WyckoffTrader-AMTurn-06112024
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)
Extending the lackluster performance seen over the two previous sessions, stocks showed a lack of direction during trading on Monday. The major averages bounced back and forth across the unchanged line before eventually closing modestly higher.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Yesterday was June 10, 2024 and Sunday I listened to America's top 40 June 10, 1972. I was amazed of the emotinal siginiture of the music. It was about Looking for love. Finding love, and keeping love. Music focused on starting a family. The SPX closed on that day (9th on Friday) at 106.75 on 12.7 Million lots. That was 52 years ago. Today the SPX closed at 5360.75 on 2.3 billion lots.
Today is issue 1,700 of the AM TURN. And the songs on the radio have an emotional signiture of Lookign for SEX. Getting SEX. Hiting it and then kicking it to the curve. We have AI and technology that will soon replace humaniety. As you know I'm all rabit hole.
On June 10 (9th on Friday) approximately 7 years ago when I took over the clock from WB SPX closed at 2415.75 on 2.6 Billion lots.
Yes the clock is still persiavice through out the years. And yes was are going. I say nothing but buying all day yesterday. There were some great runs to get short on but for the most part if was nothing but net almost stright up.
My main concern is even though we've doubled the SPX in price the volume has remained the same? The ALGO's just don't play a fair game. They got their Glory and We've got ours. The best trade would have been to got on board long as the market opened or wait 15 minutes later to nail the exact low of the day. That was at 9:47 am. I had an anomonoly so I just let that trade play out…
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 information provided, a seasoned trader might have considered entering a long trade on the eMini futures market at the market open or slightly after, around 9:47 AM, as this appeared to be the exact low of the day. This strategy is based on the observation that the trader described "buying all day yesterday" with "great runs to get short on but for the most part it was nothing but net almost straight up."
However, it's important to note that past performance is not indicative of future results, and each trading day is unique. Therefore, it's crucial to conduct a thorough analysis of the market conditions and use risk management strategies when entering any trade.
Additionally, the trader's concern about the lack of volume increase despite the SPX price doubling over the years is a valid one. This could be a sign of potential market manipulation or a shift in market dynamics due to the increasing influence of algorithmic trading. As a result, traders should be cautious and stay informed about market developments to adjust their trading strategies accordingly.
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.
Not sure Sydney gets the full grasp of what is going on but you be the judge. Before you assign any intelligence it's important to understand that she just tokenizes ever word and then just reassembles the words based upon likehood of order.
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S4H with the spill down.
News: No news of note. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: No number today, traders are waiting on the FED Wednesday.
7/8/9 AM: Traders are trying to hold the 56 handle.
Today: See Actonable Trade Plan above.
Bulls Want: 62, 74, 89
Bears Want: 50, 41, 33
Globex: 24 handle trading range on 118 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.22
Shape of the day: Normal, Wedge Zoom, Link a Stink
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH
Bill Fish (4H/4D) Started taking some off durring rally. LONG
Tuna (30m 1+D) Started taking some off durring rally. LONG
Sardine (5M-1D) Stayed out all day. Out at close. OUT.
Pre Opening: Price held at the 53 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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