supply strength being tested today, page-15

'So it sounds like it didnt succeed today Ecn....'

As mentioned , yesterday was productive - understand that a supply test is exactly that - a test !! If supply comes in again today they will simply sit back and accumulate some more - my guess is that the buyers will test the supply line again today to see whether the sellers have really dried up yet . If they have , they will move it up pretty quickly again . Yesterday was the second supply test in the past week - the first one failed so they sat back and accumulated again . .. why wouldn't you ... the smart money is very patient - if they can get it cheaper they will . Yesterday was the second test - it didn't fail - it was productive and made in roads . Either the sellers didn't come out and play very hard yesterday or we are on the verge of a move - i think the latter, but more footprints will be revealed today. These phases in share price movement are far more significant than anyone realises and forms the basis for timing an entry on a share with extreme accuracy - few study it , learn it , and trade it - but then again very few make money in the share market. If you want to make money , this is what its all about IMO . So its day 2 of test 2 - has a nice ring about it don't you think !!!!!

ECN.