Issue 1,859 – Copyright, 2024, by Wyckoff AM Trader
Daily: One item of note is the 10 MA. I don't' use it but a lot of traders do. IT turned back price yesterday. That and the previous day's close. The smack down for the most part found support at the halfway retracement from March 13th. That would have been the prior pervious day's low.
Yesterday Intraday: Good morning. Today is SERIES S4L Normal with the spill up. Still waiting on the clock to settle due to daylight savings but for the most part I'd say it was an S4L day.
IMPRO: Wyckoff Trader :(8:47:58 AM) : Good morning. Today is SERIES S4L
IMPRO: Wyckoff Trader :(10:09:37 AM) : Lookin lik the path to least resistance is to to down side for now
IMPRO: Wyckoff Trader :(11:21:21 AM) : Yes S4L they are doing today what I thought they do yesterday
IMPRO: Wyckoff Trader :(2:12:35 PM) : bears have their shot; they should take it
5. Cycle Bias: Those SEP lows from last year are just begging to be tested. When? Today, Tomorrow, Next day? That up to the bulls to drop the soap. Price has been trading at the low for nearly all day's for the past 13 days. You might see a quick shake out then onward and upward providing the timing is right.
Yes that all happened Friday a rally from Thursday's low. Now, Monday those lows may get tested again at a higher low. This is providing there is no supply down at those levels. Well that did not happen Monday. Perhaps today?
I'd say we tested some of those lower levels. Bears were unable to take price lower. They tried. A 50 minute down wave was followed by at 40 minute upwave that retraced a few handles but not a lot. A 60 minute down wave was the bears last stand. This was followed by a 40 minute up wave. A 30 minute down wave failed to print a lower low.
The bulls were emboldended and lifted offers for 40 minutes. A dip down for 30 mintues holds a second higher low. A quick up move for 30 minutes wetbeaks the current potential accmulation. The day end with a quick dip and then a rip.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S1H with the spill down. I would anticipate trying to find the end to this reaction from the Globex high. The open may take price lower to find support around the CASH open.
1. Last Night: After the close the BUY light was turned on and price riped up to a new high and then sold off back down to support.
2. Large Size: About 2K came in on the bid at 4:00 AM and held the 61 handle. Again at 5:00 AM at the 68 and 6K at 8:00 AM tried to hold the 79 handle.
3. 7:00 AM / Premarket: Nothing moving the needle waiting on the open and then 2:00 PM Yell.
4. Todays News: Atlanta Fed Business Inflation Expectations at 10:00, EIA Petroleum Status Report at 10:30, Treasury Buyback Announcement (Preliminary) at 11:00, 4-Month Bill Auction at 11:30, FOMC Announcement at 2:00, Fed Chair Press Conference at 2:30, Treasury International Capital at 4:00. All times EST
5. Cycle Bias: It's a FED day. If you are looking for who did what . . . you won't find them in those documents. You can see support coming in at the lows and resistance coming at the highs. IT's a trading range on a FED day. Go figure? Let's just see how price trades and keep your powder dry.
6. Honing (turns): Spill down, AM HIGH, loupie loop, LAST ODDS HIGH
7. Previous Day's Numbers:
Open 5708.75
Hod 09:31 5711.25
Lod 11:58 5650.75
Settle 5674.25
Volume 1,003,053
8. Floor Trader Pivots
DAILY 5678.75
R2 5739.25
R1 5706.75
S1 5646.25
S2 5618.25
WEEK 5631.00
Range 60
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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