Wyckoff trading method, page-78

Here ya go, I fixed it, just for you......



and yes, you could make a case for 'Effort vs Result' on Monday's trading, and just as I mentioned above, should price capitulate down and complete a widespread downbar (or at least, not a narrow spread downbar, with lower volume) by the close of trade then yes, serious weakness has arrived...and my theory of decent buying before Christmas would probably be blown away.
However, you need to be flexible in your thinking as well, my theory of the chart suggests that there has been some buying (strength) recently.
And nothing yet has proved that theory to be rubbish.
So, with potential strength in the background of the chart (until proven different), an upthrust showing an effort vs result failure would be considered in the wrong place, and anyway, it would also need confirmation (with a downbar following it) before it could be considered proven.
This is because the market does have a way of tripping you up, and making things difficult to interpret (mind you if it was easy.......well you know.....)
Rarely are things TextBook Perfect.....
Here, read the actual TG notes for an upthrust....pay particular attention to the Background and Future comments, and make your own mind up.



cheers