WyckoffTrader-AMTurn-02262024
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 extended Thursday's substantial rally in early trading on Friday but turned in a relatively lacklusterperformance over the remainder of the trading session. Despite the choppy trading, the Dow and the S&P 500 reached new record closing highs.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
An't nothing gonna stop us now. Well maybe not! Friday's trade was an extension from Thursdays distribution. At least it gave us the confirmation. You can see a gap up above Thursdays range and then by the opening spill price starts to round over. The whipping boy was NVDA. What goes up must come down. And the Q's.
After the end of the day it's easier to see. Was the day fliped? Perhaps. At these levels. At these all time highs, your shooting needles at elephants. The best trade was the short trade. And it went against most traders comfort levels. That's why it was the best trade. You can see at 10:00 am, 10:20 am, and 10:40 am the bulls got nothing left in the tank.
Price starts to roll over. Then at the high of the previous day a little sideways. And the next 10 minutes down price accelerates into the previous days' close and volume slightly swells and price starts to hold a bid. If you looked at the strongest horse (NVDA) you would have seen it had already started to hold a bid and start it's way back up.
Every dog has it's day in the sun. It will not be long for NVDA so look for others to come into the fray. As for AI – it's really a big old red dictionary of synonyms and antonyms of the human experience wrraped into a riddle of Python, C++, Medadata and everything ever pushed on the Internet with a social filter for your viewing pleasure.
Einstein once said; "Realiety is an illusion, abet and damn good one. AI is just algos translated from the human experience. Sadly it reflects the human experience. It's good and it's bad. We''ve seen it in a movie before. And now, we are seeing in it real life.
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.
Please be sure and "white list"
feedback@wyckoffamtrader.com
trader@wyckoffamtrader.com
demio@wyckoffamtrader.com
so I don't get lost in your email inbox (Junk and SPAM folders)
good morning today is SERIES S2L Normal with the spill up.
News: New Home Sales at 10:00. All times EST.
Last Night: After a week close, price springs Fridays low and finds a bid.
Edge: Need to see a recovery of Friday half range of 05 to 09 for a strong bull story.
This week will deterime of bulls have one more left before month close.
7/8/9 AM: Price has rallied up to big even and trading sideways.
Today: Need to see a strong showing by the bulls else this week could shart of weak.
Bulls Want: 08, 16, 23
Bears Want: 91, 85, 73
Globex: 15 handle trading range on 118 volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 13.97
Shape of the day: Potential for a strong trend day.
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: Trying to regain the big even. Holding bid for now.
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)
Comments are closed