WyckoffTrader-AMTurn-09182023
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)
With traders reacting positively to a slew of U.S. economic data, stocks showed a strong move to the upside during trading on Thursday. The major averages all moved notably higher after ending Wednesday's trading narrowly mixed. Commerce Department report showing retail sales in the U.S. increased.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
After looking at the last hour from yesterday's trade, I saw some major supply being offered in SPY in the last hour. I'm never sure on those 100K trades. SPY was hitting it for 450K and on close it was 1,2500 K. I picked up a calculator and decided I needed to change my floating point reference to see the digets…
So, (if you read page five) being my birthday I put on a short trade after market close and walked out the door. I had a great time with family and friends. I gave me a nice meal, sang happy birthday (it never gets old, only you get a year older). I then went down on Main Street (Bog Segar) and had a great time with the ladies.
I got back late, I was a bit underwater but still felt price would seeon be coming back to roost. Now I did not think it would go this far. Actually, WB would have just fliped the cycle and went with S2H day. Perhaps it was a S2L day with a how deep is your three.
If you were looking for the best trades, short at the open if you could have went market. If youi look at the times on page four you'll see the first move was 30 minutes with 20 points given up. This sets the stardard. Next 10 minutes with 10 points. Second place to get short. Price is bulls are half the strength of the bears. Price is getting checked at the halfway correction.
A series of balanced waves and then the current low is taken out at 11:50 am. Perhaps it was a how deep is you three? The next move is 25 minutes down on 20 points. It's 11:00 am and the morning trade is over. Perhaps you could wait till the test of the low at 11:20 am where in 15 minutes price is only able to take away 5 points. Take the trade off and banks your profits on the short.
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good morning today is SERIES S1L Normal and the SPILL odds up.
News: Housing Market Index at 10:00 AM ET. All time EST.
Last Night: Tried to come off the 4505 but just gave it up and started offering down. Price probed the Sep-7 low looking to probe lower.
Edge: I'm bearish while most are bearish. You'll know soon after the open.
7/8/9 AM: Trying to hold a bid at the 4490 handle. No news to pop at 8:30 am.
Today: Bears need to extend the line while the bulls need to defend.
Globex: 20 handle trading range on 148 volume.
Cycle Bias: Favoried to bears.
Tone: VIX trading at 14.65
Shape of the day: Odds and probabilites. Need price to shape the next three days.
Honing: Spill odds up, loupie loop, LAST HOUR ODDS LOW.
Pre Opening: Be got a bounce off that Sep-7 low but not a roaring bounce. Bulls will need to comit at the open
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: September 29 Harvest Moon 5:57 am. Autumn Equinox September 23 6:50 pm (all times est)
Last Friday's Opening print: https://mrtopstep.com/from-the-desk-of-wyckoff-trader-55/
