WyckoffTrader-AMTurn-02232024
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 showed a substantial move to the upside during trading on Thursday, with the Dow and the S&P 500 reaching new record closing highs. The tech-heavy Nasdaq had also been poised to set a record closing high but ended the day just shy of its November 2021 levels.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
I was working with AI today, to get a better understanding of how NIVDA was driving the market. Giving Sydney a run thought to find her strengths and weaknesses. As you may recall, I predicted back in 2020 how AI would become a major puzzle piece in our lives.
So I asked her what she thought of the market today and she said: "It was going to be an S2L series day." Well, I was GOD SMACKED! Cause that was the day. It was a strong S2L Series day. I asked her where she got the information and she said she assumed that it might be. I asked her what a Series S2L day and she said that she did not know.
I thought she was reading my keystrokes. Cause I'd just sent out the AM TURN a few minutes ago. I prompted and prompted her and she said she had no idea what that was. So I just gave it a rest and put it on the many anomalies list in my reality.
She was right the day was: S2L day. The Spill up lasted for what a minute. A five minute down move and Wow, We are at all time highs. The AM LOW held late and strong at about 10:50 pm. Traders were now getting upset. On respectable trader in the seat would pay up at these prices. I'm shorting was the mood of the crowd.
Yes, sure you were. There is no MID AM turn. OH but let's wait for the dip and get long. Well, you missed it at the AM LOW. It's just a constant grind up the lunch high. It Sealed at 1:45 pm. Now we are looing for the MID PM low. It' gets tricky.
It comes in at 2:55 pm leaving the traders perplexed. Are we going to take out the current intraday high? The LAST HOUR HIGH is a bit dismal as it wetbeaks the current intraday high and price starts to trade sideways.
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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: No news of note. All times EST.
Last Night: Overnight price has drifted down to the 92 and found a bid. Trading near all time highs
Edge: It's a Friday, we had a hard grind up. Price will need to hold it's supports.
Need to see if the bears can wake up and pick up the soap. (said that a few days)
7/8/9 AM: Price has been in a slight rally and testing the big even.
Today: Could see some selling pressure slip into the fray and then bulls pick up steam and check for probing Globex highs.
Bulls Want: 02, 07, ?
Bears Want: 93, 84, 74
Globex: 12 handle trading range on 128 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.97
Shape of the day: Rope follows expansion. Need a surgons scaple to trade it.
Honing: Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH.
Bill Fish (4H/4D) Exited some longs at the LAST HOUR HIGH. LONG
Tuna (30m 1+D) Exited some longs at the lunch igh. LONG
Sardine (5M-1D) Got LONG at the AM LOW. Exited at lunch high. OUT
Pre Opening: After the numbers price held the 5103 handle and is waiting on CASH opening.
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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