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 (138)	6/17/2004 5:12:57 PM
From: coferspeculator	Read Replies (1) of 14340

Today the market had an intra-day failure to the downside and went on to close in the upper third of an increased spread on higher volume, ending the day in a NEUTRAL position. The intra-day failure was a result of demand meeting supply. The inability of supply to make any further progress to the downside as the market has been able to move back above the intermediate term supply line off the highs of the year indicates that demand is absorbing whatever supply is being offered at this moment. The inability of the market to make progress to the top of the range is the result of the failure of demand to follow prices up, withdrawing and allowing supply to exert limited downside movement. At this time the scenario of an apex seems to be playing out. Attention to the resolution of this will potentially indicate the next intermediate term move.

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