SI
SI
discoversearch

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 ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: coferspeculator who wrote (86)5/20/2004 8:01:31 AM
From: coferspeculator  Read Replies (1) of 14340
 
Watch List Stocks-Activity for May 19

This is one of several stocks mentioned on Today's Watch List.

NEM-The ending action sequence of PS, SC, AR, ST occurred in the vicinity of the downside target of $36. This is also in the vicinity of the half way point between the lows in '03 and the highs of this year.

NEM has rallied back to the PS point so a conservative count from the $35 area offers a potential target of $40. The action, however, on the last three high volume days has found the close near the lows. In all three cases supply has meet demand. Today, NEM had an intra-day failure to the upside as it approached the short term supply line.

At this time it is likely that additional testing within the trading range is likely that will provide for a larger count. While it appears that the short term supply line is still offering resistance, the reverse use of trend lines shows another picture. Additionally, there is currently a larger down side target when looking at a second phase.

These unanswered questions and the doubts that arise from them advises that waiting to see what happens in the near future will assist in determining the probable future action of NEM. The XAU will not be able to progress significantly in either direction without the co-operation of NEM. Patience is required.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News