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
Stocks showed a lack of direction in early trading on Thursday but moved notably higher over the course of the session. With the upward move on the day, the Nasdaq and the S&P 500 reached their best closing levels in over nine months.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Yes I nailed yesterday with the cycle. And if you belived in the clock you should have made bank.Notmally the cycle would invert. It did not it kept on bullish. Take note of the following reasons why.
Start of new month. Now it will either be good for the bulls or not so good. The volume showed up but can the bulls sustain and hold the price? Lets take a look at Globex before yesterday open. Notice price held the bid right at the close. A slight dip to the halfway correction. Bears could not test the low. Then price shows lifting supports and takes out the high. Later the upthrust low is tested and holds at a higher low. Up until the Employment number it's just a constant slope pitch up.
The numbers rattle the cage a bit but still a higher low is held up to CASH open. On the open price takes it higher and then tests the open. After that test holds, it's nothing but a strong bullish rally. At mid day price was trading at 1.2 MM volume.
Another push up price holds. Then an additional push up and you start to see some checking in the market as price is unable to make further advances on increased volume. By my eye, it's looks like some bulls are selling into the rally.
On page 2 PROS and NUMBASHS: Last Night: Gets a bid at the 4230 and takes price higher up to 4250. Edge: All the market forces seem to be aligning up for what is to become a pivotal outcome. 7/8/9 AM: Currently seeing some checking at the 50 handle. Today: Second day of Month and first day of cycle. For now, the path seems to be up.
Family and friends often tell me I should be more direct with my works. I don't know how more direct I can be.
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good morning today is SERIES S4H Normal and the SPILL is down.
News: Factory Orders & ISM Services Index at 10:00. All time EST.
Last Night: After a hard push up Friday, the Weekend has held tight around Fridays close.
Edge: All the market forces seem to be aligning up for what is to become a pivotal outcome. (friday)
7/8/9 AM: Currently seeing some checking at the 4300 handle.
Today: Should know real quick if this was a false move up or the real thing.
Globex 12 handle trading range on 138 K volume.
Bulls: need to retake the 4323 want to take the 4355 handle.
Bears: need to retake the 4277, want to take the 4253 handle.
Cycle Bias: Potential favored to bull.
Tone: VIX trading at 18.02
Shape of the day: Three Doors: Normal, Wedge Zom, Link a Stink
Honing: Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
Pre Opening: Potentail for trading inside Friday's range.
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 $8 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: May 5 Flower Moon 1:34 pm. First day of Summer Jun 21 10:57 pm (all times est)
Last Friday's Opening print: https://mrtopstep.com/from-the-desk-of-wyckoff-trader-55/