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

To: coferspeculator who wrote (165)	7/7/2004 7:50:46 PM
From: coferspeculator	Read Replies (1) \| Respond to of 14340

Today the market had an intra-day failure to the upside and closed near the day's opening on a decreased spread with sustained volume, ending the day in a nearly oversold condition. Today's action found supply meeting demand during the afternoon. Today saw an early attempt by the speculators to move the market up but supply from the investor group continued to come into the market. This continues to be a negative for the bull case. With both speculative and investor pressure from the supply side it is going to be difficult for the market to make any headway and is unlikely that the market is going to exit the former downtrend off the years highs, that it has re-entered, to the upside in the coming days. It is likely that the market is going to move through the half-way point from the low of the year and it's most recent high of late June. This is a potential SOW and if it occurs with increasing spread and high volume then the likelihood of a test of the lows for the year is probable.