Wyckoff Analytics : Scanning part 4-7.28.22

Wyckoff Analytics 2022 copyright
July 14, 21, 28, 2022

Scan Efficiently 3-5pm Pacific Time
John Colucci, Jr.
Bruce Fraser
John Colucci, Jr. has been involved in stock market and financial analysis for over 30 years. From the early days as a corporate bankruptcy and insolvency attorney, Mr. Colucci poured over
financial statements, budgets and cashflow projections to determine the feasibility of financial plans presented to creditors. After early training in forensic financial analysis and fraud detection,
Mr. Colucci took an interest in stock market investing from a fundamental perspective. After a series of hard taught lessons beginning in 1987, technical analysis became a bigger focus for
investment analysis. After working through the quasi fundamental/technical system developed by William J. O’Neil, Mr. Colucci’s Wyckoffian journey began with the search for meaning in the
phrase, “the stock is under accumulation.” After numerous books, blog articles, courses and special events with many of the great Wyckoffian’s of our time, Mr. Colucci is primarily a long/short
technical stock and futures trader using Wyckoffian principles--with an occasional financial statement sojourn to celebrate old times. Scanning and filtering are particular passions for Mr. Colucci.
Bruce Fraser, an industry-leading “Wyckoffian,” began teaching graduate-level courses at Golden Gate University (GGU) in 1987. Working closely with the late Dr. Henry (“Hank”) Pruden, he
developed curriculum for and taught many courses in GGU’s Technical Market Analysis Graduate Certificate Program, including Technical Analysis of Securities, Strategy and Implementation,
Business Cycle Analysis and the Wyckoff Method. For nearly three decades, he co-taught Wyckoff Method courses with Dr. Pruden, and has also used this approach to the markets as the foundation
of his own trading for over 35 years. Bruce publishes a widely read blog at StockCharts.com, entitled “Wyckoff Power Charting” and co-hosts the popular, online weekly Wyckoff Market
Discussion. Bruce has taught numerous special topic courses at Wyckoff Analytics including Point-and-Figure Charting Part 1, Part 2 and Part 3, Point-and-Figure from Stocks to Cryptos, Practices
For Successful Trading, Conversations With Wyckoff Wizards and the Basic Charting Course. Bruce has also presented at the Best of Wyckoff Online
Conferences in 2017, 2018, 2019, 2020 and 2021.
Please note: All sessions are being recorded. You will receive an email with login instructions after the first session.
Important Disclaimer:
The materials presented during these webinars are for educational purposes only: nothing contained in these materials should be construed as investment advice. There is a very high degree of financial risk involved in trading stocks, futures,
options, ETFs, and other financial instruments. You understand and acknowledge this risk and also that you alone are responsible for your trading and investment decisions and results. The Presenters assume no responsibility or liability of any
kind for your trading and investment results.

Scan Efficiency July 14, 21, 28, 2022
JOHN COLUCCI Jr. and BRUCE FRASER 3-5pm Pacific Time
Session #1 Session #2 Session #3

Wave Scanning Anchored Scanning Scanning for Watch List and
Counter Wave Scanning Tethered Scanning Portfolio Management
Acceleration Scanning Market Assessment Scanning
Deceleration Scanning
Contact Information: For Scanning related questions and homework: scantastic.Wyckoff@gmail.com
Administrative Contacts (billing, signup, etc.): wyckoffassociaties@gmail.com

Homework
Work with the Yield stocks scan and try the following modifications:
• 1. Stocks that are over the 50SMA
• 2. Stocks that have a 50SMA over 200SMA
• 3. Stocks that have had a positive 50SMA/200SMA cross in last 30
days
• 4. Stocks that are within 5% of a 30-day high.

Homework
1. Stocks that are over the 50SMA • and [close > sma(50)]
2. Stocks that have a 50SMA over • And[sma(50) > sma(200)]
200SMA • And [30 days ago sma(50) < 30
3. Stocks that have had a positive days ago sma(200)]
50SMA/200SMA cross in last 30 • And [sma(50) > sma(200)]
days
• And [close > 1 day ago max (30,
4. Stocks that are within 5% of a high) * .95]
30-day high.
• And [close < 1 day ago max (30,
high) * 1.05] ????

