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Strategies & Market Trends : Timing the Trade the Wyckoff Way
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To: coferspeculator who wrote (111)6/3/2004 4:52:04 PM
From: coferspeculator   of 14340
 
Today the market experienced mid-day failure to the upside and finished at it's lows with a widening spread on lower volume, finishing the day in a NEUTRAL position. Today's intra-day failure was a result of the meeting of supply.

With the market meeting the supply line off the highs of the year and the oversold condition that existed from Monday, a reaction was expected. Careful monitoring of the reaction is needed in the coming days to see how strong supply is. Should supply fail to make it's presence felt in the coming day, that would give demand another chance to make an attempt to break through the supply line and potentially test the resistance across the highs of the year.
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