Issue 1,842 – Copyright, 2024, by Wyckoff AM Trader
Yesterday: Good morning. Good morning. Today is SERIES S4H with the spill down.
3. The Zoom should start anywhere from the MID AM LOW (11:00, 11:30, 11:57)
4. Expect to see a Zoom from the PEON close up to the lunch. It should recover and set a new intraday high.
5. Ideal Wedge Zoom is a Zoom from the mid pm low (2:00, 2:30, 2:57) due to the time factor that catches the "sleepy shorts." And Zooms up into the close.
Three doors: Normal, Wedge Zoom, Link Stink.
That should say it all. It was a Wedge Zoom. No reason for the market to fall apart. Wyckoff would say a temporary minor area of weakness in a major dominate area of strength. I've said it many different ways. There is no reason for this market to fall apart. Everyone is investing in the USA.
Price just drifts down to the halfway retracement, the close, and the daily pivot of the previous day. Finds a bid. Volume comes in and bulls lift the market. If you look at the last 10 minutes of the close, you can see volume expanding as price starts to expand. That's a good sign. A bullish sigh.
IMPRO: Wyckoff Trader :(8:36:32 AM) : Good morning. Today is SERIES S4H with the spill down.
IMPRO: Wyckoff Trader :(12:00:59 PM) : This is a tuff day for a lean; I'l say bulls in the last hour
IMPRO: Wyckoff Trader :(12:01:21 PM) : they need to hold that 33 handle
I was looking at the Wedge Zoom. As traders we tend to lean toward the "sure thing." We don't always get the sure thing….
PROSE and THE NUMBAHS
Good morning. Today is SERIES S1H with the spill down.
1. Last Night: Price tried to wetbeak over the previous weekend Globex secession and failed. Started to drift back down.
2. Large Size: Around 7:00 AM some larger size came in around the 35 handle lifting the price off it's decline.
3. 7:00 AM / Premarket: For now nothing really moving the needle. Looks like price may string the previous day's low to decide a direction.
4. Todays News: MBA Mortgage Applications at 7:00, Housing Starts and Permits at 8:30, Atlanta Fed Business Inflation Expectations & E-Commerce Retail Sales at 10:00, Treasury Buyback Announcement (Preliminary) at 11:00, 4-Month Bill Auction at 11:30, 20-Yr Bond Auction at 1:00, FOMC Minutes at 2:00. Waiting on the PPI.
5. Cycle Bias: For now at least the S4H day ended strong with the Wedge Zoom closing out the day. We could have an inversion and retert into a S1L day. Perhaps all teh weak hands are out and the Composite Man is ready to start to marking up campaign. We need a catalyst. Perhaps 2:00 PM notes. Perhaps not.
6. Honing (turns): Spill odds down, loupie loop, LAST HOUR ODDS HIGH
7. Previous Day's Numbers:
Open 6143.25
Hod 16:01 6149.50
Lod 14:21 6118.25
Settle 6147.25
Volume 910,739
8. Floor Trader Pivots
DAILY 6138.25
R2 6169.50
R1 6158.25
S1 6127.00
S2 6107.00
WEEK 6098.00
The clock is used to time your entries and exits. Position long at the lows, exit at the highs, get short at the highs, and buy-in at the lows. When the trend is in, WB's clock is your friend!
Your edge is a series of trades, not just one trade or one day.
Dates: February 12 Snow Moon 8:53 a.m. Spring Equinox March 20 5:01 a.m. (all times Est)
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