WyckoffTrader-AMTurn-01262024
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 gave back ground after an early advance but rebounded going into the close to end Thursday's trading mostly higher. The Dow and the S&P 500 once again reached new record closing highs, while the Nasdaq edged up its best closing level in well over two years.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
The day opened with rising support over Globex and moving up in constant volume. As the 8:30 am numbers ticked price started lifting offers. By 9:00 am price had already traded up to 4920 handle. As the market opened price started to trade in a tight range.
On page three in the AM TURN, I wrote: Kind of day I expect: We either have a sign of strength from Tuesday's low or a Terminal Upthrust from yesterday's high. With the selling pressure from yesterday, odds favor a fade back down Tuesday's 11:30 am low. Shorts will cover. Need to see longs entering at the 4877 handle at the AM LOW with a potential "how deep is your three" down to the weekly pivot of 4855 handle.
Strategy: Buy around 4909 to 4893 to 4883 with a stop at your comfort level. Sell half at 4916 with the other half at 4921 or wait till the market on close to exit. The idea is to get long on the AM LOW and exit at the lunch or LAST HOUR HIGH. This cycle could flip to a bearish if the 4877 handle is lost.
Perhaps you would have had to go market at the 4909 just after the numbers were released at 8:30 am to get on board for that trade. Still, it was a good trade. The 4921 handle was tested twice. Once around 10:30 am the other around 11:50 am.
Also on page three, I gave: Bears Want: 95, 88, 82. The low of day was 4896.75 I'll take it. I am not a fan of levels. I'm just looking at where we get a momentum shift as the volatility increases and liquidity enters. Usually, though, those areas are around levels.
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)
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 S3L with the spill up.
News: Personal Income and Outlays at 8:30, Pending Home Sales Index at 10:00. All times EST.
Last Night: Faded back to support one at the 4903 handle. Recovered the pivot 4915. Trading at CASH highs. I'm starting to use the Floor Trader Pivots or as I head lately the Chicago Pivots at the top on page one.
Edge: Yesterday was more muddy I'm expecting the PPI to settle the deal.
7/8/9 AM: From the pivot been on a constant rally to regain the CASH high and higher.
Today: PPI number may be the deal that moves the market.
Bulls Want: 24, 32, 40
Bears Want: 09, 99, 91
Globex: 24 handle trading range on 158 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.69
Shape of the day: Odds and probabilites with lean on bulls. Rope follows expansion.
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 up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW
Bill Fish (4H/4D) Holding LONGS. LONG
Tuna (30m 1+D) Added long at mid pm dip. Holding LONGS. LONG
Sardine (5M-1D) Got SHORT AM HIGH. Held till 11:00 am. OUT.
Pre Opening: Bulls have run into supply after PPI. Lost pivot 4915. Bears eyes on support one 4903. Now Bulls have regained the 4915 with eyes on CASH high and higher. Let's see what the CASH open has in mind.
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)
Comments are closed