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 wrote (89)	5/20/2004 5:19:11 PM
From: coferspeculator	Read Replies (1) of 14340

Today the market opened and closed in nearly the same position with decreased spread on lower volume finishing the day in a NEARLY OVERSOLD condition. The failure of supply to follow up on yesterdays action, the nearly oversold position and the reduction of speculative pressure to the downside in the market shouldn't be dismissed. While no actions can be taken at this point it is important to remember Wyckoff's suggestion that dullness at the bottom of a decline often indicates a lack of pressure, a drying up of the supply. Wyckoff commented that dull periods often indicate the end of a move and the beginning of a new one. While the recent SOW should continue to be considered the most likely indicator for the next move, the fact that the market has remained within a spring position can't be ignored. As mentioned yesterday, the action in the coming days/weeks should provide the answer. It should go without saying that having a list of possible speculative issues ready for action is appropriate.

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