Wyckoff Theory
Master the art of reading institutional footprints through Wyckoff methodology. Understand accumulation, distribution, and trade with smart money.
The final pullback before markup begins
What It Is
The Last Point of Support is the final opportunity to enter before the markup phase begins. It's a shallow pullback after the Spring or Sign of Strength (SOS), showing that supply is truly exhausted. LPS is characterized by a higher low—price doesn't return to the range lows. Volume is notably low, confirming no selling pressure remains. This is where Smart Money makes their final purchases. The LPS often tests previous resistance (now support) from inside the range. When it holds, the stage is set for markup.
Last Point of Support (LPS) - Visual
Price Behavior
- Higher low compared to previous tests
- Shallow, corrective decline
- Holds above Spring low
- Often tests previous resistance as new support
- Quick recovery after the test
Volume Behavior
- Very low volume—the key characteristic
- Shows no selling interest remains
- Confirms supply is exhausted
- Volume expands when markup resumes
What It Means
- Supply is exhausted
- Smart Money accumulation is complete
- Trend is ready to begin
- Low-risk entry opportunity for prepared traders
LPS should show clearly lower volume than any previous tests. If volume expands on the pullback, more supply may exist, and the markup may be delayed.