Disclaimer: For educational use only. I’m not dispensing financial advice. We are having an intellectual conversation (you and I) on the topic of trading the Emin futures using the Lens of Wyckoff Principles and the Eyes of WB’s clock. The clock that controls all turns intraday, every day!
I’m a bit gobsmacked. I set the levels where I thought price could never get there in a day. Hey, the VIX was 30 and climbing. And yet, we caught a low and two highs and ended the day with a 15 handle profit. 100 handle days are becoming the norm.
Proms are over. Kids have graduated. Does the market know? The dog days of summer are near? Sell in May and go away. Is that going to be the play for today?
I’m not going to say I know where the market is heading. By my eye, yesterday’s action set the test of the oversold line.
The MID AM HIGH set the high of day. Normally, that is not so good. However, by 3:15 pm, price got a bid and recovered some of the loss.
Looking Forward Friday, May 13, 2022
Ok, It’s Friday and it’s the 13th. Not sure if that’s good or bad anymore? Overnight Globex has erased the high from yesterday.
The last time Globex set the highs RTE CASH came in and set it straight. Sold off all day.
This day ends the cycle. And it’s a Friday.
Last Friday, bigger traders went home short. The question might be, have they started to bring in those shorts?