WyckoffTrader-AMTurn-02092024
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)
After ending Tuesday's choppy trading session modestly higher, stocks showed a strong move to the upside during trading on Wednesday. The Dow and the S&P 500 set new record closing highs, with the latter reaching an intraday peak just shy of 5,000.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Some traders in chat were talking about the day as flipping to the other side. As for me, if you feel you need to flip it then flip it. However, by eyes, it did not need flipping. It's like WB would say; "Shooting elephants with needles." I think he'd say that instead of saying your full of it.
The day before was bullish. That make the next day Choppy / Sideways. Bulls just need to hold thier gains. The bears did not really have an edge in the prevous day. The Composite Man was not looking to take price either way. Bullfish and Tunna's were on the sidelines. It was the Sardenees, the man in the seat, the floor traders that were picking each others pockets.
The spill down sealed around center time 9:40 am. Next the AM HIGH. It's Debbie Day. We could have a Link a Stink or a Wedge Zoom. Odds though did not favor either. It was going to be sideways choppy trading.
We'd like to see the AM HIGH take out the previous close but it did not. The next turn MID AM LOW comes in center time 10:30 am and set's the new low of day. Notice the volume. Also notice the GLobex low was untouched. See the volume expand as price moves up? That's bullish price behavior.
We have the lunch high and then the mid pm low. Notice the mid pm low is a higher low than the AM LOW. What is that? That's higher lows and higher highs. And that's what the clock printed yesterday. That's why I say the day was S4H day. Where was the high of day. Last hour last print.
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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 S1H with the spill odds down.
News: CPI seasonal factor revisions at 8:30. All times EST.
Last Night: After holding the daily pivot of 5013 price probed the R1 of 5022 then stalled.
Edge: Could see a drift back to test some of yesterday's range.
No news today and price is on a constant drive up. Volume is low and it's a Friday.
7/8/9 AM: After leavign the 5022 starting to see some supply at the 26 handle.
Today: Potential to retrace yesterday's range.
Bulls Want: 24, 32, 48
Bears Want: 12, 01, 96
Globex: 14 handle trading range on 88 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.06
Shape of the day: Odds and probabilites kind of day
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH
Bill Fish (4H/4D) Held existing longs. LONG
Tuna (30m 1+D) Held existing longs. LONG
Sardine (5M-1D) Got long at AM LOW out at MID AM HIGH. OUT.
Pre Opening: After the numbers price spikes up to the 5043 handle and pulls back.
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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