📜 THE AM TURN
A Wyckoff‑Structured Reading of the Prior Session
Legal Disclaimer: The AM Turn is an educational commentary on market structure and operator behavior. It does not provide investment, trading, legal, or financial advice. All market activity involves risk, and past behavior does not guarantee future results. Readers should perform their own due diligence and consult qualified professionals before acting on any information contained herein.
Issue 2,066 – Copyright (c) 2026. All rights reserved.
Keeping WB's Clock Alive Since 2017
————————-
FROM THE DESK OF WYCKOFF TRADER
"As you study the market each day, remember that its movements are the deliberate expressions of the large interests, and your task is to observe them without haste or bias. In The AM Turn, I ask you to read each session as a lesson from the Composite Man himself, for he reveals his intentions to the student who watches with discipline and an open mind." — Wyckoff Trader
————————-
📜 Good morning. Today is SERIES S1H.
🎛️ Tape Read: 🏛️🐂💲 Early balance → probe higher toward the 15‑handle → test for overhead supply → hold or shallow dip → continuation attempt if supply remains thin.
🧭 Honing Turns: Spill odds down → loupie loop → Last‑Hour odds high
————————-
Key Levels for Today:
*
Upside: 15 handle → 18-20 extension if supply remains thin
*
Support: 91-88 zone (validated) → 94-96 intraday pivot
*
Structure Bias: Higher‑low continuation unless the 94-96 zone fails decisively
————————-
SERIES DAY (ALL TIMES EST — NEW YORK CITY)
🕒 Spill 9:30-9:57
🕒 AM 10:00-10:57
🕒 Mid‑AM 11:00-11:57
🕒 Lunch 12:00-1:57
🕒 Mid‑PM 2:00-2:57
🕒 Last Hour 3:00-3:57
————————-
🧭 Today's Lean
Early balance → test prior last‑hour lows → responsive bid attempt → probe toward mid‑PM rally zone → fade risk late if supply resurfaces.
Why:
*
Last‑hour weakness suggests unfinished business below.
*
Globex recovery shows demand is present but not dominant.
*
Mid‑PM rally zone remains the key overhead test.
*
Structure favors responsive–not initiative–demand on first touch.
————————-
🌤️ MARKET WEATHER
A day defined by early balance giving way to supply, followed by hesitant bids that never fully seized control, with an algo‑driven mid‑PM lift fading into a last‑hour selloff before Globex quietly repaired most of the damage–leaving the tone as reactive demand against persistent but uncommitted supply.
————————-
📜 THE COMPOSITE MAN’S FOOTPRINTS
The session opened with a spill that held for twenty minutes, showing early balance before giving way to supply. This initial weakness set the tone: the Composite Man allowed sellers to express themselves first, letting the market reveal where real demand might emerge.
During the AM period, the tape showed light selling, not aggressive liquidation. This distinction matters: the Composite Man was not driving price lower–he was _observing_ how much supply would surface on its own. The AM formed naturally, not through forced pressure.
The Mid‑AM brought a light bid hitting the offering down, a subtle but important shift. This was not a full reversal–more like the operator testing whether supply was committed or merely reactive. The Mid‑AM formed as price lifted into overhead offers without strong rejection.
By Lunch, a light bid began entering, stabilizing the tape and forming the Lunch low. This was classic Wyckoff behavior: after morning weakness, the Composite Man steps in quietly, not with force, but with _supportive presence_.
The Mid‑PM session delivered a slight rally with an algo rush, marking the Mid‑PM high. This was the day's most energetic moment, but still not a full‑sponsored markup–more like opportunistic lifting in thin conditions.
The Last Hour brought selling with a string of day's lows, completing the S3L structure with a Last‑Hour LOW. This was not panic selling–just a final release of intraday supply as the Composite Man stepped aside to let weak hands finish their business.
Globex later found a bid and recovered most of the cash range, confirming that the late‑day weakness was not structural but merely the final leg of the S3L rhythm.
This was a true S3H day:
* early spill up that failed,
* AM formed on light selling,
* Mid‑AM on tentative bidding,
* Lunch stabilized by quiet demand,
* Mid‑PM on opportunistic lifting,
* Last‑Hour completing the cycle.
The Composite Man was not distributing–he was allowing the market to test itself, stepping in only when necessary. The Globex recovery reinforces that the operator was not committed to the downside; he simply let supply exhaust itself.
This was responsive demand, not proactive accumulation–but it was demand nonetheless.
The Composite Man ends the session in a neutral‑to‑constructive posture. He allowed weakness, absorbed it selectively, and permitted the tape to reset into the close. The Globex recovery shows he is still present beneath the surface.
The Composite Man leaves footprints for those who know where to look.
————————-
⚡ THE COMPOSITE MAN'S BIG TEN
The S&P 500 is no longer 500 stocks.
It's 10 stocks with 490 passengers.
NVDA, AAPL, MSFT | AMZN, GOOGL, GOOG, META | TSLA, AVGO, BRK.B
————————-
✉️ READER'S NOTE
Q: "How can I tell when the Composite Man is absorbing supply rather than distributing?"
A: Absorption is marked by firmness on reactions and a reluctance of the price to decline despite active selling; distribution reveals itself through labored advances and a tendency for the price to fall easily when demand pauses. Study the character of the movement, not merely its direction.
————————-
Dates
📅 February 7 — Dog Moon, 7:11 a.m.
📅 April 21 — Spring Solstice (Equinox), 11:11 a.m. (all times EST)
————————-
💬 FEEDBACK & CORRESPONDENCE
If you have thoughts, questions, or observations about today's issue of The AM Turn, you may write directly to the desk at feedback@wyckoffamtrader.com.
Every note is read with care, and while individual replies are not always possible, your insights help refine the work and sharpen the daily study of the Composite Man's operations.
————————-
Subscribe to The AM Turn
To receive The AM Turn in your inbox before the opening bell each trading day — complete with full Wyckoff analysis, turn seals, and Composite Man interpretation — you may secure your subscription here:
https://buy.stripe.com/fZe00T33v0ukd208wy
————————-
(c) 2026 The AM Turn. All rights reserved.
This commentary is intended for private circulation. You are welcome to share the newsletter with others whose judgment you respect.
Comments are closed