Issue 1,876 – Copyright, 2024, by Wyckoff AM Trader
Happy Independence Day! (second week after)
I've seen enough pundits try to put their spill on this. I get it. Drive factories back to America. My question might be what drove them away? Oh, I know that answer but does Elon? I don't think skill is a problem, but I do think will – might pose a big challenge. And that goes down the rabbit hole…
DAILY:
Let's say the average move in the Emini is about 233 handles. Yea that's a fib number. At the opening nothing but one by ones. The first one or two hours is a scared roach dance. Stops for some are 8 to 12 points away. We are halfway through the month and still trading off lows. The weekly looks the same as the months.
YESTERDAY INTRADAY
[ Good morning. Today is SERIES S4L. I would anticipate – After a hard showing by the bulls it may be the bears turn and play. I'll double down again today.
Yes, this look quick flip to S4H Series Day. Blame it on the soap drop.
Price drifts down spill down seals around 9:40 AM. AM HIGH comes in early at weak at 10:10 AM. Mid pm low tad just at center time 10:20 AM. This is more of a hook as the bears drop the soap. The bulls are emboldened at start to lift the offers. The next turn is the lunc high. There is plenty of time for the lunch high.
The seal is just before two at 1:35 PM. Mim pm low about center time 10:20 PM. The LAST HOUR HIGH is weak. This indicates the bulls have exhausted their forces.
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S3L Normal. I would anticipate – After a hard showing by the bulls it may be the bears turn and play. I'll double down again today. After Friday's weak close, I'll make it a triple double down.
1. Last Night: Price has held the Friday settle. And now after Trump's speech trading higher at 5468 handle.
2. Large Size: Some larger size on the bullish size has held the bid.
3. 7:00 AM / Premarket: Nothing to move the needle. Trading in a 21 handle range.
4. News: No news of note. All times EST.
5. Cycle Bias: I'm still leaning bullish, perhaps a little bit more downside action. Let me explain, Wyckoff often talked about a major sign of strength with a minor sign of weakness. The is the part of the sign of weakness.
6. Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST LOW.
7. Previous Day's Numbers:
Open 5299.00
Hod 5418.00
Lod 5206.00
Settle 5395.00
Volume 1,680,000
8. Floor Trader Pivots
DAILY 5339.50
R2 5551.50
R1 5473.25
S1 5261.25
S2 5127.50
WEEK 5251.00
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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