Issue 1,816 – Copyright, 2024, by Wyckoff AM Trader
Yesterday: Good morning. Today is SERIES S2L IFFY with the spill up.
Did we get to keep the KEWPIE DOLL? No KEWPIE DOLL FOR ME!!!
The big boys showed up. Volume 1.5 million. You could see it across the board. They were selling. Getting price to wholesale.
Perhaps it was something they said at 10:00 AM. Dumping was the fashion for a solid three minutes. Not a bid in sight. Just hitting the bid. This day traded more as a S2H day. That is why it was IFFY.
The AM HIGH center time 10:30 AM. There is not MID AM turn. Lunch low at 12:50 PM. The mid pm high is a minor turn so it's more of a hook at 2:10 pm. Then the LAST HOUR LOW at 3:40 PM. It was an ideal day to be a bear. That was the path of least resistance.
Now, you can see the bigger players are back in town.
I ran across this a few weeks ago: (Just look at the massive numbers of SNL from this one place)
If you watch the show, you will see this is far in excess of randomness. If only stock pickers were this good.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S3H IFFY with the spill down.
1. Last Night: After a weak close, price rallies just under the 75 handle then gives it up to fall down and spring the CASH low.
2. Large Size: No large size of note.
3. 7:00 AM / Premarket: Nothing to move the needle. Perhaps waiting on Friday.
4. Todays News: ADP Employment Report at 8:15, Jobless Claims & Christopher Waller Speaks at 8:30, Wholesale Inventories (Preliminary) at 10:00, EIA Petroleum Status Report at 10:30, Treasury Buyback Announcement (Preliminary) at 11:00, 4-Month Bill Auction at 11:30, EIA Natural Gas Report at 12:00, 30-Yr Bond Auction at 1:00, FOMC Minutes at 2:00, Consumer Credit at 3:00. All times EST.
5. Cycle Bias / Tone: Listen to Kramer and his Kronies and it's a buy the dip kid of thing. Not a fan or Kamer. Still I thinking some buying came in on the close yesterday. Bulls pushed yesterday past R3 just round 6100 handle. That a good day in any pit. Yes I said that Monday.
And Tuesday just wiped that smile right off the bulls face. Some traders are saying wait till the jobs report on Friday. Perhaps more selling.
6. Honing (turns): Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH
7. Previous Day's Numbers:
Open 6042.00
Hod 09:32 6045.50
Lod 15:39 5935.00
Settle 5958.00
Volume 1,530,164
8. Floor Trader Pivots
DAILY 5979.50
R2 6090.00
R1 6024.00
S1 5913.50
S2 5869.00
WEEK 5965.50
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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