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Strategies & Market Trends : Timing the Trade the Wyckoff Way
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To: coferspeculator who wrote (84)5/17/2004 4:31:32 PM
From: coferspeculator  Read Replies (1) of 14340
 
Today, the market broke the ice level as it traded to the downside in a wider spread on sustained volume, closing near the lows and at its lowest level for the year. The combination of spread and volume indicated that supply is still entering the market and demand was a no show. The market ended the day in a neutral position.

While the close and spread indicates supply entering the market the limited amount of downside pressure hasn't had the effect that was seen in the most recent past as the market headed downward when the pressure was much greater. This leave the possibility that a spring may still occur but demand must enter the market in the next few days for this possibility to occur. Should the pressure resume to the levels seen in April then the market will be confirming the likelihood of attaining targets in the vicinity of the lows of this past October.
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