📜 THE AM TURN
A Wyckoff‑Structured Reading of the Prior Session
Legal Disclaimer: The AM Turn is an educational commentary on market structure and operator behavior. It does not provide investment, trading, legal, or financial advice. All market activity involves risk, and past behavior does not guarantee future results. Readers should perform their own due diligence and consult qualified professionals before acting on any information contained herein.
Issue 2,060 – Copyright (c) 2026. All rights reserved.
Keeping WB's Clock Alive Since 2017
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FROM THE DESK OF WYCKOFF TRADER
(Read the Terminology at the bottom if you need clarification on Wyckoff/WB/ME‑isms)
"As you study the market each day, remember that its movements are the deliberate expressions of the large interests, and your task is to observe them without haste or bias. In The AM Turn, I ask you to read each session as a lesson from the Composite Man himself, for he reveals his intentions to the student who watches with discipline and an open mind." — Wyckoff Trader
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📜 Good morning. Today is SERIES S2L.
🎛️ Tape Read: 🏛️🐂💲 Potential Sign of Strength coming soon
🧭 Honing Turns: Spill up → AM low → (No Mid‑AM) → Lunch high → Mid‑PM low → Last‑Hour high
Today's Lean: Early spill → probe the 48-low zone → aggressive response bid off the 9:40 test → heavy spring at midday → sponsored markup into the afternoon → drift‑hold above midpoint into the close.
SERIES DAY (ALL TIMES EST — NEW YORK CITY)
🕒 Spill 9:30-9:57
🕒 AM 10:00-10:57
🕒 Mid‑AM 11:00-11:57
🕒 Lunch 12:00-1:57
🕒 Mid‑PM 2:00-2:57
🕒 Last Hour 3:00-3:57
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🧭 S1H Daily TURN SUMMARY
A concise ledger of yesterday's dominant intraday structures.
Down from the 48 handle on 23,300 lots, opening with a deliberate downside feel as the Composite Man pressed into early supply.
10:50 am high on 14,400 lots, an aggressive lift showing demand stepping in once the 9:40 test confirmed supply was thin.
9:40 am test of the low on 15,300 lots, a controlled probe rather than a break–early confirmation the operator was testing, not selling.
12:12 pm spring on 25,000 lots, the heaviest print of the day, absorbing supply and turning the tape buoyant.
1:05 pm higher low at the 43 handle on 7,500 lots, a clean change of character with supply arriving late and light.
3:00 pm new high of day on 9,500 lots, a sponsored markup following the 2:30 POTUS remarks, holding above the halfway retracement into the close.
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🌤️ MARKET WEATHER
A morning shaped by a firm downside test, lifted by a confident midday spring, and carried into the afternoon by sponsored markup that held its ground into the close.
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🦶 The Composite Man's Footprints
S1H Day — Daily Classification: S1H — Early downside offering into 9:40 am, followed by a heavy spring at 12:12 pm and a sponsored markup into 3:00 pm confirms a firm bid
The session opened with weight, pressing down from the 48 handle on 23,300 lots, immediately revealing a market willing to test the lower edges of demand before showing its true intent.
The Composite Man made his posture clear early: the 9:40 test of the low on 15,300 lots was not an attempt to break the floor, but a deliberate probe. The aggressive lift into the 10:50 high on 14,400 lots confirmed that supply was thin and demand was ready to respond when invited.
The midday drift back to the lows told the real story. At 12:12, price springs the low on 25,000 lots–the heaviest test of the day–yet instead of breaking, the tape turns buoyant. That's absorption, not weakness. The Composite Man was gathering what little supply remained.
The 1:05 higher low at the 43 handle on 7,500 lots reinforced the shift: demand was now stepping in earlier, and supply was arriving late and light. A classic change of character.
A sequence of higher highs and higher lows carried the tape into 1:50, where the rally was checked–not rejected–while the market waited for the 2:30 POTUS remarks. The pause was procedural, not structural.
When the news hit, the operator removed the lid. Price ripped to a new high of day at 3:00 pm, printing the 38 handle on 9,500 lots, a clean demonstration of demand stepping through the remaining overhead.
Into the close, price drifted but held above the halfway retracement, signaling that the day's gains were not speculative–they were sponsored.
This was not a distribution. This was not a failed rally. This was a campaign day–a deliberate testing of supply, followed by controlled markup once the operator confirmed the path was clear.
The heavy spring at 12:12 was the tell: supply was thrown at the market, and the market absorbed it without losing structure. Everything after that was the Composite Man walking price upward through pockets of weakness.
The Composite Man leaves the tape in a position of quiet strength. Holding above the midpoint into the close signals he is not finished. He has no reason to unwind a position he spent the entire session building and validating.
Tomorrow's posture is simple: He will continue to walk price where supply is thinnest, pausing only long enough to test the next layer.
The Composite Man leaves footprints for those who know where to look.
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⚡ THE COMPOSITE MAN'S BIG TEN
The S&P 500 is no longer 500 stocks.
It's 10 stocks with 490 passengers.
NVDA, AAPL, MSFT | AMZN, GOOGL, GOOG, META | TSLA, AVGO, BRK.B
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✉️ READER'S NOTE
Q: "How can I tell when the Composite Man is absorbing supply rather than distributing?"
A: Absorption is marked by firmness on reactions and a reluctance of the price to decline despite active selling; distribution reveals itself through labored advances and a tendency for the price to fall easily when demand pauses. Study the character of the movement, not merely its direction.
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Dates
📅 February 7 — Dog Moon, 7:11 a.m.
📅 April 21 — Spring Solstice (Equinox), 11:11 a.m. (all times EST)
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💬 FEEDBACK & CORRESPONDENCE
If you have thoughts, questions, or observations about today's issue of The AM Turn, you may write directly to the desk at feedback@wyckoffamtrader.com.
Every note is read with care, and while individual replies are not always possible, your insights help refine the work and sharpen the daily study of the Composite Man's operations.
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