buying on short-
– Phase |A| the way down – Phase |D| term Liquidity and long-term Value ST as SOW LPS

Institutional
Institutional Institutional Trend Accumulation on
Accumulation on Following Accumulation short-term value
the way down on the way up and liquidity

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 |A| Phase |B| |C| |D| Homework Exercise #4: AAPL -11
UT FUT = LPSY
BC
ST
|A| Phase |B| Phase |C| Phase |D|
UA

Weak Hands
VALUE zone LPSY
STs
AR UA
mSOW
AR

MSOW
MSOS

Institutional
ST ST Institutional VALUE zone
VALUE zone

Late Institutional
Capitulation – Phase |E|

Institutional Value Buying on short-

term Liquidity and long-term Value UA

Institutional
VALUE zone
SC / Shakeout

ST as SOW LPS

Institutional
Early Institutional Distribution on the way Institutional Value Institutional Trend
Distribution into down – Phase |D| Buying on short- Institutional Value Following Accumulation
weak hands’ term Liquidity and Buying on short- on the way up
strength – Phase long-term Value term Liquidity and Institutional
|A| long-term Value Accumulation on
short-term value
and liquidity

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