WyckoffTrader-AMTurn-02222024
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 spent most of Wednesday's session in the red but staged a notable recovery attempt going into the close of trading. The Dow and the S&P 500 bounced well off their worst levels and into positive territory, although the tech-heavy Nasdaq still closed lower for the third straight session.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
I had the day as S1H and some may have not agreeded. My reasonings were the selling climax and automatic rally were seen the prior day and today would see the secondary test. I felt the FED minutes would give flame to the fire to the bulls or the bears. I was leaning toward the bulls of course.
On the Series One day, there are no clock turns so it's your T&A and your levels.
Most just look at levels anyway. The first 30 minutes did not really give us any thing to work with anyway. It just sets the highs and lows for the day's trade. Our points of reference were the previous day's high close and low.
Price opened below the close and just hung in a range. There was no real lean all day. Perhaps price poped out of the opening range high at 11:30 am then down to the opening range low at 1:00 pm. It was hurry up and wait for the FED minutes all day.
By 2:00 pm a buying wave lifted price up to the opening range high and then price started to fall off. By 2:30 pm a new low of day was printed. This was the start of a base of accmulation. Price tags a lower low as the "bag holding" starts. By 3:20 pm a new low of day was printed and price started to get boyant as a beach ball held underwater and a frat boy pool party.
You can see the Composite Man lift offers all the way back to grandmas' house. I made a video outlining each print.
After the close, some earnings were released and price got messy still trading 5018 handle.
This content is 100 percent Human Made Organic (HMO)
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 S2L with the spill up.
News: Jobless Claims at 8:30, PMI Composite Flash at 9:45, Existing Home Sales at 10:00, EIA Natural Gas Report at 10:30, EIA Petroleum Status Report at 11:00. All times EST.
Last Night: Price took the close and took it to all the way to new all time highs. Most traders are kicking themselves right now, thinking; "why didn't I keep a runner?"
Edge: Price is trading at R3. The extreme. The day is S2L. Are we overbought? What do bears do in the woods?
Need to see if the bears can wake up and pick up the soap.
7/8/9 AM: 6:00 am taged an all time high. Price is pulling back to R3 5062 handle.
Today: Could see some selling pressure slip into the fray and then bulls pick up steam and check for probing Globex highs.
Bulls Want: 67, ?, ?
Bears Want: 57, 50, 46
Globex: 52 handle trading range on 258 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 14.23
Shape of the day: How deep is your three. The AM turn could extend down into the PEON close.
Honing: Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Added to longs at the last hour bag holding. LONG
Tuna (30m 1+D) Added to longs at the last hour bag holding LONG
Sardine (5M-1D) Did not see an edge. OUT
Pre Opening: After the numbers price held the 62 handle and is waiting on CASH opening.
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: February 24 Snow Moon 7:30 a.m. Spring Equinox March 20 5:24 pm (all times est)
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