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
Following the volatility seen to close out the previous week, stocks turned in a relatively lackluster performance during trading on Monday. The major averages spent the day bouncing back and forth across the unchanged line. Waiting on Federal Reserve's monetary policy announcement on Wednesday.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
I'm still short from the high's of my birthday (14th). I just didn't think the responce from the lows was strong enough to get a bounce going. Perhaps, traders are waiting on the FED again. Perhaps… What ever the reason the bulls didn't get it done yesterday. The bears didn't get it done yesterday. Wyckoff would have said price put in an unfiar low. And put in an unfair high. And closed somewhere in the middle.
First round went to the bears. Second to the bulls. A down move for 20 mintues responded by a 50 minutes. First round gos to the bulls. I was S1L. Well I didn't feel too well. Looked like the bulls were going to rule the day but the day was young.
By 11:00 am the bears were unable to take price down to just half of the previous rally. 20 minute up and 20 minutes down at 11:15 am. If you were looking to get long the market, this would be the place. You can see the algo's get into high gear for the next 10 minutes by lifting offers out of the current intraday high.
A 45 minute move up indicates to bulls are looking to probe higher highs. The weekly pivot is 4520 and this is the prior Fridays last rally high.
A 15 minute down move is checked at 12:15 pm and the day is over for the bulls. It's the bears time to shine. The next move is down for 50 mintues. This is the longest durration on a reaction for the day. Notice the loss is greater than the loss from 12:00 pm to 12:15 pm. The next rally last 20 minutes and mearly wetbeaks the current intraday high.
If you were looking to exit that long and get short the market, this might be the place at 1:40 pm. The market confirms that by selling off for 50 minutes. Next notice a quick rally for 5 minutes at 2:40 pm.
If you were looking to add to that short. Not a back place for the market sells off for the rest of the day.
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good morning today is SERIES S2H Iffy and the SPILL down.
News: Housing Starts and Permits at 8:30. All time EST.
Last Night: After a weak close, price rallies back up to the 4505 sees supply the dips to the close. The rallies back to wetbeak the 4510 handle.
Edge: I'm bearish while most are bearish. You'll know soon after the open. It could be a crowed gate before Wednesday
7/8/9 AM: Holding the 4505 handle with slight bias to the supply side.
Today: Bears need to extend the line while the bulls need to defend. (same as today)
Globex: 13 handle trading range on 108 volume.
Cycle Bias: Favoried to bears.
Tone: VIX trading at 14.06
Shape of the day: In a wait and see FED mode day.
Honing: Spill down, AM HIGH, (NO MID AM), lunch low, mid pm high, LAST HOUR LOW.
Pre Opening: Price has started to offer down to the big even. For the most part the 8:30 am numbers was a no event event.
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/