Issue 1,765 – Copyright, 2024, by Wyckoff AM Trader
Yesterday's Recap: Cycle Bias / Tone: Favored to the bearish. This could flip. VIX trading at 17.61. You are looking at one by one's and two by two's at 2:00 pm. WB called it a scared roach dance. If you like to pick up nickels Infront of steam rollers, price could move 50 to 75 in clip.
Honing (turns): Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
That was more like it. We don't give KEWPIE dolls on a S3 day but open did track as an S3H day.
Price opened around the daily pivot DAILY 5705.75 and started to lose the unchanged. This gives more confirmation of a bearish day. I saw large size around Large Size Activity: 2:17 AM 5710 on 1,200, 8:39 AM 5710 on 1,018. Which also gives confirmation.
The Composite Man was checking the bulls party and giving reason for a bearish story. The Spill down sealed about 10:00 am. The AM HIGH was tested twice but the seal came at 10:45 am. A lower high. The Composite Man offers down till the MID AM LOW where volume comes in around 10:45 am an hour later.
You can see residual bear as price pushed lower at 12:05 pm. And then the shorts close and price tries to retrace the down move. Traders are conforming themselves as they wait for the 2:00 pm scared roach dance.
FOMC Scared roach dance. If you like to see your P&L move 60 points in a milli-second, then you'll love this dance.
Heard In the Chat: IMPRO: Wyckoff Trader :(8:52:39 AM) : Good morning. Today is SERIES S3H IFFY with the spill down.
IMPRO: Dboy :(9:58:50 AM) : Good day to get some non trading shit done
IMPRO: Wyckoff Trader :(12:49:50 PM) : they seem to be checking this big even, let's see what the bulls got
IMPRO: tbohn007 :(12:50:46 PM) : I think dovish 25, steady as she goes and room to be more aggressive if the data requires
IMPRO: tbohn007 :(12:51:03 PM) : 50 could get a pop n drop
IMPRO: tbohn007 :(12:52:28 PM) : the dots ….. those spots are going to scrutinized and the tone of Powell's presser
IMPRO: Wyckoff Trader :(2:44:20 PM) : game of soldiers with the bias to the sell side
Yea, that about says it all. It's a scared roach dance with stops, we no need no stinking stops!!!
PROSE and THE NUMBAHS
Good morning. Today is SERIES S4L IFFY with the spill up.
Last Night Trade: After selling off hard at the close, the ASIAN market brings price back up. Price is currently testing the 5735 handle. And now they just taken price higher. Currently trading 5770 and change.
Large Size Activity: Did not see any large size last night.
7:00 AM / Premarket: Question now is are the PEONS over their skies? High probability for a gap and crap, but who knows…
Today's News: Jobless Claims & Philadelphia Fed Manufacturing Index & Current Account at 8:30, Existing Home Sales &
Leading Indicators & 10:00, EIA Natural Gas Report at 10:30. All times EST.
Cycle Bias / Tone: Favored to the bearish. This could flip. VIX trading at 18.23. We got past the scared roach dance. Traders seemed to have loaded up their wagon. Perhaps one day left in the bearish camp.
Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW.
9/19/24 ESZ2024
Open 5707.25
Hod 14:02 5755.75
Lod 15:49 5675.25
Settle 5690.75
Volume 1,318,777
DAILY 5707.25
R2 5787.75
R1 5739.25
S1 5658.75
S2 5626.75
WEEK 5558.25
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: September 17 Harvest Moon 10:34 p.m. Fall Equinox September 22 8:43 am (all times Est)
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