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 realize I’ve been saying this for a few days. And the market may not always verify it. Just look closer. A 70-minute down move. That was the initial selling on the day. An 80-minute rally recovers just over half of the loss. A 180-minute down move corrects just a wetbeak of the previous rally.
This is indicating pressure is not on the market. Professionals are not taking all that is offered. Just letting it drift down to the lows.
This is followed by another 60-minute rally that corrects over half of the decline. Now, I’m not saying we are not in a recession. Some folks may be in a depression. The concrete block from yesterday was AAPL, WBA, MCD, and KMX (Carmax).
Without pulling up a Heat Map, Consumer Discreptainary seems to be under attack. Yes, folks like you and I are no longer to subsidize profits due to the need to pay for gas, food, and shelter.
So much has happened in the last three months. So much change. I still don’t see the pain in the market. Perhaps it’s there but by my eyes it’s hidden. I guess they frontin’.
ADV / DEC was favoring the bears 5 to 1. Price has been hugging the lows for the past five days. If it keeps hugging it just might fall through on the right news catalyst.
We’ve been spending most our life livin’ in a Capaltist Bullish Paradise. I don’t seem that changing soon . . . however the fall is here and winter is not too far away. RIP loc’d out gangsta https://www.youtube.com/watch?v=hvMKgMZsfDM
Looking Forward September 30, 2022
Due to recent changes in market behavior I’ve decided to change my focus to Time based trading. This allows you to benefit from the flow of the arrow of time and not fight against the algos in the nanosecond.
From last Friday: If we lose that 3750 handle it could open a drop to 100 handles lower down to the 3650 or more. I’ve heard talk of a DOW 25K before 40K.
And tonight as I type it’s a 3645 handle. Yes, we lost those 100 handles. Currently, we are in a slight downtrend. Yes, most likely we will test once again the lows from yesterday.
It won’t be a #1 perhaps a #2 Spring. Heaven help us if it’s a #3 Spring.
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