Issue 1,749 – Copyright, 2024, by Wyckoff AM Trader
The day was S1L day. Sure, it thought it might be bearish. Was it? Depends upon what you saw…
IMPRO: Wyckoff Trader :(8:46:59 AM) : Good morning. Today is SERIES S1L with the spill up.
IMPRO: Wyckoff Trader :(8:49:34 AM) : it's high odds it might be H;
IMPRO: Wyckoff Trader :(11:25:46 AM) : I resonate that same semianimate
IMPRO: Wyckoff Trader :(11:26:16 AM) : which ever side some large size is comming off
IMPRO: Wyckoff Trader :(11:45:25 AM) : looks like they are selling into those 50's
IMPRO: Wyckoff Trader :(11:53:35 AM) : its a Series One day so it's odds and probabilities
IMPRO: Wyckoff Trader :(11:53:45 AM) : there is No AM turn in a Series One day so
IMPRO: Wyckoff Trader :(11:54:01 AM) : it's more of an lean toward the end of day
IMPRO: Wyckoff Trader :(11:54:15 AM) : as potential to end more bearish than bullish
IMPRO: Wyckoff Trader :(11:54:21 AM) : as it relates to a Series One day
IMPRO: Wyckoff Trader :(11:54:30 AM) : And other day it would be the AM TURN
IMPRO: Wyckoff Trader :(11:54:41 AM) : ie. 10:00 to 10:57
IMPRO: Wyckoff Trader :(11:55:08 AM) : WB went loupie loop on the S1 day and went fishing
IMPRO: Wyckoff Trader :(11:55:11 AM) : yes
IMPRO: Wyckoff Trader :(11:55:18 AM) : are it relates to a Series on day
IMPRO: Wyckoff Trader :(11:55:22 AM) : one
IMPRO: Wyckoff Trader :(11:56:22 AM) : yes in a bigger picture
IMPRO: Wyckoff Trader :(11:57:56 AM) : It's Friday, Series One Fed day; day week before labor day; hard to call; who wants to go home short; WB might have said
As we got up to the 50's size came in to the tune of 100 lots each time. Globex just grinded up all night. Some traders hoped on board at the open of Globex. I did not. I would have but I'm trying to be more responsible and trade only during CASH with liquidity. However, if was a great trade if you hoped on.
Price opened as it recovered half of the previous day's loss. Selling comes out just 5 minutes. Bulls hold the lows as the bears choke on the highs. As JP gets hot on the mike price budges up to 45, 50 and then to the 60 by 10:50 am.
BY my eye, it was logical that they would try for the highs and sell into those highs. Price give is up around 10:30 am as bulls late to the party get filled up and over extended. Volume spike comes it at the pivot 5614 and cranks it back up to the 50 level. BY 11:30 am we already got a lower high and it looks like the SLOG is going to go to the supply side.
Hanks Algos offer price down till about 12:45 pm as retail throws up breakfast and the UK / PEONS follow pursuit. Price grinds back up to close.
Now where do you think they would close it? Remember IMPRO: Wyckoff Trader :(11:45:25 AM) : looks like they are selling into those 50's
You guessed it 5650 handle.
Heard in the chat:
IMPRO: DAMIAN197 :(10:21:47 AM) : Jackson Hole preview: We've achieved record wealth inequality 16 years in a row. We took it to new levels with record easing, then we made housing the least affordable ever achieving even more wealth inequality & now we're doing it all over again by easing again.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S4H Normal with the spill down.
News: Durable Goods Orders at 8:30. All times EST.
Last night: Price traded in a tight range holding Friday's high. Got a bit over their skies and came back in This day could go either way.
Edge: I'm seeing supply at the 5650 handle. Is it enough to hold the bulls back? We got GDP and PMI this week and soon Labor Day. Traders may be checking out getting ready for the holiday.
Globex: 24 plus handle trading range on 108K volume.
R2 5697.75
R1 5674.00
DAILY 5638.50
S1 5614.75
S2 5579.25
WEEK 5627.00
Cycle Bias: Favored to the bull.
Tone: VIX trading at 15.86
Shape of the day: Three doors: Normal, Wedge Zoom, Link Stink.
Honing: Spill down, AM HIGH, MID PM LOW, lunch high, mid pm low, LAST HOUR HIGH.
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 9.m. Fall Equinox September 22 8:43 am (all times est)
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