Homework syntax

SCANNING FOR MANAGEMENT
(WATCHLIST AND POSITIONS)

What common elements exist in Watchlist and
Portfolio Scanning?
• Both can be forms of secondary scanning: another list is the scan target
universe.
• List scanning (or secondary scanning) can involve even finer degrees of
scanning (e.g. tertiary scanning).
Each list type (watchlist or portfolio)

has had some predicate analysis
performed.
Let's get
grounded:
The predicate
analysis is your
trading system!

Let's Think About Information We Need to
Curate our Watchlists
1. Anticipated direction of price
2. Potential Entry
3. Failure point to remove from list

Let's Think About Information We Need to
Curate our Position Lists
1. Anticipated direction of price
2. Stop placement
3. Failure point supporting liquidating or reducing position
4. Additional entry point location
5. Profit objective(s)
6. Trend violation

ADDITIONAL CONSIDERATIONS FOR POSITIONS
1. Portfolio and/or position risk
3. Concentration in industry/sector
4. Rotation in or out of the industry/sector
5. Internal Correlations to indices, interest rates, gold, US Dollar, etc.
6. Divergences

Let's Compare Watchlist v. Portfolio Scanning
Watch List Portfolio
1. Anticipated direction of price 1. Anticipated direction of price

2. Potential Entry 2. Stop placement
3. Failure point to remove from 3. Failure point supporting
list liquidating or reducing
position
4. Additional entry point location
5. Profit objective(s)
6. Trend Violation

WATCHLIST MANAGEMENT
1. How does a stock get on our watchlist?
2. What to do with a stock once it is on the watchlist?
3. How long do we keep it on the watchlist:
a. convert to a position (long or short)
b. remove from watch list

WATCHLISTS
Build it and the trades will

come!

WYCKOFF OPPORTUNITY AS THE BASIS FOR
WATCHLIST ADDITION
What scans can we deploy for detecting a quality Wyckoff
Watchlist opportunity?
Breakout?
Breakdown?
Springs?
Upthrusts?
Cause Built?
Effort/Result?
Momentum, up or down?

Defining our Target Market Scan Area
We can begin our scanning process by defining

the target market area within which we wish to
scan.
Growth
Value
Income
Targets for Scan Development: Let’s
continue scanning for INCOME producing
tradeable assets.
What is a most basic scanning attribute
of income producing tradeable assets?
• ETFs
• STOCKS
Target Income Scan Development
And [has dividend is true]

AND [yield > ????]

ETF Income Scan Development
What are potential scanning syntax lines to locate income
producing US ETF assets with some measure of trading liquidity?
• [group is ETFNOUI]
• And [country is US]
• And [close > 10]
• And [sma (50, daily volume) > 250,000]
• And [has dividend is true]
• AND [yield > ????]

Let’s run lean and eliminate our universe
parameters other than ETFNOUI

Notice no sector/industry info
for ETF’s

Let’s restrict the universe a bit.

LET’S REPEAT THE PROCESS WITH
STOCKS!

POWER TIP: If you merge from the Save to Chartlist box, you
will not be allowed to preserve the sort order of the new scan
result list. Save as a new list, preserve sort order, and merge
from the edit menu.

From the list edit
menu, you can
merge the EFT
and stocks list if
desired and
preserve the sort
order of each
(some number
duplication).

New Merged list of stocks and etfs with 508 candidates

Let’s take a random walk
on the merged list

WATCHLIST SCANNING
QUICK REVIEW: What are some critical components of
Watchlist Management?
1. Determining proper entry after addition to watchlist.
2. Ensuring, to the extent possible, the anticipated price
action will occur as expected.
3. Remove from list when no longer eligible.
ANYTHING ELSE?
WATCH LIST SCANNING
ANYTHING ELSE?
NOT MISSING OUT!!!!

LOOKING LOW ON OUR WATCHLIST
How would we look for opportunities
around support?
•Stopping action
•Climactic reversal
•Huge volume day
•High close on a weekly bar
WATCHLIST SUPPORT Scan
What are the critical components of a support
trade such as a Spring or LPS trade?
Current close is over prior support.
ANYTHING ELSE?

