WyckoffTrader-AMTurn-02072024
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.
c NEWS / FUNDAMENTALS
(Reuters)
Following the rally seen over the two previous sessions, stocks showed a significant pullback during morning trading on Monday. The major averages staged a recovery attempt over the course of the afternoon but still finished the day in negative territory.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
As the day opened while I was preparing for the AM TURN, I got the news that Tobby Keith; Country Music's Wayward Son had passed. It bothered me. One more spark of life snuffed out. Perhaps it was for the better. He did not resoniate with this reality. The last picture I saw, he was marking time. I saw him once in 2015 along with a little high school girl who just written a song called "Timm McGraw."
And Tobby Keith had won song wirtter of the decade. I'm glad he was recogoned before he left. And that little girl? Well she went on to earn billions and billions. And snapped the 13 Album of the Year award from Jay Z.
The market open up on the Spill up. It sealed at 9:50 am. Next we are looking for the AM LOW. Center time would be ideal around 10:30 am. It came in just at center time. Next, there is no MID AM turn. We are waiting on the lunch high. The lunch starts at 12:00 pm and ends at 1:57 pm.
Around just before 2:00 pm the lunch high is sealed. Call it 1:57 pm. Next is the mid pm low. It came in at 2:20 pm early and weak. Next is LAST HOUR HIGH. It was not ideal. And you might have given up on it around 3:10 pm where you saw that volume spike. If you did, you did all right.
However, if you stayed till the end. It wasn't the high of day but it dug into that opeing ballance a bit.
Keith's I want to talk about be was one of the first. They were afraid the Karens would get upset. However, on the time line, there were no Karens. They had not been invented yet…
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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 S3L with the spill up.
News: International Trade in Goods and Services at 8:30, EIA Petroleum Status Report at 10:30 AM ET. All times EST.
Last Night: Price has managed to get over thier skies at the 88 handle.
Edge: Could see a move back up to test the Monday's highs. (finaly)
Over the weekend FED was shaking up the tree. Price still held in a tight range.We have an inside day from yesterday. And Globex traded bullish.
7/8/9 AM: Rallied from the 72 up to the 88 handle.
Today: Potential to probe the highs from Friday and this week.
Bulls Want: 82, 97, 07
Bears Want: 62, 53, 39
Globex: 14 handle trading range on 128 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 12.98
Shape of the day: Normally holding previous day's gains. Today perhaps taking out all time highs and stalling.
Honing: Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW
Bill Fish (4H/4D) Added long at AM LOW. LONG
Tuna (30m 1+D) Added long at AM LOW and mid pm low. LONG
Sardine (5M-1D) Got long at AM LOW out at lunch high. OUT.
Pre Opening: Starting to see some supply at the 88 handle.
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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