After the first occurrence, the data feed company, to whom we pay a lot of money for these services, made some adjustments to resolve the issue.  After the second failure, we  reviewed the situation and added some programming that will act as a backup if the problem occurs again.  We have successfully tested this system and believe this will preclude this from happening again.

The Pulse of the Market reports have been updated.  I would suggest subscribers check the reports for May 10, 2010 through May 12, 2010 as portions have changed.  This is because each day’s data relates to the previous day’s data. It is one long chain.

Even though we have had some log in and data base issues, I am very pleased with program’s logic. As expected it has worked correctly and as these peripheral issues are resolved.

Our sincere apologies for any inconvenience while we are resolving these issues.  We are continuing to monitor the report and will post and futures issues (hopefully there won’t be any) on this blog.

This was simply because the Wave was calculated manually and combining the volumes of all the individual Wave stocks was cumbersome and extremely time consuming. But, it was tradition and traditions are hard to change.

When Craig Schroeder and I were beginning to develop the online data and charting service we decided to change tradition and designate the volume of the Wyckoff Wave as the total volume of each Wave stock.

Every 5 minutes we take the total, weighted price of each Wyckoff Wave stock and the total volume of all 12 Wave stocks. We use this data to determine or “call” each intra day wave throughout each trading day.

Additional calculations produce the numbers for the Optimism-Pessimism Index was well as the Technometer Force Index.

Craig and I both felt that by using the actual volume for the Wyckoff Wave stocks, this leading indicator index would be even more helpful to Wyckoff traders.

Bob Evans also produced a series of recordings (on reel to reel tape) that offered market commentary using wonderful stories that taught us valuable lessons.  At one time, the tape machine was mailed from student to student so they could listen to the tapes.  My, have times changed.

The fascinating thing about the Wyckoff method is that the principles he developed 80 years ago, work just as well today as they did in the 1920′s and the great depression (when SMI was founded).  On his tapes, Evans may be using a company that no longer exists to make his point, but it doesn’t matter.  It’s the concepts and the lessons that are important and they are timeless.

Probably Bob Evans’ greatest gift was his ability to communicate in a way that you remembered and used the information he presented.  While listening to the tapes was serious business, it was also great fun.  He made over 200 Evans Echoes tapes and many of them are SMI classics.

Gary Schuber and I are working on a project to convert these invaluable tapes into MP3 audio files and, along with the associated charts, are, for the first, time making them available to Wyckoff Students. They can be fouind in the vault section of the web site.  It is a big project and will take some time to update all the Evans Echoes tapes.  If you have a favorite, please leave a comment and we’ll make update it and place it in the vault.