Issue 1,735 – Copyright, 2024, by Wyckoff AM Trader
So glad the market is starting to reflect the opinion of technical analyst. At least for one day. It was a hard road to hold but once the bulls got started they took it to the hole! I got in on the spill down. The day was S4H. We had the Normal, Wedge Zoom and Link Stink. So glad we did not have the Wedge Zoom. Those are not the funniest to be in.
I got in on the spill down. Got stopped out and got back in. I felt we might have a 100 handle day. That is if we got back to the previous day's high. Did I hold it all day? No. I did not. I took 50 handles and called it a day. Sure, I should have held for more but let's review the turns.
The spill down. Normally it seals in 15 minutes. It did yesterday. I should have waited till the Floor Trader Daily Pivot was tested. I did not. I should have waited till the previous day's halfway correction found support. I did not. When I saw it come in a hold the close, I was already in. I was looking for the R1 to get tested. That was 5335 but that voice in my head said, "that goanna take a while…"
The AM HIGH seals late and strong at 10:50 am. The MID AM LOW, like clock work center time 11:30 am. The lunch high starts topping out at 1:00 pm. The mid pm low at 2:10 pm. This is indicating strength as earl and weak. LAST HOUR HIGH at a hook at 3:30 pm. What was it a 134 handle day?
PROSE and THE NUMBAHS
Good morning. Today is SERIES S1L with the spill up.
News: EIA Petroleum Status Report at 10:30, 4-Month Bill Auction at 11:30, 10-Yr Note Auction at 1:00. All times EST.
Last night: After a weak close, Globex opens down and never look back. Rallies up to 5315 and you guessed it – dumps it!
Edge: Volume on the past two days as been very climatic. Perhaps today is the day the bulls will get some play. (I said that yesterday, perhaps today too)
Globex: 83 handle trading range on 148K volume.
Cycle Bias: Favored to the bear.
Tone: VIX trading at 27.21
Shape of the day: Odds and probabilities.
Honing: Spill odds up, loupie loop, LAST HOUR ODDS LOW.
The clock is used to time your entries and exits. Position long at the lows, exit at the highs, get short at the highs, and 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: August 19 Sturgeon Moon 2:26 p.m. Fall Equinox September 22 8:43 am (all times est)
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