SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Timing the Trade the Wyckoff Way
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: coferspeculator who started this subject5/8/2004 7:46:58 AM
From: coferspeculator   of 14340
 
On Friday, the market experienced an intra-day failure to the upside and went on to close at the bottom of a larger spread on increased volume in a neutral condition. The failure was a result of supply continuing its control of the market.

For several weeks supply has had total control of the market. This supply is evident throughout the market and that isn't good for the bulls. Friday was an ugly day for the bulls but the action for the week that had the market breaking through the important demand line from this past summer was more important.

The action of the market continues to indicate that a test of the lows for the year is likely. Unfortunately for the bulls the character of the action at this time is indicating the test will fail.

The latest and best opportunity for adding to or taking new short positions was during the 4/23-4/27 period when the market was overbought. New or additional positions should be taken with caution since the market is approaching its short term oversold line and the area of support of the years lows. It is likely that some type of rally should occur during this period and a close review as to the character of that action would allow for a less risky entry.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News