WyckoffTrader-AMTurn-02212024
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 mostly lower during trading on Tuesday, extending the pullback seen during last Friday's session. The Nasdaq showed a notable move to the downside amid weakness among tech stocks. The weakness on Wall Street partly reflected ongoing anxiety about the outlook for interest rates.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
From yesterday page three: "Tone / Sentiment : Bears have had a three day weekend to share thier story to the cubs. Market trading below daily, three day, and weekly pivot.
Overnight Read: After a long weekend, nervous about the Fed's monetary policy outlook this week and the FOMC Minutes to be released on Wednesday. Early signs from the U.S. Futures Index suggest that Wall Street might open lower on Tuesday. The market movement might be influenced by earnings and geopolitical developments across the globe. As of 7.45 am ET, the Dow futures were down 124.00 points, the S&P 500 futures were declining 16.25 points and the Nasdaq 100 futures were sliding 79.50 points.
Mathematical / Technical Read: Today's pivot is 10 handles below Friday. Friday was more bearish trending day. The 27, 14, and 06 has been taken out. Bearish mood.
Strategy: As we said before, we've lost all the pivots. The news is bearish. Look to short if we lose the 5000 handle. Potential support down at the 4986. If short close shorts and probe from longs if 86 holds. If we lose 86 could see some support that the 73 handle."
It doesn't get better than that. And it doesn't happen all the time. When it does happen, it's good. The Spill up sealed in five minutes. The 5000 handle was taken out. Our next turn is AM LOW. It you went short as mentioned and closed out at 4986 – you had a good 12 handle run.
If you waited till the lunch low guess what. You got the full monety. Those were just natural levels you see on page one every day.
Wyckoff Tape Reading, WB's Clock, and Floor Trader Pivots. A Trifecta of Trading Perfection.
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: FOMC Minutes at 2:00. All times EST.
Last Night: After close price drifted down to erase half of the previous rally then rallied up to the daily pivot and sold off the test yesterday's near low.
Edge: Price is under weekly, 3 day and daily pivot. Bears ball to lose.
Need to see if the bears can wake up and pick up the soap.
7/8/9 AM: Seeing some supply at the 4984 handle.
Today: Could see some selling pressure slip into the fray.
Bulls Want: 85, 93, 00
Bears Want: 66, 55, 43
Globex: 19 handle trading range on 138 volume.
Cycle Bias: Favored to the bear.
Tone: VIX trading at 16.04
Shape of the day: Odds and probibliiies.
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH
Bill Fish (4H/4D) Holding longs. LONG
Tuna (30m 1+D) Holding longs. LONG
Sardine (5M-1D) Got short at MID AM HIGH. Out at the lunch low. OUT
Pre Opening: After the numbers price offered down and lost 20 handles.
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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