Issue 1,788 – Copyright, 2024, by Wyckoff AM Trader
Yesterday's Recap: Good morning. Today is SERIES S1H with the spill down.
It was the bears ball to lose yesterday, and they lost it! As the open opened price was at the low of previous day and at daily support S1 of 5862 handle. You can see the low of day was 9:32 am. Traders were reluctant to get on board the bullish train but the those in the know who can move the needle (Composite Man) were not timid.
You can see at 10:00 am to 10:10 am volume was coming in as price lifted offers. Now the Algos took away half and then just got out of the way.
By 1:00 pm you can see price lifting on lower volume. By 1:30 pm to 2:00 pm price is climaxed on volume to the high of day. Price drifts down for 30 minutes the longest bear reaction and finds a bid at 3:30 pm as volume climax's the down move. 30 minutes rally back up on somewhat weak volume but then the last 10 minutes greater volume comes in and checks the up move.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S2L with the spill up.
Today's News: Michelle Bowman Speaks at 9:00, Existing Home Sales & Atlanta Fed Business Inflation Expectations at 10:00, EIA Petroleum Status Report at 10:30, Treasury Buyback Announcement at 11:00, 4-Month Bill Auction at 11:30, Thomas Barkin Speaks at 12:00, 20-Yr Bond Auction at 1:00, Beige Book at 2:00. All times EST.
Cycle Bias / Tone: I'm still thinking it's the bulls ball to lose. Notice the daily pivot of 5890 is in alignment with the weekly pivot of 5895 handle. Yesterday price held the weekly support of 5868 handle.
Last Nite: After the close secondary test at 3:45 pm price started to drift back down after Settle. Currently trading at the 12:30 pm push up and looking for a reason to chose a direction.
Honing (turns): Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH.
10/23/24 ESZ2024
DAILY 5885.50
R2 5927.50
R1 5908.75
S1 5866.75
S2 5843.50
WEEK 5895.00
10/22/24 ESZ2024
Open 5869.25
Hod 14:04 5904.25
Lod 09:32 5862.25
Settle 5890.00
Volume 798,452
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: October 17 Hunter's Moon 7:26 a.m. Fall Equinox September 22 8:43 am (all times Est)
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