WyckoffTrader-AMTurn-01242024
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 turned in a relatively lackluster performance during trading on Tuesday, with the major averages bouncing back and forth across the unchanged after ending Monday’s trading modestly higher. Despite the choppy trading, the S&P 500 reached a new record closing high.
Yesterday’s Technical Review using
WB’s Emini Clock and Wyckoff’s Tape Reading Principles
As the market opened up Globex gave us a hint that price was for the most part equally ballanced. Price held the close of the previous day. Globex was not taking any chances and held in a tight range around the close. As the 8’oclock numbers rolled around a bid rolled in.
On page three I mentioned: Pre Opening: Bulls seems to be getting a following to take price higher. Then just as the opening print price was moving down and looking to check the lows. Also on page three: Today: Potental to see yesterday’s low tested to complete the seconday test.
And where did that test come in at? MID AM LOW. I made a video, I layed out minute by minute each price movement. This video outlines the S4H day Wedge Zoom. Also on page three: Shape of the day: Normal, Wedge Zoom, Link a Stink.
This was a classic Wedge Zoom. If you’d like to see the video, drop me an email. A Wedge Zoom is when the MID AM LOW zooms up to recover the highs near or just after the lunch SLOG. That’s one option. The other is a Zoom up from the mid pm low.
If you were able to recogonize this price movement you could have gotten long at the MID AM LOW and then added to your position at the mid pm low. Your exit would have been the LAST HOUR HIGH. It should not have come as a surprize that intraday high was at the 16:15 pm marker.
The tea leaves where their if you knew how to read them. When the trend is in WB’s clock is your frined!
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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 down.
News: PMI Composite Flash at 9:45, EIA Petroleum Status Report at 10:30. All times EST.
Last Night: After breaking out of reaccmulation and yesterday’s run and the last hour, Globex has taken price even higher. Nothing is/has stood in the way of a gap and go kina of trader day.
Edge: Some traders are talking about gap and go. First we got to get above or below to go. Bull will need to hold thier gains. (well they did that) Now, can they hold it or take it even higher.
7/8/9 AM: Price has held up to the 16 and now pushed up to the 24 handle.
Today: It’s blue sky’s all the way…until it’s not.
Bulls Want: 24, 32, ?
Bears Want: 16, 05, 89
Globex: 23 handle trading range on 148 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.54
Shape of the day: Odds and probabilites with lean on bulls
Bigger traders are back in town as well as politications (they left for the week). Not seein pressing supply but the public may start to enter if price goes up.
Honing: Spill down, loupie loop, LAST HOUR odds HIGH
Bill Fish (4H/4D) Added more long at MID AM LOW. Holding LONGS. LONG
Tuna (30m 1+D) Added long at MID AM LOW and mid pm low. Holding LONGS. LONG
Sardine (5M-1D) Got long at MID AM LOW. Held till LAST HOUR HIGH. OUT.
Pre Opening: Bulls seems to be holding at the 4922 handle looking for direction.
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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