WyckoffTrader-AMTurn-01042024
YES. I have skin in the game. I trade my own personal account. Sardine / Tuna / Billfish trades are for educational purposes only. I am NOT a futures broker and do not manage any accounts. It is my intent to show where trades may occur. What you do is up to you. You can follow my IDEAS to profit or loss. You determine trade size, when, where and how you trade. (CFTC) Futures is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest, know how much you can afford to lose.
NEWS / FUNDAMENTALS
(Reuters)
After kicking off the new year on a downbeat note, stocks saw further downside over the course of the trading session on Wednesday. The major averages all fell on the day, with the tech-heavy Nasdaq closing lower for the fourth consecutive session. Iinvestors have become too optimistic.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
The close from the previous day was strong. Perhaps too strong. Volume climaxed as price really did not move. It indicated a buying climax. As Globex opened it hinted the bulls game was over. Price drifts down to 81 just about midnight and the start to move back up. At 3:15 am "momma" got thrown from the train!
That was WB's saying. At 5:00 am a bid comes in but it's not enought. At 7:40 am price is holding a bid but it's not enought. If you were long from the previous day and was looking for a reason to exit your trade. You may have just found it. If you drew a trend line, then you may have had a better guide for price action.
Price opens gap down then dips and rips back up at 10:00 am. It's givign you a change to either get out of your losing postion (long) or go short the market the days' ride. I was S4H and I was wrong. I made a video outling how you can see how to flip a Series day.
We have a 20 minute down move and then a 5 minute up move at 10:30 am. That's telling you the bulls are unable to gain a following a lift offers. It's going to be another dip. How this down move plays out will tell you a lot about the strenght of the bulls and the bears.
Notice after 10:30 price moves down another 20 mintues. Notice the distance covered is less. Bears are unable to get back the same distance than before. Notice where the AM LOW comes in about 10:50 am price is being held in a tight range from 10 mintues. It move sideways and breaks the supply line at 10:50 am and then tests it at 10:55 am.
If you were going to get long, this was the place to do it. Price moves up till 11:00 am and recovers half the reaction. By 11:30 the AM HIGH (not LOW) is printed and you're looking for the lunch low. The lunch low is sealed at 12:20 pm and price starts to lift offers up to the mid pm high which is smack dap in the FED MINUTES at 2:30 pm.
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We are wrapping up this year and grinding into
the next. If Momma gets thrown from the train
1. Average an aggressive market cam move about 150 points in one day.
2. If Algo's decide to go all out REO and "Take It All Away" you could see a 500, 800 to God help us 1,300 point move in a day, across days or a week. Perhaps a month if there is no bid in sight.
3. That is if this market starts to take notice on the news and current events.
Until then…Don't miss any Future FREE Webinar invites or Daily email UPDATES.
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good morning today is SERIES S1H with the spill odds down.
News: ADP Employment Report at 8:15, Jobless Claims at 8:30, PMI Composite Final at 9:45, EIA Natural Gas Report at 10:30, EIA Petroleum Status Report at 11:00. All times EST.
Last Night: It's now or never for the bulls traders are already talking air drop. Globex has held the 50 handle all nite.
Edge: Potential sellng climax with the FED MINUTES now waiting on the technical rally.
7/8/9 AM: Bulls are still holding the AM LOW waiting on news.
Today: Bulls will need to hold the last hour gains from yesterday. (same as yesterday)
Bulls Want: 57, 72, 88
Bears Want: 37, 27, 20
Globex: 14 handle trading range on 148 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 14.05
Shape of the day: First day of cycle on the edge of victory or defeat. Pending which side your on.
Last week of the Santa Clause rally.
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Out driving out to the Hamptons. OUT
Tuna (30m 1+D) Out driving out to the Hamptons. OUT
Sardine (5M-1D) Stayed out due to the grind. OUT
Pre Opening: Supply is trying to sleep in but holding for now.
Could see some games being played the last few days of this week. Jobs Reports.
The clock is used for timing your entries and exits. Position long at the lows exit at the highs. Get short at the highs 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 26 Cold Moon 10:33 pm. Winter Equinox December 21 10:27 pm (all times est)
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