WyckoffTrader-AMTurn-01222024
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 sharply higher over the course of the trading session on Friday, adding to the strong gains posted during Thursday's session. With the continued upward move, the Dow and the S&P 500 set new record closing highs, while the tech-heavy Nasdaq reached its best closing level in two years.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
If you factor in what I said Friday on page 4: Composite Man shook out all the weak hands, perhaps now he's willing to start lifting offers. Friday was reallyl shooting fish in a barrell. Once the weak hands were out, the Composite Man was ready, willing and able to start lifting offers Now, we have all time highs.
What do you do with that? Where do you got with that? The day was S4H on a Friday. A Debbie Day. WB loved those day's especially on a Friday. In fact that was the last trading day of his life. He died the next day on a Saturday (that was the day he went fishing)…
The market opens up strong with a gap up and starts to come in for about 15 minutes. Some traders went short. They were short that is for about 15 minutes. The first turn is AM HIGH. It did not dissapoint. Price held in a tight range for about an hour. The 10:00 am news played a quick game. Then about 10:30 am price started lifting offers and did not stop.
The MID AM LOW comes is about 11:50 am a bit late and strong. If you were looking to get long this just might have been the place to do it. Price starts lifting about 12:10 pm (I talked about it in the video) and does not stop till about 1:50 pm to seal the lunch high.
Then the final mark up checks the high around about 2:30 pm with a volume surge and a price drop. Somebody's selling in large size. That tags the mid pm low and then it's offer to the races for the LAST HOUR HIGH.
It comes in early and weak at 3:10 pm as price stars to tighten up for the next 40 minutes up to the close.
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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 S3L Normal with the spill up.
News: No news of note. All times EST.
Last Night: Even with sabre rattling the market held Friday's gains. Diped down to 77 then rallied higher up to the 87 handle.
Edge: At the highs you might want to see some profiting taking by the younger bulls.
7/8/9 AM: Testing the high of the 90 and holding in a tight 5 handle range.
Today: Will CASH accept this as value on the open? (same as Friday)
Bulls Want: ?, ?, ?
Bears Want: 69, 59, 47
Globex: 18 handle trading range on 180 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.63
Shape of the day: It's a normal so price could trade either way.
Bigger traders are back in town as well as politications. Should start to see some real direction.
Honing: Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW
Bill Fish (4H/4D) Added LONG during Spill down dip. LONG
Tuna (30m 1+D) Added LONG during Spill down and Mid am low. LONG
Sardine (5M-1D) Got long at the MID AM LOW and out at the lunch high. OUT
Pre Opening: Starting to see some supply at the 90 handle.
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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