WyckoffTrader-AMTurn-01192024
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)
Stocks moved mostly higher over the course of the trading day on Thursday, largely offsetting the weakness seen to start the week. The major averages all moved to the upside, with the tech-heavy Nasdaq leading the advance. The major averages reached new highs late in the session.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
From yesterday: Looking at the Weekly Pivot at the top of the page you see the 4788.75 as the water level mark for the bulls and the bears. I trust you were looking at the 88 handle yesterday. It was a tug of way getting past that handle.
From yesterday: By my eye, bulls are showing strength. Price moved down but was unable to gain a following to follow on increased volume. Price rallies off the lows on increased volume and closes almost to recover the day's high.
From yesterday: Last Night: As I said on page 4, I'm just not seeing pressing supply and last night confirmed that by holding at the 3/8 retracement and then rallying to recover the CASH high. Edge: It's now or never for the bulls. If they lose these supports could see a retracement back to the lows. 7/8/9 AM: Recovered the 70, 80, and now 90 and pressing higher. Today: Perhaps the low is in and it's the bulls ball. Bulls Want: 00, 07, 12 Bears Want: 81, 74, 65.
It's nice when you get an ear of corn. That's a Southern Saying. I'll let you fill it in. The clock will help show you the way. Not every day. And not every day as a strong trend. When the trend is in, WB's clock is your friend.
From yesterday: My notion: Perhaps I'm just bullish biased it just looks to me that bears are unable to gain a following to take price lower. Each day we get the same intraday high pattern around 11:00 am to 12:00 pm and then price dips down in somewhat reduced volume. I'm just not seeing pressing supply. Cycle Bias: Favored to the bull.
After the market fell from its lofty highs around 11:30 am and found a bid at 1:30 pm (two hours later) that was it for the bears. Soap drop and bulls took possession of the ball and took price to the top.
It humors me how the pundits give all the credit a rally to the tech stocks. I hear someone taking a second extended week. Business needs to get done but they don't want to do it. Did that rally the market I don't think so. I made a video that laid it all out before it happened. It's the price volume and the interaction of price movement, volume over time that tell the tail of the tape.
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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 S4H with the spill down.
News: Consumer Sentiment & Existing Home Sales at 10:00. All times EST.
Last Night: Held the 4812 till about 2:00 am. Got over thier skies at the 35 handle.
Edge: Last day of cycle and it's a Friday. Could see higher highs to take out overhead supply
7/8/9 AM: Got a bid at the 30 and pressing on the 40. Could price hold all time highs?
Today: Will CASH accept this as value on the open?
Bulls Want: 50, 58, 64
Bears Want: 30, 24, 13
Globex: 31 handle trading range on 178 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 14.32
Shape of the day: Normal, Wedge Zoom, Link a Stink
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) Added LONG during SLOG dip. LONG
Tuna (30m 1+D) Added LONG during SLOG dip. LONG
Sardine (5M-1D) Got SHORT before SLOG. Brought in SHORTS as the dip. OUT
Pre Opening: Price is tightening at the 40 handle trying to push through.
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: January 25 Wolf Moon 12:54 pm Spring Equinox March 20 5:24 pm (all times est)
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