WyckoffTrader-AMTurn-05242024
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 higher at the start of trading on Thursday but failed to sustain the initial upward move and came under pressure over the course of the session. The major averages pulled back well off their highs of the session and into negative territory.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Fed minutes set the tone and Nvidia results failed to reset the focus on positive market fundamentals. The minutes from the Federal Reserve's May policy meeting released on Wednesday had a negative impact on the stock market, which continued to be felt on Thursday. Despite Nvidia Corp.'s strong quarterly earnings, the S&P 500 and Nasdaq Composite both fell, while the Dow Jones Industrial Average experienced its biggest one-day percentage decline since March 22, 2023.
Nvidia's stock soared and closed above the $1,000 mark for the first time, but it wasn't enough to lift the overall market. The Dow's decline was the steepest since Feb. 21, 2023.
Yes that's what they said. I say note to self: Next time Globex is trading R2 at 5365 handle and looses it. Just get short. Dont' hesitate. Get short with both hands. The day should have fliped. Yes, it was S1L day. You think?
Before the market could get open, it cut through 5346 like butter. Get short. Do I think the market is going back up. Yes but I always think that. Yesterday was different. They were pressing supply. If you just got short at the open and rode it to the close, you'd had a good day.
Market did not need any cowboys stepping up holding a bid at 10:00 am. Some tried. Some died…
Wyckoff Trader,
P.S. If you've read this analysis, you might be curious when the best time to consider a position: (Sydneys / AI Read)
Based on the play-by-play description you provided, it seems that the best time to have put a trade on the eMini futures market for this particular day would have been:
Based on the information provided, a seasoned trader may have identified an opportunity to short the eMini futures market during the Globex trading session when the market broke through the 5346 handle. This level was mentioned as being breached "like butter," indicating strong selling pressure.
Additionally, the trader observed that the market did not need any "cowboys" to step up and hold a bid at 10:00 am, suggesting that there was a lack of buying interest at that time.
Overall, the trader's tone is confident and experienced, suggesting that they were able to identify a trend and make a profitable trade by getting short at the right time.
Additionally, it is important to keep in mind that the market can change quickly and what was a good trade opportunity at one point may no longer be valid at another. It is essential to use risk management techniques such as stop losses and position sizing to protect your capital.
With that started here are the "PROSE and THE NUMBAHS" (WOW. She nailed that one. She's getting to be a better trader each day)
good morning today is SERIES S2H IFFY with the spill down.
News: Durable Goods Orders at 8:30, Christopher Waller Speaks at 9:35, Consumer Sentiment at 10:00, Baker Hughes Rig Count at 1:00. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: The bulls were far past the bad lands. Perhaps we'll try to recver some loss today.
7/8/9 AM: Price is now trading at 5366 R2. Are the PEONS off their skies?
Today: See Actonable Trade Plan above.
Bulls Want: 08, 17, 27
Bears Want: 88, 78, 71
Globex: 20 handle trading range on 148 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 11.57
Shape of the day: It's iffy due to a potential selling cllimax yesterday.
Honing: Spill down, AM HIGH, (NO MID AM), lunch low, mid pm high, LAST HOUR LOW.
Bill Fish (4H/4D) Added to longs at CLOSE. LONG
Tuna (30m 1+D) Added to longs at CLOSE. LONG
Sardine (5M-1D) Got short at open. Out at close. OUT.
Pre Opening: Seeing some buying entering in at the 95 handle.
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: March 25 Worm Moon 3:00 a.m. Spring Equinox March 20 5:24 pm (all times est)
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