WyckoffTrader-AMTurn-01182024
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 coming under pressure early in the session, stocks remained mostly lower throughout the trading day on Wednesday. The major averages added to the losses posted during Tuesday's session, with the Dow falling to its lowest closing level in almost a month.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Looking at the Weekly Pivot at the top of the page you see the 4788.75 as the water level mark for the bulls and the bears. Now, often I'll see it but I don't respect it. It's the simple things that give you consistency. Tonight I drew a line on the chart. It doesnt' mean I'll follow it but at lesst it's there.
The market opened with the move to the downside for thirty minutes and then an up move for a hour and fifteen mintues. And then you saw the death star you saw the day before. Price was held in check for about an hour at the same high handle.
A down move for an hour and fifteen minutes follows that take away just about all the gains of the day. Then a rally to recover half the reaction. It's a normal rally so we really don't have a read either way. Then fifteen minutes later we see liquidation entering into the equation.
Price gets oversold at 1:50 pm. A bid comes in and recovers 5/8 of the reaction. This is now showing strength. Price moves down at 3:30 pm and gives away just half of the rally. This expands a potential base of support.
Notice from 3:30 pm to close price moves up on greatly expanding volume as price entends upward in gains.
By my eye, bulls are showing strength. Price moved down but was unable to gain a following to follow on increased volume. Price rallies off the lows on increased volume and closes almost to reover the day's high.
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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 S3L with the spill up.
News: Housing Starts and Permits & Jobless Claims & Philadelphia Fed Manufacturing Index at 8:30, EIA Natural Gas Report at 10:30, EIA Petroleum Status Report at 11:00. All times EST.
Last Night: As I said on page 4, I'm just not seeing pressing supply and last night confirmed that by holding at the 3/8 retracement and then ralling to recover the CASH high.
Edge: It's now or never for the bulls. If they lose these supports could see retracement back to the lows.
7/8/9 AM: Recovered the 70, 80, and now 90 and pressing higher.
Today: Perhaps the low is in and it't the bulls ball.
Bulls Want: 00, 07, 12
Bears Want: 81, 74, 65
Globex: 30 handle trading range on 208 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 14.32
Shape of the day: Normally this day is a tight trading range.
Bigger traders are back in town as well as politications. Should start to see some real direction.
Honing: Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW
Bill Fish (4H/4D) Went LONG on the 3:00 pm pull back. LONG
Tuna (30m 1+D) Went LONG on the 2:00 pm and 3:00 pm pull back. LONG
Sardine (5M-1D) Got long at 10:00 am and out at 11:00 am. OUT
Pre Opening: Price is tightening at the 90 handle trying to push through.
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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