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 rallied on Tuesday, bouncing back from recent losses, thanks to hectic bargain hunting, particularly in the banking sector. The assurance from the regulators that there won't be a relapse of the financial crisis from 15 years ago helped lift sentiment. Data showing a drop in U.S. consumer prices.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
So the rich get richer and the traders got long at yesterdays open. So now the bank is bailed out, as their assets are sold for pennies on the dollar. We had a questionable president set another questionable precedent for the feds and the banking industry. I told you the banks we being bought by bigger interests Friday.
Did history repeat itself Sunday? They just cleaned out the party and put out another punch bowl. I did not trade today. I went to a funeral of a 96 year old man. His sister was 88 and as she was showing me her last picture of her brother when he was last alive, I swiped over and the next picture was another funeral. I told her you to need to take more pictures between funerals.
She asked me about XON and the market and the future of this country and digital currency. I shared with her the long and short game on page 6. She completely understood. And others at the table agreed (and one lady was 93). As a trader, you've seen this play out time and time again. They run the market down, it's a S4L day then they run it back on the S1H day.
It's a cycle. Birth, Innocence, Adult, and Death. Death is the lowest vibration of life and the highest vibration of death. S1, S2, S3, and S4. Yesterday was S1H.
And what did I say: "Shape of the day: First day of cycle. Potential for bullish day" on page 2. On page 4: "My Story: It was a slam dunk they were going to get bailed out. So market would naturally rally on news. It's was a Monday. Let's see what the today's CPI numbers have in store for price behavior."
What was my inside edge? The clock and naturally they say: "Bargain Hunting in the banking sector". And what did I tell you Monday and Tuesday of this week? A bid was in the Banks and bigger interests were buying. Who did you think today's bulls bought from?
good morning today is SERIES S2L IFFY and the SPILL is up.
News: PPI & Retail Sales & Empire State Manufacturing Index at 8:30, Business Inventories & Housing Market Index & Atlanta Fed Business Inflation Expectations, EIA Petroleum Status Report at 10:30. All time EST.
Last Night: Bulls tried to take price higher and failed.
Edge: Something spoked Globex and price is selling off below yestserdays low.
7/8/9 AM Trade: Trying to hold a bid at the 3840 handle.
Today: May see futher downside action if selling pressure.
Globex 93 handle trading range on 188 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 27.54
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/