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 (140)	6/20/2004 8:49:41 AM
From: coferspeculator	Read Replies (2) of 14340

Watch List Stocks-Activity for June 17 ASCA-After an ending action during the first week of April, an apex has formed off those highs and the lows from this past November. A second apex is forming off the highs and the support line at $31. This support line has absorbed the selling pressure for nearly two months and recent action is suggesting that the supply is starting to diminish. The possibility of a test of the current spring seems likely and the result could offer a potential entry. A #3 spring would offer an immediate opportunity if the market was positioned correctly There is currently enough cause in this area to provide a move above the old highs up to nearly $42. This would result in a jump. As a result careful attention should be given to the actions in the next weeks. A test of the current spring or a number three spring offers upside potential. A number one spring would result in the breaking of the ice level, in which case a back up would offer evidence as to whether this is a terminal shakeout or a further move to the downside.

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