WyckoffTrader-AMTurn-07222024
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)
Stocks moved mostly lower during trading on Friday, with the Nasdaq and the S&P 500 extending the steep drop seen over the two previous sessions. The narrower Dow also moved to the downside, pulling back further off the record closing high set on Wednesday. Finished the day firmly in negative territory.
Yesterday's Technical Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
There was only one trade yesterday. And that was short. I was short a few times. And a few times I was long with a close stop. The Volume the previous was twice the volume. The market did not care. I opened below settle / unchanged. All the traders on all the desks saw red. The futures were screaming sell.
All I saw was volume. Sure after the open and first five minutes we saw 23 handle. And recovered the close. Wyckoff would have called that an opening buldge. We lose it quickly by 9:50 am. I thought the seconday test was GLOBEX. The market thought different. It was more of a secondary test with a #2 Spring.
You could call it a weak S2L or a just a strong S2H. The center times really don't align up. Price seemed to be holding at the 5555 handle.
Volume seemed to come in a surge the last five minutes and hold the bid. Now we are looking at a spring. This could be a resting spell for futher downside movement or potential accmulation for a move up.
We need to see the next rally take out the previous high of any move. Still seeing lower tops. For now, bulls have put together two and half hours of holding a bid at the lows. Let's see what today brings.
Wyckoff Trader,
P.S. If you've read this analysis, you might be curious when the best time to consider a position: (Sydneys / AI Read)
Based on your description, it seems like there were several potential opportunities to enter and exit trades yesterday. Here are some possible interpretations:
1. Opening range breakout: You mentioned that the market opened below the settle/unchanged price and quickly recovered the close, forming an opening range bulge. This could be a potential opportunity to enter a long trade, with a stop loss below the opening range low. If the market breaks below the opening range, it could indicate further downside movement.
2. Secondary test and spring: You identified a secondary test with a #2 spring, which could be a potential opportunity to enter a short trade. A spring is a price action pattern where the market tests a support level and fails to break it, indicating that the support level is strong. However, if the market breaks below the support level after the spring, it could indicate further downside movement.
3. Accumulation and potential reversal: You mentioned that volume surged in the last five minutes and held the bid, which could be a sign of accumulation. Accumulation is a phase where smart money is buying and building a position. This could be a potential opportunity to enter a long trade, with a stop loss below the low of the accumulation phase.
4. Lower tops and continuation: You mentioned that the market is showing lower tops, which could indicate further downside movement. If the market fails to take out the previous high of any move, it could be a sign of weakness and a potential opportunity to enter a short trade.
In terms of exit strategy, it's important to have a clear profit target and risk management plan. You could use technical analysis tools such as trend lines, moving averages, or Fibonacci retracement levels to identify potential profit targets. Additionally, you should always use stop loss orders to manage your risk and protect your capital.
Overall, it's important to be patient and wait for clear signals before entering a trade. Yesterday's market action showed several potential opportunities, but it's important to wait for confirmation and follow your trading plan.
And they want Sydney / AI robots for politicians. Can you not see she does not really understand. If she did she would have said S1L day. She just tokonizes everything and spits it back at you. The pigs are on the airstrip. Soon pigs will start to fly… (subsuite pigs for ?)
With that started here are the "PROSE and THE NUMBAHS"
good morning today is SERIES S1H with the spill odds down.
News: No news of note. All times EST.
Last Night: See Actionalble Trade Plan above.
Edge: It's a jump ball day. My lean is to the up side.
7/8/9 AM: Price has been negoating the 5600 handle and holding.
Today: See Actonable Trade Plan above.
Bulls Want: 95, 04, 14
Bears Want: 81, 74, 67
Globex: 34 handle trading range on 188 K volume.
Cycle Bias: Favored to the bull.
Tone: VIX trading at 16.12
Shape of the day: Strong trend day either way.
Honing: Spill odds down, loupie loop, LAST HOUR ODDS HIGH.
Bill Fish (4H/4D) Started taking some off durring rally. OUT
Tuna (30m 1+D) Started taking some off durring rally. OUT
Sardine (5M-1D) Did not see an edge. OUT.
Pre Opening: Seeing some supply at the 5592 handle.
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!
Your edge is a series of trades, not just one trade or one day.
Dates: March 25 Worm Moon 3:00 a.m. Spring Equinox March 20 5:24 pm (all times est)
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