WyckoffTrader-AMTurn-02052024
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 higher over the course of the trading day on Friday, extending the recovery rally seen during trading Thursday's session. The major averages more than offset the steep drop seen on Wednesday, with the Dow and the S&P 500 reaching new record closing highs.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Friday night over Globex held the highs and then the Job's numbers came. Sure, price needed to test the 3:00 pm spike and we die. The Composite Man took price even higher. That is after supporting the spike. And he did!
It was a S2L day. That puts the spill up about 9:50 am. Next we are looking for the AM LOW. What did you think? Did you think it would be late and strong. How about Center time. Well, is was early and weak. About 10:10 am that is.
What is that telling you about the day? Put it context with the past couple of days. Most traders are afraid it was going to fall back down. Not to say that it couldn't or wouldn't. That's what the last hour is for. That's what the last hour on a Friday is for. Cause…who want's to go home short on a Friday?
It's the basic game that play out every day. Fear and Greed. In this case, fear of missing out. And Greed, it's can go higher. Just wait ill the last hour.
Now we are looking for the lunch high. Center time on a day like today in times like theese is around 12:30 pm. And guess what. Center time it was. I made an hour video. Price down every minute back. How price was unfolding. You see it. It was an ideal S2L day.
On and S2L day we are looking for a Dog Leg. That's the distance from the high to the low from the lunch high to the mid pm low. And what kind of dog is it?
We get the dog leg about 2:05 pm and then we just ram it up to LAST HOUR HIGH at 3:10 pm. This is telling you something. What is it?
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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 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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