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Strategies & Market Trends : Timing the Trade the Wyckoff Way -- Ignore unavailable to you. Want to Upgrade?

To: coferspeculator who wrote (153)	6/28/2004 5:40:35 PM
From: coferspeculator	Read Replies (1) \| Respond to of 14340

Today the market had an intra-day failure to the upside and closed near it's lows with nearly equal spread and lower volume, ending the day in a neutral position. Today's intra-day failure like that of the past three days was a result of the meeting of demand, with supply again exerting it's pressure to the downside. The action of the past three days appears to indicate that an upthrust is occurring. Today close near the middle of the short term trading range offers the possibility that the market will attempt to penetrate the supply line off the yearly highs and re-enter the downtrend. At this time it isn't possible to determine if this is going to occur but the bullish case is showing weakness when strength should be occurring.