WyckoffTrader-AMTurn-01312024
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 ending Monday's session firmly in positive territory, the major U.S. stock indexes turned in a mixed performance during trading on Tuesday. While the tech-heavy Nasdaq showed a notable pullback, the Dow climbed to a new record closing high.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
The market is fractial. As above so below. Well it's more hourly to 5 minutes. Looking at an hour chart, you'll see a spike high. That was Monday. Over Globex price tags another all time high and then starts to drift down. Notice at 8:00 am we tag a lower low and then a bid sets in.
The opening orders show buy orders. From the first five minutes price and volume increases. You can see at 9:40 am a slight dip then the current high of day is taken out and price moves higher on decreased volume. This is indicating a top. This starts to seal the spill up.
At 10:00 am bears offer down hand and set a new intra day low. Volume swells as price dips to the AM LOW. If you are looking to get long this is the time and place. Notice a secondary test at 11:00 am as price holds and the volume decreases. Then at 11:40 am price trades a higher high. This confirms the trade and indicates price is going higher.
We are looking for the MID AM HIGH. Up until 12:00 pm you can see lifting supports. Notice a new high prints at 11:50 am as price consolitates for the next 10 minutes. It's durring this consolidation you might want to exit your trade.
It's 12:10 pm and were not trading any higher and we are looking for the lunch low. Notice at 12:15 pm price starts offering down as there is not a bid in sight. By 12:30 pm the Globex low is probed. Notice the volume as shares trade from weak to strong hands. This prints the lunch low.
A technical rally to 12:50 pm and then a drift back down at 1:10 pm. This is the seal of the lunch low. Price quickly starts to lift and offers are taken out as volulme expands. Price recovers 5/8 of the reaction. This is the Sign of Strenth and the Last Point of Supply comes in at 2:10 pm.
If are looking for the mid pm high and that comes in at 2:50 pm. If you've been long all day. Get out. Next we are looking for the LAST HOUR LOW. Some residual bull enters in and price tags a new high / all time high. Still we are looking for the LAST HOUR LOW. And we get it (and lower).
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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: ADP Employment Report at 8:15, PMI at 9:45, EIA Petroleumn Status Report at 10:30, FOMC Annoucement at 2:00 pm, Press Conference at 2:30 pm. All times EST.
Last Night: Review the Actionable Trade Ideas above.
Edge: Last day of cycle. Last day of month with FED YELL.
7/8/9 AM: Held price at the 25 handle waiting on news.
Today: Bulls will need to show up with thier A game.
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 13.24
Shape of the day: Potential bullish trending day with FED YELL.
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 down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH
Bill Fish (4H/4D) Added LONG at lunch low. LONG
Tuna (30m 1+D) Added long at AM LOW. LONG
Sardine (5M-1D) Got long at lunch low and closed at the mid pm high. OUT.
Pre Opening: Price rallied to the 36 and failed.
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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