WyckoffTrader-AMTurn-01162024
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 turning lower over the course of morning trading stocks staged a notable recovery attempt in the latter part of the session. The major averages climbed off their worst levels of the day, eventually closing roughly flat. The banks sold off and the numbers failed.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
If you watch the video from Friday, you'll see how supply came in at three trys. Liquidataion was not completed each time as the current low of the day was taken out each time. If you were trying to catch that falling knife, you might have gotten a few cuts before the final low was in.
I've indicated on page 4 the best place to try to attempt a catch. Ideal would be just after the morning trade was over. The shorts who were short from the opening print would need to offest their shorts by buying into the market. Yes. They do not leave them on durring the SLOG like public.
Were the algos in control. Where the algos in the know. I don't know. The day was S1H. The first series day is not the best day as it was on a Friday after a big number. CPI/PPI they are always big market moves. The happed before the market opens.
The bulls and the bears have to reclibrate price cause they always get it out of whack as the low volume 1 by 1's get in the fram.
The banks were pressing the market down at the open. If you look at JPM you can see a big buldge. And the sell off at the open. The games they play wth the general public.
If you look at around 12:00 pm the lunch SLOG you'll see an ideal place to get long of the market as price starts to tighten. And if you look at 2:10 pm to 2:20 pm where price starts to get tight, you'll see the beste place to exit your trade as price tightens. Check that beauitful bean footage for more detail.
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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: Empire State Manufacturing Index at 8:30, Christopher Waller Speaks at 11:00. All times EST.
Last Night: Held the 4809 and then gave it up and offered down to 4786 found a bid and currently trading 4795 handle.
Edge: The news is bearish with a holiday week. Recovered low from prevoius day's low. Still trading below the close. Bulls have the wind against them.
7/8/9 AM: Found supply at 4804 now looking for test to see if Globex low will hold.
Today: Three day holiday week with GS and some others banks reporting. 11:00 Fed member speaks.
Bulls Want: 13, 22, 38
Bears Want: 86, 72, 68
Globex: 38 handle trading range on 358 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.89
Shape of the day: This day starts the cycle after a 3 day holiday weekend. Favoried to the bears.
Bigger traders are back in town as well as politications. Should start to see some real direction.
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Held their longs from the previous day. LONG
Tuna (30m 1+D) Held their longs from the previous day. LONG
Sardine (5M-1D) Got long at MID AM LOW and got out at lunch high. OUT
Pre Opening: No real responce. Price is holding at the big even.
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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