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
U.S. stocks recovered after an early setback on Monday, but still ended on a mixed note, although shares from the technology space outperformed, spending much of the day's session in positive territory. Concerns over the fallout of the collapse of Silicon Valley Bank rendered the mood quite bearish at the start.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Ok if you want to put the past three days into perspective, I'd suggest go watch "It's a Wonderful Life" (first 13 minutes) and "The Wizzard of Oz" foucs on the man behind the curtain. I did fell bullish yesterday morning:
Some say it was due to Silcone bank. I saw the banks selling off eariler this week. Perhaps it was interest rates. I'm still not seeing it really bearish. Price did work it's way back down to test the lows. And on every break it seems to be getting a strong bid.
This day is the fourth day in a bearish cycle. Perhaps it will start to get more bullish as a start of a new week begins. Price really does not seem to be responding to the news. That is with the exception of J Powell on the mike. It's more about second guessing what he might do as opposed to what the fundemantials show.
It's a traders market. And if you are looking for the ideal trade with confience, perhaps you might want to keep looking. This markets for now are more about weaker hands with exacting numbers to fade or trade. Keep calm and carry on. It's dayling saving time so the clock may be out of synch for a few… The PEON clsoe is going to be skewed. Keep that in mind.
At the open we had a strong push up for 30 mintues then a pullback for 20 minutes that held at the halfway retracement. Then a 80 minute move up. A 100 minute move down that wapes away over half of the gains and a 60 minute move up that is unable to wetbeak the current intraday high.
This day ends the cycle and a potential bullish cycle will start today.
good morning today is SERIES S1H and the SPILL is odds down.
News: CPI at 8:30 AM ET. All time EST.
Last Night: Bulls rallied price from the lows to the highs and took out the highs
Edge: It's the first day of the cycle. Potential for a bullish move.
7/8/9 AM Trade: Held price at the highs
Today: May open close to the highs with an inside day.
Globex 45 handle trading range on 258 K volume.
Bulls: need to retake the 3897 want to take the 3943 handle.
Bears: need to retake the 3806, want to take the 3788 handle.
Cycle Bias: Potential favored to bulls.
Tone: VIX trading at 26.52
Shape of the day: First day of cycle. Potential for bullish day
Honing: Spill odds spill down, loupie loop LAST HOUR odds low
Pre Opening: CPI numbers retraced half of Globex range. Potential chop start of day.
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/