Issue 1,810 – Copyright, 2024, by Wyckoff AM Trader
Today was no Santa Clause rally.
Perhaps Monday? Time will tell. Pundits are starting to say market is unwinding. Price opened weak for 30 minutes as the 10:00 AM marker showed great weakness. For the next sellers offer down till the 10:30 AM hour tags a new low. This seals the AM LOW. IT's not a bullish day nor a bearish day in great masses.
Bulls drop the soap at 11:30 AM as the seal is seen. A drift down to the lunch low tags a new intraday low.
The mid pm high comes in just before 3:00 PM. This is the high for the day as the clock goes. A drift down to 3:45 PM seals the LAST HOUR LOW.
It's a weak day. Let's see what Monday has in store.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S2L NORMAL with the spill down.
1. Last Night: Price just drifts down and sets up a gap and go or gap and crap situation.
2. Large Size: Saw some large size over the weekend. Still it's holiday trade.
3. 7:00 AM / Premarket: Bears took control of this Santa Clause rally and looking to take price lower.
4. Todays News: Chicago PMI at 9:45, Pending Home Sales Index at 10:00. All times EST.
5. Cycle Bias / Tone: Traders are looking for a Santa Clause rally to make the books turn greener. Will it happen? The bigger boys are away but the ALGO's are at play. Place your bets. Roll the dice and see. I said that Friday, let's see what today has in store.
Potential for a "How Deep" is you three. Price cold just keep going on down till the PEON close and then zoom back up.
6. Honing (turns): Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH
7. Previous Day's Numbers:
Open 6052.50
Hod 09:32 6055.50
Lod 12:39 5982.75
Settle 6030.25
Volume 1,392,344
8. Floor Trader Pivots
DAILY 6022.75
R2 6095.50
R1 6062.75
S1 5990.00
S2 5950.00
WEEK 6034.25
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: December 15 Cold Moon 4:02 a.m. Winter Equinox December 21 4:21 a.m. (all times Est)
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