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
With renewed concerns about the outlook for interest rates weighing on the markets, stocks moved mostly lower over the course of the trading session on Wednesday. The major averages spent much of the session on opposite sides of the unchanged but all came under pressure late in the trading day.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading Principles
Those long term numbers still held their had thier lines drawn on most traders charts but they just did't seems to hold any stickability in holding the line.
IMPRO: Wyckoff Trader :(3:36:47 PM) : WB might have said; "Through and Through" regarding that fib support wykoff level
(3:17:42 PM) : I'm biased short looking to see yesterdays low fall. Would like to have seen more volume on yesterdays relief rally. (3:18:09 PM) : Issue # 1, 510 AM TURN bdee :(3:18:26 PM) : the birthday short giving quite a gift great trade wyckoff! (3:18:48 PM) : Indeed it is, inteed it is!!!
(3:11:00 PM) : press on to that 62. (3:33:02 PM) : just 50 cents more. That should just about say it all. May reasons but the main reason this thang can't stay up. We had, AI, ARM, CART. Do we really need it? Last I checked, the numbans were doing ok. It's IPO. The FED, you can't second guess the FED!!!
The market got what they thought and it still went down. Go figure? If you lookat the chart on page 4, you can see how the minutes from the MID AM LOW up to the lunch high was just a grind for the bulls. After 90 minutes bulls were unable to put on the board just 9 points.
Notice the dip and then the rally back was unable to gain just 4 points in 5 minutes. If you were looking to get short, this just might be the place. The next move down is 30 mintues and losses 10 point while setting a new low of day. This give confirmation to the bearish side. Then a 5 minute rally tags 7 points before the FED Yell. Not that you would have shorted it there. If you wait, it will test it again…
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good morning today is SERIES S4L and the SPILL up.
News: Jobless Claims & Philadelphia Fed Manufacturing Index at 8:30, Existing Home Sales & Leading Indicators at 10:00, EIA Natural Gas Report at 10:30. All time EST.
Last Night: Drifted down. Held the 4444 then later in the night gave it up. Traded down to the 4410 handle got slight rally.
Edge: Bulls gave it up yesterday and now bears are pressing for prevoius supports. Big even is in their sights.
7/8/9 AM: PEONS are pressing on the 4400 handle and lower.
Today: Bears need to extend the line while the bulls need to defend. (same as today)
Bulls needs: 44, 55, 71
Bears needs: 90, 82 , 77
Globex: 37 handle trading range on 228 volume.
Cycle Bias: Favoried to bears.
Tone: VIX trading at 16.04
Shape of the day: This day could end weak if offers press on the big even 4400 handle.
Honing: Spill up, AM LOW, MID AM HIGH, 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. (that give even was 100 handles higher yestserday)
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/