WyckoffTrader-AMTurn-01112024
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 ending the previous session on opposite sides of the unchanged line, the major U.S. stock indexes all moved to the upside during trading on Wednesday. With the upward move, the tech-heavy Nasdaq closed higher for the fourth straight session. The strength on Wall Street may have reflected optimism.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Yesterday price held the strong close from a dip to above the halfway retracement of the day before. Globex dips down to the 86 handle and rallies to challenge the pervious day's high. That's a sign. That's a sign the potential path of resistance it to the upside. Price dips down to the middle of Globex trading range and holds just sbefore the open.
After the open,, price buldges up to probe the previous day's high. At 9:45 am as price is checed at the highs of the previous day's high from a shelf of supply, you can see "bid hitters" come in and start taking out the lows. By 10:00 am price checks the previous days' close and rallies off lows.
Page 5 [2]. The automatic rally checks the current's day's high at 11:00 am. Your next notion is price needs to check those lows at a higher high. If you look you'll see a volume surge at 11:15 am and then a side ways movemet till about 12:05 where the lunch low is sealed. The next turn is mid pm high.
I'm thinking we've had almost 2 hours of re-accmulation it would be natural for price to start lifting offers durring the lunch SLOG. As 1:05 pm comes in you can see accmulation volume start lifting the offers from the previous day. Then a reaction to about the halfway retracement of the previous rally.
At 2:00 pm price has set itself up to take out the current day's high, but as price moves up it starts to get away from it's supports. I'm thinking we could be on the verge of getting price overbought.
Further confirmation comes in at 1:10 pm to 1:30 pm as price goes parabarolic. Final mark up comes in at 2:50 pm and 3:00 pm prints the near intra day's high. I made a video you should watch it. It breaks it down.
This content is 100 percent Human Made Organic (HMO)
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.
Please be sure and "white list"
feedback@wyckoffamtrader.com
trader@wyckoffamtrader.com
demio@wyckoffamtrader.com
so I don't get lost in your email inbox (Junk and SPAM folders)
good morning today is SERIES S4H with the spill down.
News: CPI & Jobless Claims at 8:30, EIA Natural Gas Report at 10:30. All times EST.
Last Night: Penetrated the 38 handle and then started to turn tail and offer back down to the 22 waiting on the news.
Edge: Either potential Distribution or potential Re-Accmulation. Need to reclaim close and high from yesterday. (we did that yesterday). Today, needs to take out the 38 and lift offers higher.
7/8/9 AM: In a 5 handle trading range from 23 to 28 handle. Looking for news to break out either way.
Today: CPI and Jobless Claims to move the needle today.
Bulls Want: 28, 33, 38
Bears Want: 20, 13, 05
Globex: 20 handle trading range on 148 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.77
Shape of the day: CPI / PPI may set the tone for the rest of the week.
Bigger traders are back in town as well as politications. Should start to see some real direction.
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Got long at AM LOW and lunch low. LONG
Tuna (30m 1+D) Got long at AM LOW and lunch low. LONG
Sardine (5M-1D) Got long at AM LOW and got out at MID AM HIGH. OUT
Pre Opening: We taken price down to the big even and now starting to rally it back up.
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)
Comments are closed