| Step | Question |
|---|---|
| 1 | Market position and probable trend? |
| 2 | Stocks in harmony with that trend? |
| 3 | Does P&F cause meet price objective? |
| 4 | Is the stock ready? (nine tests) |
| 5 | Timing with index turn? |
Richard D. Wyckoff
1873—1934
Five Wyckoff steps
Operational procedure: market trend, stock selection, P&F cause, nine tests, index timing.