ADDITIONAL SUPPORT SCAN COMPONENTS?
Are there additional potential components of a SPRING/LPS
trade?
1. Volume increases at support with high close?
2. Volume decreases as price holds over prior support ?
3. Range increases in conjunction with move away from
support?
Do we want to scan with additional
components?
KEY SCANNING PRINCIPLE
IDENTIFY ELEMENTS COMMON TO ANY
VARIATION OF THE PRICE ACTION YOU SEEK!
• PRICE OVER PRIOR SUPPORT IS THE ESSENTIAL CHARACTER OF A
SPRING/LPS
• VOLUME, RANGE, INDICATOR LEVELS ARE SUBJECT TO
VARIATION BETWEEN FORMATIONS AND THUS MAY NOT
AS RELIABLY USED FOR WYCKOFF EVENT SCANNING AS
MOVEMENTS AROUND PRIOR SUPPORT
LET’S WRITE A SCAN
PRICE ACTION CONCEPT SYNTAX POTENTIAL
• MOVE OVER PRIOR SUPPORT • Close over prior level
• min/max syntax
• Math function
• Days ago
• HOLD OVER SUPPORT • Close HOLDS over
• min/max syntax
• Math function
• Days ago

SUPPORT Scan Line by Line
• // SCAN OPERATORS //LINE BY LINE ANALYSIS
• AND [ROC(20) > 0] • ROC(20) establishes near term trend
• and [close > min(30, close)*95] • Current close is greater that -5.00% of the 30-
• and [ ROC (5) > 0 ] period low close ( * .95) (ANCHOR TO .95 OF 30
DAY LOW CLOSE WITH UNIDIRECTIONAL TETHER)
• //RANKING METHOD
• ROC(5) MAY GIVE CURRENT POSITIVE MOMENTUM
• Rank by [ROC(5)] (NEEDED?)
• Directional Sort is based on movement
Do we need an offset on the close/min line? over 5 periods (ROC(5)), an echo of the
scan terms and capitalizing on upward
scan.

DRAMATICALLY DIFFERENT INTERACTIONS WITH
SUPPORT
www.WyckoffAnalytics.com Copyright © 2020 Wyckoff Associates, LLC. All Rights Reserved.

www.WyckoffAnalytics.com Copyright © 2019 Wyckoff Associates, LLC. All Rights Reserved.
ROC(20): NEEDED?
QUICK TIP: ALWAYS
DECRIPTIVELY NAME AND COMPARISON OFFSET NEEDED?
CONSIDER A DATE YOUR
SCANS

LET’S RUN WITH THE
COMPARISON OFFSET

ONCE ON THE LIST:
HOW DO WE USE THE

SEARCH ENGINE TO DO
SOME WORK FOR US?

ALERTS and
SCHEDULED SCANS
Using Stockcharts to help
do our monitoring work.
ALERTS: A QUICK LOOK

YOUR ALERT
SUMMARY

THE ALERT WORKBENCH: PRICE OR ADVANCED

THE ALERT WORKBENCH: PRICE OR ADVANCED
Price alert

ADVANCED ALERT WORKBENCH: VERY SIMILAR TO SCAN WORKBENCH.
No sorting!

You can set

the alert to
run at the
market close
daily and
alert you to
the results by
email.

You can set

the alert to
run at the
market close,
open,
continuously
daily, etc.
and alert you
to the results Sorting criteria is not
by email.
permitted on the
alert engine.

HOW DO I KNOW SORTING NOT ALLOWED ON ALERTS?
I ASKED!

Let’s tweak the Alert:
What information about our watchlist would we

be interested in knowing?

ALERTABLE EVENT EXAMPLES:
ACTIONABLE EVENTS
• MOVEMENT IN THE DIRECTION OF ANTICIPATED TRADE
• MOVEMENT IN OPPOSITION TO ANTICPATED TRADE ON LOWER
VOLUME OR RANGE
• ACCELERATION/DECELERATION OF PRICE HIGHER OR LOWER
• GENERAL DECREASE IN VOLUME OR ATR
• MACD HISTO CROSS UP OR DOWN
• PRICE CROSSES A VALUE (PRICE ALERT) OR INDICATOR (SMA)

SCANNABLE V. ALERTABLE EVENTS: ANY
DIFFERENCE?
Are there differences between scannable events and alertable events?
• Wyckoff scannable events can be directed to structures or Wyckoff price
locations that indicate the presence of CO activity which may lead to a
profitable trade.
• Wyckoff watchlist alertable events can be directed towards the
establishment of positions once price has moved in the anticipated
direction or more fully established the successful completion of a Wyckoff
event, phase or condition.
KIND OF SOUNDS THE SAME: ARE THERE ANY DIFFERENCES?

