Issue 1,766 – Copyright, 2024, by Wyckoff AM Trader
Yesterday's Recap: Good morning. Today is SERIES S4L IFFY with the spill up.
Last Night Trade: After selling off hard at the close, the ASIAN market brings price back up. Price is currently testing the 5735 handle. And now they just taken price higher. Currently trading 5770 and change.
That was not a S4L day. More of a S4H day. Looks like the Composite Man had on more push left. And why not. We all need a new all time high. I know this 33 year old guy. He's looking at cashing in his 100,000 CD or at least 50,000 of it. Says he does not want to be left out…
Does that signal a top?
Spill was down. Came into the previous day's high. A bid stepped in at the spill low and well the rest was history. You get the confirmation of the S4H day as the high of the morning trade is center time 10:30 am. You can see a volume spike as R2 is checking to drive up or the mark up by the Composite Man.
Price is checked again at the halfway retracement at 11:10 am which market the MID PM LOW early and weak. Next is the lunch high. It get's sealed at 1:55 pm. Are you starting to see a trend here? Mid pm low is a tad off at 2:20 pm and the last hour high well it's dismal.
It comes in a 3:05 pm which means supply is entering into the equation.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S1L with the spill odds up.
Last Night Trade: After the strong rally in CASH at the close price started to get weak. Overnight price has drifted down a little bit and now holding a bid at the 5770 handle.
Large Size Activity: Around 4:30 & 6:00 at 64 handle, coming in on 5K around the 70 handle.
7:00 AM / Premarket: Small trading range coming in from 60 up to 70 on 17 handle range on 168 lots.
Today's News: No news of note. All times EST.
Cycle Bias / Tone: Favored to the bearish. This could flip. VIX trading at 16.33. We got past the scared roach dance. Traders seemed to have loaded up their wagon. Perhaps one day left in the bearish camp. Let's see what today brings. Globex was on the sale side all night.
Honing (turns): Spill odds up, loupie loop, LAST HOUR ODDS LOW.
9/20/24 ESZ2024
Open 5778.25
Hod 13:55 5797.50
Lod 09:53 5748.25
Settle 5772.75
Volume 1,180,094
DAILY 5772.75
R2 5822.00
R1 5797.25
S1 5748.00
S2 5723.50
WEEK 5558.25
The clock is used to time your entries and exits. Position long at the lows, exit at the highs, get short at the highs, and 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: September 17 Harvest Moon 10:34 p.m. Fall Equinox September 22 8:43 am (all times Est)
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