July 2011
Intermediate to advanced
224 pages
4h 56m
English
book
Mastering Market Timing: Using the Works of L.M. Lowry and R.D. Wyckoff to Identify Key Market Turning Points
by Richard A. Dickson, Tracy L. Knudsen
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7. Identifying Major Market Tops and Bottoms: Other Tools to Consider
A basic tenet of virtually any analytical technique is the more evidence that points to a conclusion, the more likely that conclusion will be valid. In general terms, this is called the weight of evidence and applies equally to an examination of market conditions.
Thus far, we have discussed using the Wyckoff laws of Supply and Demand and Effort vs. Result in helping identify market tops and bottoms, together with Lowry’s application of the Law of Supply and Demand through the Buying Power and Selling Pressure Indexes. We have also discussed Wyckoff’s Law of Cause and Effect as used in establishing price targets for bull and bear markets through horizontal counts on point and ...
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