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!
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!
From yesterday (Thursday Morning) AM TURN Bigger picture supply has been absorbed from each reaction. Smaller picture is can we get back up to the bigger picture?
We needed a catalyst. And we got on the Jobs Numbers. It was not shooting fish in a barrel day but it was near close. The day was S1H Oh don’t you love that day?
From the PROS and NUMBASHS on page 2: Last Night: Drifted down to test that spring (yea I said that a few times) and bounced back up to settle. Edge: It’s now or never for the bulls. 7/8/9 AM Trade: In a uptrend. Held the 40 and breaching the 50 handle. Today: Look for a move up to start lifting overhead supply. Not a mark up but not a test of lows either.
I trust you got some of that! We laid it out for you: Bulls: need to retake the 3954 want to take the 3978 handle. Cycle Bias: Potential favored to bull. Shape of the day: Trend up day. Honing: Spill odds down, loupie loop, LAST HOUR HIGH.
Every day is not like this but it’s a good day when it is! The high of day was 3977.25 I thought 3978 handle. Tech and a few other industries were not so quick to get on board with the rally.
That failed up trust at 1:50 pm sealed the day for the bulls. We have a lot of wood to chop. At least the stuck bulls were allowed to roam free.
About a 55 minute rally is all in the tank for the bulls. Not seeing supply just not willing to lift price higher. By 12:50 pm you can see the bulls were mustering an upthrust as price failed to take out the current high of day. The rest of the day is weak.
Looking Forward December 09, 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 week: was real demand. The only question is how far do they let it go back down? We are in December and the Santa Clause rally and the Lame Duck is the on the table. Is it right for the market to go up when there is really no reason to? Technically? Fundamentally?
Of course, not. But somebody got to get paid their Christmass Bonus…
Yes, they let it go all the way back to the beginning. Makes you think? Did they get out and then get back in? Yesterday held a strong up trend channel. And Globex is trading just at the CASH highs.
Ideal today is to allow the bears a turn at bat and see if they can find a weakness in the bull’s armor. At least at these highs.
From that major high there were some stuck bulls. If the price decides to pull back 3950 would be a nice handle to find some support. The day is S2L and that would favor the notion between 10:00 am and 11:00 am to PEON close. After that, it needs to rip back up before 12:00 pm.
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