WyckoffTrader-AMTurn-02272024
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)
U.S. stocks ended on a negative note on Monday, and the major averages turned weak after a slightly positive start, as investors largely stayed cautious ahead of some key economic data, including a report on consumption expenditure.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
IMPRO: Wyckoff Trader :(10:47:08 AM) : somebody dumping brk.a IMPRO: Wyckoff Trader :(3:43:48 PM) : Warren Buffet is pulling the plug. I don't think folks really understand what I was saying. They been selling that for week and months. Yesterday was the most dup I've even seen volume and price downward extent. Perhaps it was Charlie as the real brains in the deal.
I'm hearing all the boys in the billionaire boys club are dumping thier holding. Strange how Bezos is dumping Amazon as Amazon replacing Walgreens in the DOW and WMT is just happened to go three for one stock spilt as thier retain sector is being shared in the Dow. I'm sure it's just a considence but as WMT went three for one the WMT kids are selling just a few share. Well, perhaps more than a few. 45000,000,000 (four billion) to be exact.
I went with S2L. It was a Monday. That implys that the day will need to determine itself. Friday price behavior was starting to show some supply in the day. I felt, yes perhaps those in the know where unloading on the sly. Still there was a lot of ground gained the previous week.
Perhaps we are going to give up some gains. Some profiting taking. I'm concerned that Warren may be unloading some. At least he was yesterday. Perhaps we will see a bid slip in today. Price traded through the pivot, support one and support two. Price seemed to hold at support two.
You may see a dip down to 5068 handle if a bid starts to come back in.
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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.
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good morning today is SERIES S3L IFFY with the spill up.
News: Durable Goods Orders at 8:30, FHFA House Price Index at 9:00, Consumer Confidence 10:00. All times EST.
Last Night: After selling off to S2 price finds a bid and retraces half of the loss from yesterday.
Edge: If we come back to test, we need to hold the 73 down to the 68 to 60 handle.
This week will deterime of bulls have one more left before month close.
7/8/9 AM: Bulls are getting checked at the daily pivot and starting to retrace back down.
Today: Need to see a strong showing by the bulls else this week could short of weak.
Bulls Want: 98, 07, 23
Bears Want: 75, 68, 57
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 inside chop trading day.
Honing: Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW.
Bill Fish (4H/4D) Waiting to see next direction. LONG
Tuna (30m 1+D) Waiting to see next direction. LONG
Sardine (5M-1D) Got spill up seal. Exit at the AM LOW. OUT
Pre Opening: Holding just around daily pivot.
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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