Issue 1,844 – Copyright, 2024, by Wyckoff AM Trader
Yesterday: Good morning. Today is SERIES S2L with the spill up.
1. Last Night: This is not going to be easy for the bulls. After a strong CASH close Globex has tried it's best to erase all the gains. At least half of them.
5. Cycle Bias: Perhaps we got the ear of corn yesterday with the S1H. Today will tell if we get the KEWPIE doll?
Potential dog leg from lunch high down to mid pm low.
6. Honing (turns): Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HIGH
It was not easy for the bulls. And I think we got the KEWPIE DOLL! And saw a dog leg. It was a bit muddy regarding the clock but a class Wyckoff trading day!
IMPRO: Wyckoff Trader :(8:37:09 AM) : Good morning. Today is SERIES S2L with the spill up.
IMPRO: Wyckoff Trader :(1:00:04 PM) : Today is the KEWPIE DOLL day!!!
IMPRO: Wyckoff Trader :(1:00:24 PM) : It's the one day WB can be wrong…
IMPRO: Wyckoff Trader :(1:01:24 PM) : WB would often talk about the Maionaize Doll
IMPRO: Wyckoff Trader :(1:01:36 PM) : It's say If I
IMPRO: Wyckoff Trader :(1:01:51 PM) : Right… we get the kewpie doll!!!
IMPRO: Wyckoff Trader :(1:02:11 PM) : What it really means is his lean is in concreate teh next threee days
IMPRO: Wyckoff Trader :(1:02:23 PM) : S2, S3, S4
IMPRO: Wyckoff Trader :(1:02:41 PM) : It's referencing the S1 day, Did he nail it?
IMPRO: Wyckoff Trader :(1:02:55 PM) : If so, then we get the kewpie doll
IMPRO: Wyckoff Trader :(1:03:12 PM) : If not then the cycle reversed and had an inversion
IMPRO: Wyckoff Trader :(1:03:34 PM) : He just kept is simple and said kewpie doll
IMPRO: Wyckoff Trader :(1:05:33 PM) : what we really know is potential selling climax at 10:00. Automatic Rally at 10:30. And secondary test at 11:00. It indicates the down move has been temporarly haulted. If it is not haulted, then was the pliminary climax, now looking for the selling climax
IMPRO: Wyckoff Trader :(1:05:54 PM) : Till then it
IMPRO: Wyckoff Trader :(1:05:58 PM) : s
IMPRO: Wyckoff Trader :(1:06:20 PM) : a trading range from the selling climax up to the automatic rally
IMPRO: Wyckoff Trader :(1:08:52 PM) : He has phases. this is proabbly a B phase, he would be looking for a sign of strength out of the trading range and then a pull back just above it of just into it. He call that a jump across the creek
IMPRO: Wyckoff Trader :(1:08:58 PM) : you are welcome
IMPRO: Wyckoff Trader :(2:10:49 PM) : now looking for a sign of strength to get out of this range
IMPRO: Wyckoff Trader :(2:21:26 PM) : it's now or never for the bulls
That really says it ALL!
Every Wyckoff tape reading element is covered in that and yesterdays trade. Price opens at the halfway mark, below the floor trader daily pivot and below the close. That's telling you a bunch right there. They tried to buy it the first 5 minutes but failed. Some bigger traders say they had orders to sell about 60,000 lots. I'd say they got that done.
By 9:45 AM price was on a slipery slope downward. By 10:00 it was not. Please read that above. It tell you all you need to know. IT should have not come as a surprise as the market traded in a range till about 2:00 PM where a series of higher highs and lows had been established. The big tell were the floor trader pivots S2 and S1.
Price just traded around S2 until it was ready to start drifting back up.
Heard in the chat:
IMPRO: JB :(10:00:35 AM) : Toll bros yesterday, Wal mart today flashing signs of eco weakness I think.
IMPRO: JB :(10:01:38 AM) : Toll bros serves the rich, Wal mart the poors. Slowdown!
PROSE and THE NUMBAHS
Good morning. Today is SERIES S3L with the spill up.
1. Last Night: This might be the day. After a strong close off the lows, price hold the high and does not get over it's skies.
2. Large Size: No large trader size to speak of.
3. 7:00 AM / Premarket: Currently before the 8:30 numbers there is no lean. Price is just holding the CASH highs.
4. Todays News: PMI Composite Flash at 9:45, Existing Home Sales & Consumer Sentiment at 10:00. All times EST
5. Cycle Bias: This day is about holding what you got from the previous day currently price is doing just that. IT COULD CHANGE… Most are saying that WMT was the engine that drove the market down yesterday. If shares changed hands from weak to strong and the composite man is ready to start marketing up – then perhaps a move up today. If not the at least hold you got kind of day.
6. Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST LOW
7. Previous Day's Numbers:
Open 6148.50
Hod 09:33 6150.00
Lod 10:02 6102.75
Settle 6131.00
Volume 1,196,040
8. Floor Trader Pivots
DAILY 6127.92
R2 6175.17
R1 6153.08
S1 6105.83
S2 6080.67
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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