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!
It was more like catching a falling knife today as the bulls tried to hold a bid. As we discussed the market is full of air pockets. And Jan-6 did not help.
The virus seems to want to linger and the economy is not jump-starting itself as the pundits indicated. We’ve had a cold snap hit the country this week. It may affect future retail sales.
I’m leaning to the bearish side of the clock. Naturally, it flipped. However, we may be in an oversold position.
Looking Forward to Friday, January 7, 2022
We’ve traded out nearly half of the gains from Dec-20. Price seems to be in a holding pattern waiting for the next move.
Currently trading around 4700 big even handle. This is a natural location for support. However, if it is lost you could see 4650 or lower today or next week.