WyckoffTrader-AMTurn-01102024
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 moved mostly lower in early trading on Tuesday but regained ground over the course of the session. The major averages climbed well off their worst levels of the day, with the tech-heavy Nasdaq peeking above the unchanged line. Traders looked to cash in on Monday's strong gains amid uncertainty.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
The best way to understand yesterday's price action is to look at yesterday's (Monday's) price action. Notice a hard move. Call it a grind. I made a video if you have not seen it let me know. It's all marked up with minute by minute revelation is price and volume. It's not a replay. As you look at it, you'll see as the price starts the afternoon rally volume start to increase.
Now, notice at 3:00 pm you get a volume surge and price moves sideways for 30 minutes. In the video I talked about how the public was coming in as the professionals were able unload some of their holdings from eariler that morning.
Then after the close and settle price starts to drift and hold at the 97 handle. Later that night the bid drops out. And by the time 7:00 am a bid starts to creap in but does not hold. By 9:00 am you start to see a shortening of the downward thrusts. Before the open you can see a grouping at the 72 handle.
At 10:10 am to 10:20 am you can see a strong push up and then price starts to drift down to 11:00 am. For the next hour you can see a strong rally of higher highs and higher lows. From 12:00 pm to 1:00 pm it looks like accmulation to push price to take out the close but a shelf of supply was waiting on the other side and price behavior changed.
Notice the volume has now increased to the low low. As the rally to the mid pm high it takes more volume to recain the loss. This is telling you stronger hands are unloading thier positions into weak hands.
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We are wrapping up this year and grinding into
the next. If Momma gets thrown from the train
1. Average an aggressive market cam move about 150 points in one day.
2. If Algo's decide to go all out REO and "Take It All Away" you could see a 500, 800 to God help us 1,300 point move in a day, across days or a week. Perhaps a month if there is no bid in sight.
3. That is if this market starts to take notice on the news and current events.
Until then…Don't miss any Future FREE Webinar invites or Daily email UPDATES.
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good morning today is SERIES S3H IFFY with the spill down.
News: International Trade in Goods and Services at 8:30. All times EST.
Last Night: Probed the low of 86 handle. Found a bid. And probed the high of 04 handle. Traded back to the close around 93 handle.
Edge: Either potential Distribution or potential Re-Accmulation. Need to reclaim close and high from yesterday.
7/8/9 AM: In a 10 handle trading range from 89 to 98 handle. Looking for news to break out either way.
Today: No news to rally the troops. Bulls will need to hold what they got. (same today)
Bulls Want: 89, 97, 03
Bears Want: 71, 62, 54
Globex: 18 handle trading range on 128 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.81
Shape of the day: We could be in a holding pattern waiting for the CPI / PPI release later this week.
Bigger traders are back in town as well as politications. Should start to see some real direction.
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Now back in the fray looking for an edge. OUT
Tuna (30m 1+D) Now back in the fray looking for an edge. OUT
Sardine (5M-1D) Stayed out due to the grind. OUT
Pre Opening: Price is trading in middle of Globex and CASH reaction range.
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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