Issue 1,773 – Copyright, 2024, by Wyckoff AM Trader
Yesterday's Recap: Good morning. Today is SERIES S4H with the spill down.
Just looking at this day it was more an S4L day as opposed to an S4H day. You could argue a wedge zoom / link a stink. Still it's aligning more as a S4L day. I know the algos agreed. They were selling from the start to the end of the day. As a trader you want to look back and say; "good on it, that's what we need!"
Still, it does not give you a sense of confidence in the future when we have these plunges.
If your short, you do well. It's still hard to go against that grain. The daily is looking more like an upthrust. Let's hope not terminal. There are some moving averages folks are leaning on. The weekly is 5788 we lost that. Currently trading 5757 handle. The daily pivot is coming around 5767 with the first support at 5726. Plenty of room to play on this S1H day!
PROSE and THE NUMBAHS
Good morning. Today is SERIES S1H with the spill odds down.
Today's News: ADP Employment Report at 8:15, EIA Petroleum Status Report at 10:30, Treasury Buyback Announcement & Michelle Bowman Speaks at 11:00, 4-Month Bill Auction at 11:30, Thomas Barkin Speaks at 12:15, Treasury Buyback Results at 2:00. All times EST.
Cycle Bias / Tone: It's the first day of the cycle after a hard sell off. Let's let price show the way.
It's iffy but it's a Series one day.
Honing (turns): Spill odds down, loupe loop, LAST HOUR ODDS HIGH.
DAILY 5767.75
R2 5844.25
R1 5802.50
S1 5726.00
S2 5691.25
WEEK 5788.00
10/02/24 ESZ2024
Open 5808.50
Hod 09:31 5809.50
Lod 11:18 5733.00
Settle 5761.00
Volume 1,687,810
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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