📜 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 2,063 – 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
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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🧭 S3L Daily TURN SUMMARY
A concise ledger of yesterday's dominant intraday structures.
Daily Classification: S3L — More of a nothing burger with a wild range
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🦶 The Composite Man's Footprints
S3L Day — Low of Day at 11:55 New York, followed by a bid to recover half of the day's loss
Composite man spent most of the morning session shaking out the weak hands up to 11:00 am. Then, seeing there was interest, started to offer back down the shake out the weaker hands.
By 12:55, you can see perhaps a news catalyst, price just hits the bid on the way back down to the 12:55 pm low on slightly increased volume. This low "wetbeeks" the current morning low.
The bulls are encouraged to take the lead for the rally as 2:30 pm fails to take out the current intraday high. This is typical for an S3L day due to the mid pm. high being the last high of the day.
As the last turn is the LAST HOUR LOW, the price closes off the current high. This reaction gives back slightly over the halfway retracement.
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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(c) 2026 The AM Turn. All rights reserved.
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