WyckoffTrader-AMTurn-03022023
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)
Following the lackluster performance seen in the previous session, stocks continued to experience choppy trading on Wednesday. The major averages spent the day bouncing back and forth across the unchanged line. Report ISM on U.S. manufacturing activity in the month of February.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
If the longer term traders do not step up the short term traders can do this for a long time. That would about sum up the S4H Abnormal day. It just was not a Debbie day. Did we had a Wedge Zoom? I'd say yes, but the bulls droped the soap. The more I keep WB's clock the more I start to see the cycle. They start to get "printed on my forehead". You'll read that in the book of Revelations but what it means is that it gets imprinted upon your consciousness.
Cycles begin / Cycles end. Waves begin / Waves end. The first sellign wave start at ten 10:00 am for 15 minutes. You can see on page four as S2 is respected. Notice for 5 minutes resistance to the down wave. Then at 10:15 am a slight up wave. Then 5 minutes down at 10:35 am. This last down wave was 10 minutes shorter then the first down wave. The bears are exhausted and unable to get a following. That is the key is understandign the wave. Can each wave get a following? And when does that following end?
At 10:35 you can see and up wave for 10 minutes. Look closer 5 minutes in, it's following starts to waver. Who's holding the soap? The bulls. Where do they drop it? Straight up 11:00 am or 5 minutes before. Get accoustomed to seeing the waves in the market. Get accoustomesd to seeing WB's clock turns.
Ok I get long where the MID AM LOW seals 11:20 am. I wanted to see it take out those two humps. The prevous day low and settle. And why could't it? The buying wave has been going on for 30 minutes. A 10 minute down wave at 12:05 pm and an 5 minute up wave ends with a wetbeak at 12:10 pm. That was the lunch high.
Did I get out no. I wanted to see it take out the two humps. A 30 minute down move to 12:35 pm with a 20 minute up move seales it at 12:45 pm. Did I get out? Yes, the lunch high was done. Looking for mid pm low.
good morning today is SERIES S1L and the SPILL is up.
News: Jobless Claims & Productivity and Costs at 8:30, EIA Natural Gas Report at 10:30. All time EST.
Last Night: Drifted down to probe 1/20 lows then rallied to get checked at the low of the previous day.
Edge: Price / Trend / New day bearish cycle.
7/8/9 AM Trade: On the edge of a long term supply line.
Today: If the bulls do not show up at the get go, it might just be the bearish day. Nothing down till the 3900 handle.
Globex 40 handle trading range on 278 K volume.
Bulls: need to retake the 3965 want to take the 4003 handle.
Bears: need to retake the 3925, want to take the 3900 handle.
Cycle Bias: Potential favored to bear.
Tone: VIX trading at 21.03
Shape of the day: First day of a bearish cycle. Let's see if it flips.
Honing: Spill odds up, loupie loop, LAST HOUR ODDS LOW
Pre Opening: Short oversold with a gap leaning towards the 3900. Perhaps lower.
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!
Offing Events: War in Ukraine is starting to gear up for full scale kinetic war. And now we have Leopards in the Fray. And now Jets (F-16's). Look for Spring Equnoix as demarkation war / no war. Cost of Inflation is raising $7 eggs and climbing. And the flow entering from Southern border.
Your edge is a series of trades, not just one trade or one day.
Dates: Mar 7 Worm Moon 7:40 am First day of Spring Mar 20 5:24 pm (all times est)
Last Friday's Opening print: https://mrtopstep.com/from-the-desk-of-wyckoff-trader-60/
