WyckoffTrader-AMTurn-02022024
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)
Following the sell-off seen in the previous session, stocks showed a strong move back to the upside during trading on Thursday. The major averages fluctuated early in the session but climbed firmly into positive territory as the day progressed. The rebound on Wall Street came as some traders saw opportunity.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
I'm not saying yesterday trading was shooting fish in a barrell but yesterday was shooting fish in a barrell. How may times have you read this? "The rebound on Wall Street came as some traders saw the sell-off on Wednesday as a buying opportunity amid optimism the markets will resume the upward trend seen throughout much of January."
That's what they always say. The next day after the day closes. If you subscribed to the AM TURN, you had everything you needed to gave a great day. Here is just a small expert:
Page 3: "Tone / Sentiment : Bears unable to take price lower on increased volume. Potential Selling Climax. Inside day. Look for choppy day unless price breaks away and follows through lows on seconday test. Potential to regain most of yesterday's loss.
Strategy: Bulls have recovered 3/8 of the loss from yesterday on low volume. If we test CASH lows look for support at 80 handle. If we rally some supply at 98, 07 and 13 handle. Scale in and out per your trade plan.
Shape of the day: Potential bullish trending day with successful seconday test."
In the newsletter I talked about how the shares were traded hands from the weak to the strong. I think most folks just discount that. That actually is how the market works. Sure you got 'Algos, Goldman, Retail along with the bulls and bears.
From my money, It's all about the Composite Man. The combined net forces of all the selling and all the buying.
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 S2L with the spill up.
News: U.S. nonfarm payrolls & Unemployment rate at 8:30, Factory orders & Consumer sentiment at 10:00. All times EST.
Last Night: After the close, price took Globex higher to a new all time high. Diped and regained it again.
Edge: Wow. Who wants to buy at these highs?
7/8/9 AM: Price printed a higher low and found itself in a rally.
Today: Potential to probe for newer all time CASH high
Bulls Want: 70, 80, 90
Bears Want: 47, 31, 26
Globex: 13 handle trading range on 138 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 14.17
Shape of the day: Dog leg from lunch high to mid pm low.
Honing: Spill up, AM LOW, (no mid am), lunch high, mid pm low LAST HOUR HIGH
Bill Fish (4H/4D) Added LONG at 11:00 am LOW. LONG
Tuna (30m 1+D) Added long at 10:00 am and 11:00 am LOW. LONG
Sardine (5M-1D) Got short at 10:30 am closed at 11:00 am LOW. OUT.
Pre Opening: First pop down took away 20 points. That was the trade.
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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