Timing the Trade the Wyckoff Way Message Board

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Strategies & Market Trends : Timing the Trade the Wyckoff Way

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To: coferspeculator who started this subject	4/28/2004 4:42:48 PM
From: coferspeculator	of 14340

Today, the market traded lower on a wider spread with increased volume closing near the lows of the day in a neutral condition. The action was a result of the re-establishment of the control of supply on the market. The market has firmly re-entered the short term downtrend. It finished the day near the half way point separating this years highs and lows. Today's actions confirm the establishment of consecutive lower highs when the market entered overbought conditions, which is bearish. The character of todays action appears to indicate that the April lows will likely fail their test and the possibility of the market re-entering the longer term downtrend off the years highs is likely. A review of the PF charts for the major averages indicates that a count exists that will provide for a test of this years lows. There still exists a consecutive higher low that occurred when the market entered an oversold condition, as well as several obstacles that need to be overcome to attain this count. With the market already in a neutral condition it is also likely that the market will become overbought before the lows of the year are reached.

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