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

To: coferspeculator who wrote (186)	7/28/2004 4:44:30 PM
From: coferspeculator	Read Replies (1) \| Respond to of 14340

Today the market experienced an intra-day failure to the downside and finished in the top eighth of a wider spread on sustained volume, finishing the day in a neutral position. Today's intra-day failure was the result of demand meeting supply and for the second day in a row investors showed buying interest in the afternoon. Speculators took control of the market early as it moved to it's lows. That supply suggested that yesterdays rally was a one day affair until demand met the supply as speculators, covering short positions, joined investors in the afternoon and brought the market back to yesterday's close. The character of the action suggests that supply is still very evident but is being absorbed, at least for now. Continued support offers hope to the bulls that a bottom to the trading range is being put in. A rally and subsequent test on lower volume is a best case scenario for the bulls. A weakening rally that isn't able to significantly penetrate the half way points mentioned over the weekend offers the bears another opportunity to add to their shorts.