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Wyckoff Accumulation & Distribution

Official

Read a trading range as accumulation or distribution from its events (climax, spring or upthrust, sign of strength or weakness).

Updated Sep 30, 2026 · range, accumulation, distribution, volume

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What it is

Wyckoff describes markets as cycles: accumulation (a range after a decline, ending in markup) and distribution (a range after an advance, ending in markdown). The read is subjective: always say "possible" and how confident you are.

What to look for

Accumulation

  • PS / SC: preliminary support, then a selling climax on heavy volume and a wide range.
  • AR: automatic rally that sets the top of the range. ST: secondary test of the climax low on lighter volume.
  • Spring: a brief break below the range low that is quickly reclaimed, then a test on low volume.
  • SOS / LPS: a sign of strength (wide up-move on volume, breaking the creek), then a last point of support (a higher-low pullback).

Distribution is the mirror image: PSY, BC (buying climax), AR, ST, an upthrust (UT/UTAD) above the range, SOW (sign of weakness), LPSY (last point of supply).

Volume tells the effort against the result: climaxes have heavy volume, tests and pullbacks dry up.

How to mark it

  1. zone kind range for the trading range (the climax extreme and the automatic reaction bound it).
  2. level for the creek (resistance of an accumulation) or ice (support of a distribution).
  3. marker for each event with its abbreviation (SC, AR, ST, Spring, SOS, LPS / BC, UTAD, SOW, LPSY), on the candle where it occurred.
  4. trendline for a supply or demand line when the range is sloped.

Scenario logic (analysis, not advice)

  • After a spring and its test, or a LPS after a SOS: a bullish scenario with the stop reference below the spring or LPS low and the first target at the top of the range, then the range height projected upward.
  • After an upthrust or a LPSY: the mirror scenario for a decline.
  • Say which phase (A to E) the market appears to be in, and what the next event to watch is.

Invalidation

Accumulation is invalid on a sustained close below the spring or climax low with no recovery. Distribution is invalid on a sustained close above the upthrust high. If the range has no clear climax or test, say it is unclear rather than forcing a label.

Pitfalls

Do not label events without the volume or the reclaim that defines them. Two labelled events and an honest "not confirmed" beat a full chart of guesses.