check01 Richard Wyckoff blog.afraidtotrade.com

http://blog.afraidtotrade.com/

http://www.thedaytrader*****ible.com/day-traders-bible.pdf

Let's hear what Wyckoff has to say on the issue (from Studies in Tape Reading):

 

"If the stock which is charted were the only one in the market, its gyrations would be less erratic and its chart (would be) a more reliable indicator of its trend and destination."

 

"BUT, we must keep before us the incontrovertible fact that the movements of every stock are affected by those of every other stock. This in large measure accounts for the instability of stock movements as recorded in single line charts."