WyckoffTrader-AMTurn-01022024
YES. I have skin in the game. I trade my own personal account. Sardine / Tuna / Billfish trades are for educational purposes only. I am NOT a futures broker and do not manage any accounts. It is my intent to show where trades may occur. What you do is up to you. You can follow my IDEAS to profit or loss. You determine trade size, when, where and how you trade. (CFTC) Futures is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest, know how much you can afford to lose.
NEWS / FUNDAMENTALS
(Reuters)
Stocks turned in a lackluster performance during trading on Thursday, extending the choppy trading seen throughout much of the week. The major averages eventually ended the session narrowly mixed. The choppy trading on Wall Street came even after the Labor Department released a report.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Just wanted to say thank you for your subscription. Learning the clock is not easy. And some day's it's just muddy. As we near / enter the new year 2024 it will be the most stressful / thumundious (spell) year of your life. And there are many reasons for this. The one's I'm referring to is not politicial.
Thank you for the suggestions for improvement you've given me. Over the comming day's / weeks I will start implementing those suggestions.
As I discussed, I saw selling Wednesday and Thursday. I was glad when after the AM HIGH around straignt up center time 10:30 am the bulls just gave it up droped the soap and let the bulls run with the ball.
For the next two hours 120 minutes it looked like the bears were going to rule the day. Then the MID AM LOW pop in. A hour later 60 mintues. The close gives you a hint that the low may soon be in.
If you got out of your shorts as you went short on the dive down the MID AM LOW was the best place to get out and enjoy the rest of the day.
You can see the volume climax around 12:30 pm as price gets oversold. The confrmation comes on the rip back up as all the weak hands are out and the strong hands enter back in. Still is was a day before the holiday. It's known for it's bearish tendencies.
As the lunch high seals late and strong around 1:50 pm you get the hint the mid pm low may be early and weak. It seals by 2:15 pm and the market marches on to the LAST HOUR HIGH. The lunch high seals at 3:30 pm and then price trades back down to end the day, week, month and year.
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good morning today is SERIES S3H NORMAL with the spill up.
News: PMI Manufacturing Final at 9:45, Construction Spending at 10:00. All times EST.
Last Night: Price opens gap up and prints a strong push up. Price is checked at the 23 handle and trades within a 8 handle range as price lacks direction for next move. And then the bears released the cracklin. The support stock that was taken was thrown overboard as price took out supports from the past five days.
Edge: It's the bulls ball to lose. Potential strong hands to weak hands are price gets too oversold and indicates potential strength.
7/8/9 AM: Price got itself oversold at a previous support. Potential rally from here providing the news is at the bulls back.
Today: Bulls will need to recover last hour high from Friday of last year.
Bulls Want: 04, 14, 28
Bears Want: 70, 62, 51
Globex: 51 handle trading range on 208 volume.
Cycle Bias: Favored to the bear.
Tone: VIX trading at 12.45
Shape of the day: Low volume grind
Last week of the Santa Clause rally.
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Out driving out to the Hamptons. OUT
Tuna (30m 1+D) Out driving out to the Hamptons. OUT
Sardine (5M-1D) Stayed out due to the grind. OUT
Pre Opening: A bid is starting to come in around the 81 handle.
Could see some games being played the last few days of this week. Job with FED minutes and Jobs Reports.
The clock is used for timing your entries and exits. Position long at the lows exit at the highs. Get short at the highs 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: December 26 Cold Moon 10:33 pm. Winter Equinox December 21 10:27 pm (all times est)
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