WyckoffTrader-AMTurn-01302024
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 showing a lack of direction early in the session, stocks moved mostly higher over the course of the trading day on Monday. With the upward move, the Dow and the S&P 500 set new record closing highs, while the Nasdaq reached its best closing level in two years.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
I made a video that outlined the day. If you'd like to see it let me know. The day was S2L Monday. That makes it a normal. I said on page threee:
Mathmatical / Technical Read: Inside Day, RSI 71, 3/10 MA Day above. Inside Hour, RSI 53 Hour, 3/10 MA Hour above. Globex diped down to support one and held a bid. Price needs to get to daily pivot of 4918.75 to trend. Need 3 day pivot 4912.50 to Weekly 4907 to hold. The day is S2L. This day has potential bullish trend extension.
Strategy: Looking to buy weakness / Sell strength: If bulls can hold 3 day pivot of 4912.75 get long (use your comfort for stops). Add at the 4916 to 4920 pivot (use your comfort for stops). Take third off providing a spike up to the 4930 handle. A second 1/3 at 4945.50. Exit remaing longs on Market on close order.
If you followed that you had a good day!
The take away it if you look at 10:35 am where the AM LOW prints. You can see the volume come in and climax the down move. Then at 11:00 am the low is tested on low volume. That's telling you something. That's telling you the bears have just droped the soap and the bulls are picking up the ball and running with it.
In other words it's showing strenght with bullish tendencies Price is unable to take price lower. There is no supply and the down move has ended. Next we are looking to take out the 10:40 am high. Price does that. It's telling you the strength of the bulls.
Once the 10:20 am high gets taken it's game over for the bears.
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.
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good morning today is SERIES S3L with the spill up.
News: Case-Shiller Home Price Index & FHFA House Price Index at 9:00, Consumer Confidence & JOLTS at 10:00. All times EST.
Last Night: Review the Actionable Trade Ideas above.
Edge: Bulls will need to hold thier gains.
7/8/9 AM: Bears have the ball and are running with it
Today: Bears have permission to take price lower or test yesterday's gain.
Bulls Want: 40, 55, 67
Bears Want: 32, 17, 09
Globex: 17 handle trading range on 118 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.72
Shape of the day: Tight trading rang waiting on Fed tomorrow.
Bigger traders are back in town as well as politications. Not seeing 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 LONG. LONG
Tuna (30m 1+D) Holding LONG. LONG
Sardine (5M-1D) Got long AM HIGH and closed at the lunch high. OUT.
Pre Opening: Price is falling like Elon's wealth looking for a bid.
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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