Issue 1,767 – Copyright, 2024, by Wyckoff AM Trader
Yesterday's Recap: Good morning. Today is SERIES S1L with the spill odds up.
Looking at Friday's price action, by my eye, I'm still seeing it more bearish than bullish. Perhaps the Composite Man held the bid at Friday's halfway retracement or perhaps not. It looks like a potential base of accumulation. It was a Friday after a bid Fed number with all time highs.
Up or down rather till 11:30 am the bears looked like they would own the day. And then, the rally. All the way back up to the intraday highs. Wet beaked it and then gave it back. All was looking good from the bears, till that 2:30 pm low. The Composite Man was willing to support it at a higher level. That's not good. A higher low emboldens the bull to take it higher.
And they did at 3:30 pm. Price drifts back down for the close. Over Globex the Asian lifted offers up to 5780 handle.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S4H Normal with the spill down.
Today's News: Raphael Bostic Speaks at 8:00, Chicago Fed National Activity Index at 8:30, PMI Composite Flash at 9:45, Austan Goolsbee Speaks at 10:15, Treasury Buyback Announcement at 11:00 AM, 3-Month Bill Auction & 6-Month Bill Auction at 11:30, Neel Kashkari Speaks at 1:00. All times EST.
Cycle Bias / Tone: A bid came in at the 64 around 10:21 pm. Bulls lifted offer up to the 78 where supply started to enter in.
Honing (turns): Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
9/20/24 ESZ2024
Open 5760.50
Hod 15:40 5775.00
Lod 11:18 5733.50
Settle 5755.75
Volume 1,197,432
DAILY 5754.75
R2 5796.25
R1 5776.00
S1 5734.50
S2 5713.25
WEEK 5736.00
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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