Timing the Trade the Wyckoff Way Message Board

STOCKTALK

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 Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: coferspeculator who wrote (172)	7/14/2004 4:51:47 PM
From: coferspeculator	Read Replies (1) of 14340

Today the market opened lower, rallied on short covering as some demand met supply and then had an intra-day failure to the upside as supply met demand. The market closed in the bottom third of a larger spread on increased volume, ending the day in a nearly oversold condition. The character of today's action showed the resumption of pressure to the downside by both speculative and investing interests. This theme offers little opportunity for a significant resumption of a rally of any consequence. A test of the lows seems likely. Continued pressure in the coming days increases the probability of a break through the ice but at this time with the market in a nearly oversold condition a rally on lower volume from the current area with decreased spread is most likely.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next