Issue 1,850 – Copyright, 2024, by Wyckoff AM Trader
Yesterday: Good morning. Good morning. Today is SERIES S2H with the spill down.
Yes I should have added iffy. I wanted to. Blame it on the browser. It felt S2L. You never know till CASH opens.
Let's talk about it. WB often looked at premium the SPOTS were derived from it. He used Hank's numbers. I don't think they ever met but they should have. I use PREM.
Do I understand it? Of course not. Only one man that I know of is Hank. Here a conversation we had:
IMPRO: Wyckoff Trader :(8:49:06 AM) : Good morning. Today is SERIES S2H with the spill down.
IMPRO: Wyckoff Trader :(10:26:39 AM) : everyone seems to be in agrement in the dow30 to hit the sell button
IMPRO: Wyckoff Trader :(10:32:02 AM) : hank; what happened around 10:44 where the prem poped up to 22 and the prnq poped up to 108?
(Hank is on Chicago Time. WB was on NY time. He said it was the Prostadts against the Catholics. I went on the wrong side I meant 9:44)
IMPRO: HL Camp :(10:44:21 AM) : Here you go Keith = PTOneMinute 08:46:23 check out the premium ↩
When I saw that PTOneMinute post. I felt great. PTOneMinute is a girl and a very good trader according to Hank. I thought; "Great Minds Think Alike!"
IMPRO: HL Camp :(10:44:35 AM) : ✖ HLCamp 08:47:22 PREM is a function of ….. ✖ HLCamp 08:44:54 The globex engine is super thin = prices are all over the place
IMPRO: HL Camp :(10:44:48 AM) : ✖ HLCamp 08:48:22 and trying to clearn 10,000 ES and the price moved 14 handles!
IMPRO: HL Camp :(10:44:58 AM) : ✖ HLCamp 08:48:29 that drives the prem straight up
IMPRO: HL Camp :(10:45:04 AM) : ✖ HLCamp 08:49:19 normally this week ES is 2000 X 2000
IMPRO: HL Camp :(10:45:13 AM) : ✖ HLCamp 08:49:26 right now it is 500 X 500
IMPRO: HL Camp :(10:45:46 AM) : hope that helps
IMPRO: Wyckoff Trader :(10:46:10 AM) : Thanks yes!!!!
IMPRO: Wyckoff Trader :(10:47:20 AM) : illiquid in a CASH market; not a good day to trade
IMPRO: Wyckoff Trader :(11:00:37 AM) : Thanks so much Hank, I forgot to look at the range as a function of the volume and premium
Hank is alot like WB. You got to read his posts and decipher them. It was like a light went on. Ephinay!!!
I really couldn't thank him enough. IT's the range, we know it's a buyer that lifts the price up 14 handles on volume of 20,000 lots. That's telling me there is no supply. There are no offerings. The buyer is taking everything that offered up to that 14 handle run. The prem and prnq is seeing this and responding. We have a buyer but the COMPOSITE MAN is not ready to start the marketing up campaign.
It's effort vers result. Supply is not being pressed upon the market and the result – the price moves 14 handles. Price drifts back down till 10:25 center time AM LOW. Notice a 10 minute rally up quickly recovers the last 30 minutes loss. Then a slow drift back down for an hour prints a higher low. There is no MID AM turn. Lunch high is taged about 1:10 PM. The mid pm low is higher with the seal at 2:30 PM.
And the LAST HOUR HIGH is printed at you guessed it 3:25 PM center time.
PRE PROSE:
There are many injustice in this world. One of those injustices is a million-dollar actor, who gets up to recover a reward and talks five minutes how we should make this world a better place. Asks everyone to get along, roast marshmallows over the campfire and go do a group hug. My only question is that true sincerity or is that great acting?
Acting and Trading is one of the few things you can do to make good money and not have any formal training…
Ok I could say a lot about the speech tonight. I'm sure everyone has their opinion – so I will keep mine. I will say I was not aware that ENGLISH is NOW the OFFICIAL LANGUAGE of the UNITED STATES OF AMERICIA. That I did learn. What's that like 10, 25, 20 years too late? That will last about three and half years.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S3L with the spill up.
1. Last Night: At least GLOBEX did not respond to Trumps speech. Price just traded around the settle. Currently on a down move looking for a spring of yesterday's low.
2. Large Size: Not seeing any large size to note.
3. 7:00 AM / Premarket: Nothing to move the needle. Trading right are unchanged and daily pivot.
4. Todays News: ADP Employment Report at 8:15, PMI Composite Final at 9:45, Factory Orders & ISM Services Index at 10:00, EIA Petroleum Status Report at 10:30, Beige Book at 2:00. All times EST
5. Cycle Bias: Ok I said that the last two days last week. Volume has increased on both days. By that I'm feeling that price will need to test the lows before heading back up. Yes. And now, looks like we are doing just that! Let's see if today turnaround Tuesday or that might be going to take price lower.
Well it was more turn around Tuesday. Let's see what happens after Trumps speech.
6. Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST LOW
7. Previous Day's Numbers:
Open 5984.75
Hod 09:34 5997.00
Lod 15:45 5821.75
Settle 5870.00
Volume 2,208,320
8. Floor Trader Pivots
DAILY 5896.25
R2 6071.50
R1 5970.75
S1 5795.50
S2 5721.00
WEEK 5957.58
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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