WyckoffTrader-AMTurn-01122024
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)
After turning lower over the course of morning trading on Thursday, stocks staged a notable recovery attempt in the latter part of the session. The major averages climbed well off their worst levels of the day, eventually closing roughly flat. Consumer price index climbed by 0.3 percent in December.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
If you have seen the video I made yesterday I talked about how the last buying wave was greatly reduced in time and distance. This indicates supply coming into the market. As Globex played out Thursday night you could see that a bid was held. Then a rally challenged the current December high. Nothing good ever comes from the market when the PEONS get over their skies.
BY 4:00 am price had already tested the high and by 6:00 am price had found the low. As the market opened the CASH high was probed for 5 minutes and then the bid just fell out. A strong move down for 40 minutes sealed the spill down. The day was S4H so, it did not look good for the bulls. A 20 minute move up seals the AM HIGH at 10:30 am.
And 30 minute later we are testing the low. Notice the previous rally was due to the shorts covering as the previous day's low is in view. By 11:10 am the bid just would not hold. Liquidation breaks out as price plunges through current supports.
We are looking for the AM LOW. Odds would be as the morning trade comes to an end and the lunchtime SLOG begins. You can see at 11:15 am volume surges as price start to tighten up. At 11:50 am you can see a rally peak out above the trading range. Then a rally for 20 minutes and a reaction to the halfway retracement.
If you were waiting for the all clear sign, that would be it at 12:40 pm. The strong hands now were the bid. The weak hands gave up their shares at 10:10 am and 11:10 am earlier that day.
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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 S1H with the spill odds down.
News: PPI-Final Demand at 8:30 AM ET. All times EST.
Last Night: Traded sidways till about 4:00 am. Made a run for the highs and failed. Currently in a down trend holding big even waiting on the news..
Edge: From the street side yesterday was unchanged. Perhaps the PPI will move the needle today. (bull side)
7/8/9 AM: Shake out to the 91 as price recovered the 4800 waiting on numbers.
Today: PPI to move the needle today.
Bulls Want: 08, 17, 21
Bears Want: 94, 88, 73
Globex: 30 handle trading range on 228 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.79
Shape of the day: PPI may set the tone for the rest of the week.
Bigger traders are back in town as well as politications. Should start to see some real direction.
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Held their longs from the previous day. LONG
Tuna (30m 1+D) Held their longs from the previous day. LONG
Sardine (5M-1D) Got long at MID AM LOW and got out at lunch high. OUT
Pre Opening: After the numbers price made a goal to take the Globex to a new high and found supply. Currently holding at highs.
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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