Richard Demille Wyckoff Part 3 by Stella Osoba, CMT
The most basic and universal laws governing goods and services in a free market are the law of supply, law of demand, and the intersection of these laws. These laws control stock prices. In this third of a five-part series about Richard D. Wyckoff, we look at how he analyzed market action.
Richard Wyckoff firmly believed that an understanding of the operation of the laws of supply & demand was essential to understanding the changes in stock prices. Prices rise when demand exceeds supply and fall when supply is greater than demand. And if you could apply these laws, you could begin to learn to read charts correctly. Most people read charts just to follow prices and then guess at what is likely to happen next...