Phase D (Accumulation)
Volume Price Analysis glossary · Wyckoff'S Laws & The Four Market Phases
Definition
Effect (move-up) begins: a clear Sign of Strength (SOS) rally, followed by Last Point of Support (LPS) backups, confirming the new uptrend.
Phase D (Accumulation) in plain English
If the earlier phases were the setup, Phase D is where the move finally starts working. Price breaks upward out of the sideways range with a strong, convincing push called a Sign of Strength — big up-days on rising volume, showing genuine demand. Then it usually pauses and dips back a little to the top edge of the old range; that pullback is the Last Point of Support, and if buyers step in there and price holds, it's like a rocket clearing the launchpad and confirming the engines are lit. Phase D is basically the market proving the new uptrend is real before it takes off.
Also called: Accumulation
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