Issue 1,802 – Copyright, 2024, by Wyckoff AM Trader
From yesterday: Good morning. Today is SERIES S3L IFFY with the spill up.
This day was more about, "now that we got all the weak hands out yesterday…"
I can't believe that shell/pea game still works!
It does. And it's a beautiful thing when it does. You can see a hard sell off Tuesday got all the weak hands out. What happened over Globex. Slow drip up. Then 8:30 AM numbers (CPI). Some say they released the report / got it wrong. Sure. It ripped up. Quickly. You had to be low at 8:29 AM to exit at 8:30 AM.
The previous day price closes slightly above the lows and then we open up at the highs. And almost at floor trader pivot S2. That will put the damper on most older bulls. The young ones just jump on in.
The clock is going to be a bit muddy on this day. All the play was taken out on the CPI numbers. We got a hard run up for 45 minutes till 10:15 AM. Then a drift back down holding at the 3/8 retracement for 45 minutes. This is telling you the bull campaign is not over yet. Let's test those previous highs.
The next move is relentless. Right into the SLOG. A 150 minute up move till 1:30 pm is checked. Then a drift down for 45 minutes puts the pressure on the bulls to perform. Which they do not! Call it a soap drop. A 30 minute up move (lowest in duration) is wetbeaks at the highs. This gives the bears the confidence to start putting supply in the mix.
The last hour of power is a tight range the slides downward in the last 30 minutes of trade.
IMPRO: Wyckoff Trader :(8:48:30 AM) : Good morning. Today is SERIES S3L IFFY with the spill up.
IMPRO: Wyckoff Trader :(10:01:09 AM) : seeing some selling coming in
IMPRO: Wyckoff Trader :(2:36:37 PM) : trans trying to turn up
IMPRO: Wyckoff Trader :(2:44:24 PM) : not a good sign for the last hour of power for the bulls
IMPRO: Wyckoff Trader :(2:45:13 PM) : 40 minute move down 40 move up not reclaiming the highs
IMPRO: Wyckoff Trader :(7:17:32 PM) : pitbull when do you think the holiday trade is going to kick in?
Here's a video from the "Way Back machine"
One is dead three days later and one is a multi-millionaire 30 years later…
PROSE and THE NUMBAHS
Good morning. Today is SERIES S4H IFFY with the spill down.
1. Last Night: After the close price just kept drifting down.
2. Large Size: Did not see any large size of note.
3. 7:00 AM / Premarket: After the PPI, price tags nearly the 70 handle. Pops up tries to recover the 80 handle but fails
4. Todays News: Jobless Claims & PPI-Final Demand at 8:30, Quarterly Services Survey at 10:00 AM, EIA Natural Gas Report at 10:30. All times EST.
5. Cycle Bias / Tone: Yesterday brough it all back with today take it up some more on the PPI or take some away?
Three doors: Normal, Wedge Zoom, Link Stink. I'm IFFY due to the PPI numbers and potential holiday trade on board.
6. Honing (turns): Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH
7. Previous Day's Numbers:
Open 6075.50
Hod 13:03 6102.50
Lod 09:32 6072.50
Settle 6088.25
Volume 979,369
8. Floor Trader Pivots
DAILY 6087.75
R2 6117.75
R1 6103.00
S1 6073.00
S2 6057.75
WEEK 6081.75
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: December 15 Cold Moon 4:02 a.m. Winter Equinox December 21 4:21 a.m. (all times Est)
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