Wyckoff trading method, page-1058

Here are some which have caught my eye.

SKF fortnightly chart
An awful down trend finally found a bottom in early august in a potentially climactic selling event. Price was sucked higher in a 'supply vacuum' and has since sold back down on low volume, seeming to confirm that the event managed to shake out loose supply at these levels. It is now finding some signs of strength again as it tries to test former lows. This kind of 'background context' where supply is thin can induce an explosive reaction to positive news from the company. However, in the 'larger context', those holders who weren't shaken out in August may provide some resistance to the upside.


TMP Daily chart
Has been trending downwards and recently dropped out of the sideways range (30c-45c) that it was basing in. In late July there was some kind of 'shock' event which induced supply but seemed to be absorbed only to be released at the early September when price broke through the 30c level. Initially this looked like it could have been a shakeout/spring but it struggled to recover the 30c level and has since fallen back to test previous support at 23c. The low volume test piqued my interest and I'll be watching to see how it responds from here.