In this session, you will gain a comprehension of how mass psychology in action creates the shape of a conceptual framework for technical market analysis. Hank emphasizes an appreciation for the cause and effect linkages among price, volume, time, and sentiment and explains how these factors combine to form stages of accumulation, markup, distribution and markdown. You will have a further sensitivity to the value of trading ranges and divergence and develop an understanding of the critical need for selecting between a trend-following system and a trend-fading system.
This workshop provides you with a unique opportunity to learn the principles of the Wyckoff Method of technical analysis and trading. You will learn to combine the technical tools you already use with an entirely new perspective on market behavior, enhancing both your technical trading skills and your ability to judge critical trading situations. You will learn to concentrate your analysis on three essential factors: tick-volume or volume (the intensity of trading), the relationship between price movement and volume, and the time required for all the movements to run their respective courses. The information derived by using a volume or tick-volume approach can directly influence your day-to-day decision making process. It will enhance your awareness of the market’s real strengths or weaknesses.
Hank Pruden is a professor in the School of Business at Golden Gate University in San Francisco, where he has been teaching for twenty years. He is also the executive director of the Institute of Technical Market Analysis (ITMA). At Golden Gate, he developed the first accredited courses in technical market analysis in 1976. Since then, the curriculum has expanded to include advanced topics in technical analysis and trading. In his courses, Hank emphasizes the psychology of trading as well as the use of technical analysis methods, and he has published extensively in both areas. Hank is more than a theoretician. He has actively traded his own account for the past twenty years. His personal involvement in the market ensures that what he teaches is practical for the trader and not just abstract academic theory. Hank has coached institutional traders in the field of technical analysis for many years. He is presently on the board of directors of the Technical Securities Analysts Association of San Francisco and was formerly president of that association. Hank also sits on the board of directors of the Market Technicians Association (MTA). The MTA is the world’s leading association for the dissemination of technical analysis information. The MTA’s sister organization, the IFTA (International Federation of Technical Analysts), certifies analysts worldwide. Hank edits The Market Technicians Association Journal, the premier publication of technical analysts. From 1982 until 1993, he was a member of the board of trustees of Golden Gate University.