Issue 1,775 – Copyright, 2024, by Wyckoff AM Trader
Yesterday's Recap: Good morning. Today is SERIES S2H with the spill down.
As the bulls dropped the soap, the bears took the ball and drove if all the way back to the big even. Today, perhaps a second test of the Globex low? Will it be a gap and go or gap and crap? Soon we will know. WEll you know what they say about a pig in a pen? Perhaps one that doesn't see?
It did my heart good to see those bears step it up. You can always tell when they are around in chat. You'll start to see Damion pipe up and the other traders try to pie him back down.
IMPRO: Wyckoff Trader :(8:41:40 AM) : Good morning. Today is SERIES S2H with the spill down.
IMPRO: Wyckoff Trader :(9:11:12 AM) : 11 weeks, that's going to ruin Christmass?
IMPRO: Wyckoff Trader :(9:49:28 AM) : they keep offering down hitting the bid
From open to close the bears were in control. By my eye at least, the spill up down sealed at 9:55 am. The AM HIGH at 10:20 am. If you were looking to get short this market, that was probally the best place. It's the third lower high and the next turn is MID AM LOW. What could be better? Factor in the S3 level in in view and well it was an all out bearish day.
The MID AM LOW seals at 11:50 am and the lunch high at 1:10 pm (early and weak). The mid pm low at 2:30 pm center time. And the LAST HOUR high at 3:55 pm. It was a gap and go day!
PROSE and THE NUMBAHS
Good morning. Today is SERIES S3H with the spill down.
Today's News: Employment Situation at 8:30, PMI Manufacturing Final & Lorie Logan Speaks at 9:45, ISM Manufacturing Index & Construction Spending at 10:00, Baker Hughes Rig Count at 1:00. All times EST.
Cycle Bias / Tone: Perhaps the bulls have picked up the ball again. Today will tell the tail. I said that yesterday. Unfortunately, they were unable to gain a following. As the bulls dropped the soap, the bears took the ball and drove if all the way back to the big even. Today, perhaps a second test of the Globex low? Well, we got that next question is the low in?
Last Nite: Price did what price does and tried to hold the previous day's low on increased volume. Price is now trading around the 3:00 pm high 5766 handle. That put's it just above the pivot.
Honing (turns): Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
11/01/24 ESZ2024
DAILY 5761.75
R2 5834.50
R1 5789.00
S1 5716.25
S2 5689.00
WEEK 5853.00
10/31/24 ESZ2024
Open 5807.25
Hod 09:31 5807.25
Lod 16:01 5734.50
Settle 5743.50
Volume 1,551,332
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: November 15 Beaver Moon 4:29 p.m. Winter Equinox December 21 4:21 a.m. (all times Est)
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