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

To: coferspeculator who wrote (167)	7/8/2004 5:13:14 PM
From: coferspeculator	Read Replies (1) \| Respond to of 14340

Today the market had an intra-day failure to the upside and closed at it's lows with an increased spread on higher volume, ending the day in a nearly oversold condition. Todays intra-day failure was a result of the meeting of demand by supply. Continued pressure from supply finds the market penetrating the half way point. With the market in a nearly oversold condition and likely to enter an oversold condition a rally is expected. The character of the action for the past week finds the market moving down on higher volume with increased spreads with pressure coming from both the speculative and investor areas. Rallies at this time are usually speculative oriented resulting from the covering of short positions. Should this rally be weak then it is likely that there will be a test of the bottom of the trading range.