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Strategies & Market Trends : Timing the Trade the Wyckoff Way

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To: coferspeculator who started this subject4/12/2004 4:17:19 PM
From: coferspeculator   of 14340
 
Today, the market traded higher on reduced volume, ending the day near the highs of a narrower price spread in an overbought condition.

If we have continued narrow price spreads to the upside that would indicate a possible successful test of the highs of last week. Widening spreads on increased volume would increase the probability of a failed test of last weeks highs and a more likely test of the highs reached earlier in the year. The current overbought condition of the market represents an impediment to significant upside progress.
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