Issue 1,898 – Copyright, 2024, by Wyckoff AM Trader
I'd like to tell you I know where price is going. I'd like to tell you price is too high and overbought so start to look for a pull back. I'm sure there are some pundits would say that. I'm remember back when I was a broker. Not that I would but I knew some who did and perhaps I did it too…
You recommend two stocks. You call two different groups of people. You get each group to buy their recommended stock. You wait. You wait till one stock is in the RED which you never call those folks again. And the other GREEN. I call them up and tell them what genius market timer you are. And they buy more…
So yea, I'm thinking price is still going up. It will go up until it does not go up any more…
IMPRO: Wyckoff Trader :(3:25:47 PM) : monthly R1 is 5926 that a good run for the month
IMPRO: Wyckoff Trader :(3:26:03 PM) : daily R2 was 5919 handle
Take that for what it's worth!
DAILY:
IMPRO: Wyckoff Trader :(10:40:39 AM) : this market has not choosen a direction yet; small lean to the bulls
IMPRO: Wyckoff Trader :(10:42:09 AM) : bulls holidng S1 and previous day's low
IMPRO: Wyckoff Trader :(10:42:57 AM) : and working on taking out the supply line from yesterday
IMPRO: Wyckoff Trader :(10:43:23 AM) : bulls own the 89 and 91
IMPRO: Wyckoff Trader :(11:04:38 AM) : bulls catching a win
IMPRO: Wyckoff Trader :(1:29:30 PM) : I'm just gald we locked in an outside day
TO me that says it all. Outside day.
IMPRO: Wyckoff Trader :(1:04:50 PM) : looks like some volume coming in on this push up; that good for the bulls keep em rolling
IMPRO: Wyckoff Trader :(3:09:45 PM) : potential upthrust on the daily today or tomorrow if bulls drop soap
IMPRO: Wyckoff Trader :(3:11:57 PM) : intraday support line respected
IMPRO: Wyckoff Trader :(3:17:38 PM) : price still respecting the support line
IMPRO: Wyckoff Trader :(3:21:39 PM) : NDVA dragging it down
IMPRO: Wyckoff Trader :(3:22:12 PM) : since 2:36 PM
IMPRO: Wyckoff Trader :(3:29:15 PM) : META falling out of love on some volume
As I'm typing I got Tony Robbins and Dean Graziosi scouting for dollars with a free webinar. He asked a question; "If you could do this or that what would you do?" Then he ends if with you don't have to do either. Well the market doesn't work that way! Sure, it has three states Bullish, Bearish or Resting. The Resting is Accumulation or Distribution.
Now, I can't tell you if we were in Distribution from Tuesday and Wednesday and Thursday was an upthrust but we will know today.
YESTERDAY INTRADAY
[ Good morning. Today is SERIES S2L. ]
IMPRO: Wyckoff Trader :(8:48:27 AM) : Good morning. Today is SERIES S2L IFFY.
At the start the room was against me. That's ok I'm useted to it. It's not a big deal to me. I know my edge and I'm sure they know theirs. Some of the best traders I ever knew are in that room. And some of the best traders that have ever lived have been in that room. And I miss them all. I remember that one guy that would scalp for dog food. And those fun times with WB.
IMPRO: Wyckoff Trader :(12:15:39 PM) : hank would have probally said algo 111 marking up the hourly chart boys and some retail just bought the high going out the door to drink to find some buy orders
IMPRO: Wyckoff Trader :(12:17:07 PM) : and that is a high but maybe not the high
IMPRO: Wyckoff Trader :(12:18:00 PM) : bulls have taken this logrythemic
IMPRO: Wyckoff Trader :(12:18:31 PM) : PQ would have said that; It's gone up so far, so fast it looks like it's going back in time
IMPRO: Wyckoff Trader :(12:18:52 PM) : WB would have been talking about Free Lobomoties
IMPRO: Wyckoff Trader :(12:29:18 PM) : yea I missed a one (1) sorry; glad you agree @Manny S2L
What's more important is to look at the time stamps. I can pretty much channel anyone but that Lambardi guy with all those levels.
The clock knocked it out of the park yesterday. Simply put:
AM LOW center time 10:35 AM.
NO MID AM.
lunch high center time 1:30 PM.
mid pm low (dog leg) 2:20 PM.
LAST HOUR HIGH (weak) last print.
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S3L.
1. Last Night: Are the PEONS over thier skies? The took price higher up to the 50 handle.
2. Large Size: No large size to speak of.
3. 7:00 AM / Premarket: Not seeing anything moving the needle yet.
4. News: Housing Starts and Permits & Import and Export Prices at 8:30, Consumer Sentiment at 10:00. All times EST.
5. Cycle Bias: Bulls will need to hold what they got till the next shoe. They put in a good run yesterday, let's see what they have today.
6. Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST LOW.
7. Previous Day's Numbers:
Open 5889.00
Hod 13:23 5944.50
Lod 09:48 5884.50
Settle 5937.25
Volume 1,034,217
8. Floor Trader Pivots
DAILY 5922.08
R2 5982.08
R1 5959.67
S1 5899.67
S2 5862.08
WEEK 5733.00
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: June 11 Strawberry Moon 3:44 a.m. Summer Solstice (Equinox) June 20 1:41 p.m. (all times Est)
Comments are closed