Timing the Trade the Wyckoff Way Message Board

STOCKTALK

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 Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: coferspeculator who started this subject	5/12/2004 5:05:10 PM
From: coferspeculator	Read Replies (1) of 14340

Today the market had an intra-day failure to the downside and went on to close near the top of it's range with an increased spread on higher volume, ending the day in a nearly oversold condition. The wide spread and high volume was a result of the meeting of supply by demand during the afternoon. Early in the day, demand was withdrawn, allowing the market to enter an oversold condition. The market tested the lows of the year for a second time in three days and the response was a spring. Today's spring occurred on lower volume than two days ago and that's positive for the bulls. The character of todays spring was very good. Today the market attempted to fall through the ice and for now has failed. The ability of the market to break back above the short term overbought line is positive. While the market has a lot to do to regain a positive position in the trading range that has been in place for most of the year, todays action was a step in the right direction. As mentioned in earlier reports, it is important for demand to meet supply at a minimum in the coming days and preferable to take control. On Monday there was evidence that the pressure on the market wasn't as great as price seemed to indicate. This continued yesterday and was quite evident today. Ideally, the market will move higher over the next few days and then re-test todays spring with a decreased spread and lower volume.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next