I didn't realize that I could upload it here (the max at ET is 2megs).
So, here it is:
I'm also uploading the sections in Wyckoff's course on "The Law of Supply and Demand" and "Judging the Market By Its Own Action" as these are critical to understanding and implementing the SLA/AMT.
And, finally, I'm uploading Section 7 of Wyckoff's course in which he analyzes a year in the life of the stock market, almost day by day, for those who get hooked on this PA stuff and would like additional practice with the guy who pretty much invented the approach.
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We cross-posted, and I just uploaded the SLA/AMT pdf.
In a nutshell, the prices in a mean-reverting instrument cluster around a mean (actually, a median, but "mean-reverting" has become the common usage, so . . .), all of this having to do with the auction market and how demand and supply interact to reach "equilibrium", or a generally agreed-upon price. I'll post the weekly trend chart from two weeks ago as an illustration.
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If you read the pdf, particularly Appendix E, that should explain the basics.
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I wouldn't be posting there at all if it weren't for that stupid thread. But even though the "professionals" don't understand it (which says plenty right there), people do benefit from it; they're just afraid to post anything about it, which is unfathomable. I do understand that these interminable dogfights lead to page views and clicks, but, if that's the primary goal, why moderate at all?
Oh, well At least the SLA is done, and it will be around far longer than I will.
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