SCHEDULED SCAN v. ALERTS
What are the differences
between scheduled scans
and alerts?
SCHEDULED SCANS?

SCHEDULED SCANS?

SCHEDULED SCANS V. ALERTS
SCHEDULED SCANS ALERTS
• Scheduled scans allow the full • Alerts can run continuously,

use of the scan engine, including hourly, daily, etc.
sorting • Results are reported a list in
• Can automatically save as a email, text or on the workbench
chartlist, and merge or replace a • Can not sort results
chart list
• Have to cut/past alert list for
• Can schedule to run at various new chartlist
time, but not continuously
• Up to 250 alerts for Pro Member
• Limit of 25 on Pro Member level
ALERTING ON BARS CLOSING UP?
The addition of the count-up

syntax will alert you to any
stock that , in addition to
meeting the other criteria,
has more than 2 of 4 days
QUERY: Do we even need the original with up closes.
criteria if we have already saved a watch
list?

SCANNING AND ALERTING FOR
PORTFOLIO MANAGEMENT
CAN WE USE SCANNING
AND/OR ALERTING FOR
PORTFOLIO MANAGEMENT?
1. CREATE A CHARTLIST WITH YOUR ACTIVE POSTIONS (E.G. NAME IT
“ACTIVE POSITIONS” AND DATE IT).
2. MAKE THE ACTIVE POSITIONS LIST THE TARGET OF YOUR POSITION
SCAN.
3. DETERMINE THE CRITERIA FOR WHICH YOU WILL BE SCANNING.
4. DEPLOY A “SCHEDULED SCAN” OR AN ALERT.

POTENTIAL CONCEPTS FOR POSITION SCANNING
• Price moves under SMA(50) • And [close <= sma(50)]
• Sma 50 > Sma 200 • And [sma (50) > sma(200)]
• RSI(14) overbought • And [rsi(14) > 70]
• OBV 10 and 50 in proper order • And [obv signal(10) > obv
• More than -5% move in 10 signal(50)]
periods • and [ PctChange(10,close) < -5 ]
• Possible parabolic, climactic run • and [roc(5) > roc(20) * 1.25]

SORT SCANNING FOR BASIC PORTFOLIO
INFORMATION
By using only the “rank by” command, we can order ALL our positions
by very significant technical indicators and benchmarks.
• Proximity to a moving average
• Performance over any period
• Relative performance to indices, sectors and/or industry groups
• Almost anything you can imagine

NOTE: THIS SCAN WILL
NOT RUN AS THERE CAN
BE ONLY 1 RANK BY
ACTIVE IN A SINGLE
SCAN.
COMMENT/SWITCH
OUT IF YOU WANT TO
TRY EACH ONE.

NOTE: THIS SCAN WILL
RUN AS THERE IS ONLY
1 RANK BY ACTIVE.

FIND HIDDEN RISK IN OUR
PORTFOLIO’S?
• By using the “rank by” command, we can determine the correlation
of our positions to various market metrics:
• Interest Rates;
• Commodity Prices;
• VIX;
• Consumer price index.

WILL THIS SCAN RUN AS
WRITTEN?

CORRELATION:

CORRELATION V.
PERCENT RELATIVE

QUESTIONS
Send your homework and scan ideas to scantastic.Wyckoff@gmail.com with the subject line Scan Special.
Look Less, See More!

Wyckoff Analytics : Scanning part 4-7.28.22

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Wyckoff Analytics 2022 copyright

July 14, 21, 28, 2022

Wyckoff Analytics 2022 copyright

Session #1 Session #2 Session #3

Contact Information: For Scanning related questions and homework: scantastic.Wyckoff@gmail.com

Administrative Contacts (billing, signup, etc.): wyckoffassociaties@gmail.com

Wyckoff Analytics 2022 copyright

Wyckoff Analytics 2022 copyright

Wyckoff Analytics 2022 copyright

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Each list type (watchlist or portfolio)

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1. Anticipated direction of price 1. Anticipated direction of price

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Build it and the trades will

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We can begin our scanning process by defining

And [has dividend is true]

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NOT MISSING OUT!!!!

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www.WyckoffAnalytics.com Copyright © 2020 Wyckoff Associates, LLC. All Rights Reserved.

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HOW DO WE USE THE

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You can set

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You can set

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What information about our watchlist would we

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• Scheduled scans allow the full • Alerts can run continuously,

The addition of the count-up

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