WyckoffTrader-AMTurn-03212023
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 sharp pullback seen last Friday, stocks fluctuated over the course of the trading session on Monday but largely maintained a positive bias. The strength on Wall Street partly reflected a positive reaction to the latest efforts to address turmoil in the banking sector, including UBS Group's (UBS).
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Call it the "Shot Gun Wedding of UBS if you like for strength in the market today. I'd say, yesterday was the start of def con three but you won't see it for a while. I've been saying for months look for the spring equinox to be the demarkaction line for war.
And what happend? Well it actually started 5:24 pm that day. So China met with Russia to squeeze out America as the Petro Dollar. A riot on Spring Break. And National'ize the money globaly. And Fed One payment system.
Am I forgetting something? Let's see. Hum, Oh yes, Trump the first president to get indicated may be arrested. A least that's what Pence hopes. And Mrs O is looking to knock on the presidents door. Yes, I'd say spring equinox did not dissapoint yesterday… It was on page 5:
"The Spring Exuonix. Currently, we are in what's called the Winter phase. You see it every day or almost every day on page 3. Keep your eye on that date. If it's to go down it will do down on the other side just after that date. It's more to do with timing as opposed to temperature."
A lot of traders thought it'd be chop due to trading inside Friday's range; I thought: By my eye, I'm not really seeing that contagion spreading much further. They made the goal "Nationalize the Banking System" and raise awareness to how money works. Today we get to do it all over again. I'm still bullish."
A strong 2 hour rally took price up to the 11:30 am marker. Then a 40 minute decline takes out over half the the days' gain. Price regains the loss in 70 minutes. And then an hour and fifty minute dip is unable to take out even half of the previous rally. The day finishes strong at the highs. I'd say the day was bullish.
good morning today is SERIES S4H and the SPILL is down.
News: Existing Home Sales at 10:00 AM ET. All time EST.
Last Night: Followed the bulls lead and taken price higher.
Edge: Last day of a bullish cycle with a gap up. Potential bullish day
7/8/9 AM Trade: Took out 4000 handle trading 4018 and holding.
Today: Potential to end on a bullish day if the wind is to the bulls side. (I've said that yesterday)
Globex 38 handle trading range on 158 K volume.
Bulls: need to retake the 4000 want to take the 4066 handle.
Bears: need to retake the 3987, want to take the 3935 handle.
Cycle Bias: Potential favored to bulls.
Tone: VIX trading at 24.61
Shape of the day: Three doors, Normal, Wedge Zoom, Link a Stink
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Pre Opening: Gap up 40 handles away from close. Slightly increased volume to the up side.
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-55/
