WyckoffTrader-AMTurn-02012024
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 lower over the course of the trading day on Wednesday, with the major averages all moving to the downside following the mixed performance seen in the previous session. The tech-heavy Nasdaq posted a particularly steep loss, extending the notable pullback seen on Tuesday.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
What took seven days of ill gotten gains the FED took away in less than two and half hours. You could see that last two days bulls were unable to gain a following to take price higher. The volume was less than 1MM more like .877 K. This is telling you that the up move will not last.
The canarry in the coal mine came as the last hour to thirty minutes signaled the bid would NOT hold. Blame it on AI if you like. That was the latest shiney shiney. What a joke. Humaniety is capable of soo much. We allow tech is reduce out gifts and give it to tech. I guess Sydney has clay feet…
I had the day as S4H due to the cycle, the FED hower had other ideas. I would not call it a Link a Stink due to the sharp moves. It was just muddied.
The first five minutes call it the spill or the opening ballance signaled the bulls rule was over as within minutes the low of day was taken out. A hard push down for 25 minutes. After the news it did not get better for the bulls.
Sure they held the AM LOW late and strong. A rally emerged. The lunch low was a higher low. And just after the FED yell price probed the MID AM HIGH. And then failed. That was the signal it's not going up. It's going down. Abandoned yea all hope!
At 2:05 price took out the current low of day on a volume surge. Automatic rally recovered the lunch low and the AM LOW on greatly increased volume. And then the rally. At first it looked promosing. Volume was increasing as price moved up. And then the volume started surging as price started to overlap itself.
This is telling you supply is entering in.
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 S1H with the spill odds down.
News: Initial jobless claims & U.S. productivity, 8:30 S&P U.S. manufacturing PMI (final) at 9:45, ISM manufacturing & Construction spending at 10:00. All times EST.
Last Night: Review the Actionable Trade Ideas above.
Edge: First day of cycle. First day of month. Potential Selling Climax.
7/8/9 AM: Found supply at the 95 and starting to head south.
Today: Potential test of yesterday's low.
Bulls Want: 89, 13, 25
Bears Want: 72, 66, 50
Globex: 23 handle trading range on 178 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 14.17
Shape of the day: Potential bullish trending day with successful seconday test.
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH
Bill Fish (4H/4D) Added LONG at LAST HOUR LOW. LONG
Tuna (30m 1+D) Added long at LAST HOUR LOW. LONG
Sardine (5M-1D) Got long at AM LOW and closed at the MID AM HIGH. OUT.
Pre Opening: After the number price pulled back to the 85 handle were on Globex resistance became support and now rally back to test the big even.
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: February 24 Snow Moon 7:30 a.m. Spring Equinox March 20 5:24 pm (all times est)
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