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	4/13/2004 5:24:42 PM
From: coferspeculator	of 14340

Today, the market experienced an early failure to the upside and went on to an poor close in a much greater spread on higher volume. The early failure was a result of supply entering the market. At the end of the day the market ended in a neutral position, having corrected the overbought condition that has been in place. The establishment of a neutral condition above the half-way points in the major indexes increases the likelihood of a successful test of their respective lows in March. It will be important, however, to watch how much supply comes into the market in the coming days. It is well worth reviewing this past Saturdays message, especially the following item: "This could be a positive thing if supply is not overwhelming. The cause that would then be built up would provide for targets that would allow for a potential move through the highs set earlier in the year. If, however, supply takes control and the downside progress accelerates, the current built up of cause from the most recent highs would find the market breaking back through the first ice area for a second time and potentially falling through more important support levels that were established earlier."

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