Issue 1,879 – 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:
Price tried to challenge the Wednesday and Thursday highs from last week and failed. After the probe price retreats back and closes slightly off center. This is not indicating a strength on either side. Looks like we might have a little pullback. I said that the day before and we are starting to get some of that!
Yea, that's kind of of what I was talking bout. Still got some more room to get to the halfway retracement. Dalton always said; "Halfback!" We never saw eye to eye. He's a condescending man. Looks like he could have given Wyckoff the credit for "Halfway." What I'm saying is; "We got some more to go!"
YESTERDAY INTRADAY
[ Good morning. Today is SERIES S1L. I would anticipate – Price may try to retrace the lows of Globex. May try to go lower. Lot of room to free fall.
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. I can't improve upon this. Maybe some pullback today.
6. Honing (turns): Spill odds up, loupie loop, LAST ODDS LOW.
I'm not bearish but I do think price is going to pull back. ]
This day is odds and probabilities. Sure we hit the odds today. We didn't go full tilt. I trust on one did. By 11:30 AM they were trying to challenge the highs but you know where that goes. There is no magic pill. Trump is going to hold and China is not gonna fold. It's a game of chicken full on.
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S2H. I would anticipate – https://www.youtube.com/watch?v=1lWJXDG2i0A Lot of room to free fall. (you know the song)
1. Last Night: Price is trying to work its way to test the CASDH lows.
2. Large Size: Bearish pushing down.
3. 7:00 AM / Nothing moving the needle.
4. News: Retail Sales at 8:30, Industrial Production at 9:15, Business Inventories & Housing Market Index at 10:00, EIA Petroleum Status Report at 10:30, Powell: 'Obligation' to keep inflation expectations anchored 1:30. 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. I can't improve upon this. Maybe some pullback today.
6. Honing (turns): Spill down, AM HIGH, (NO AM), lunch low, mid pm high, LAST LOW.
7. Previous Day's Numbers:
Open 5403.00
Hod 5425.00
Lod 5299.00
Settle 5425.00
Volume 1,480,000
8. Floor Trader Pivots
DAILY 5383.00
R2 5509.00
R1 5467.00
S1 5341.00
S2 5257.00
WEEK 5251.00
Range 126
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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