Issue 1,774 – Copyright, 2024, by Wyckoff AM Trader
Yesterday's Recap: Good morning. Today is SERIES S1H with the spill odds down.
Just looking at the daily numbers:
Open 5749.75
Hod 11:46 5772.25
Lod 09:46 5724.00
Settle 5765.75
Volume 965,901
Notice the Lod was at the open or 15 minutes after. So we know there was a dip from the open for 15 minutes. The dip recovers the open and then for 2 hours (120 minutes) the bulls ruled. We see the Hod at 11:46 am. Now, notice the Open is 5749 and the Settle is 5765 handles. This tells the day was ruled by the bulls. Now notice the volume. It's less than 1,000,000 lots. Not a strong day either way.
If you looked at the previous day's settle the day closed for the most part unchanged. Notice the dip goes down to 5721 which I mentioned in yesterday's newsletter at S1 floor trader's pivot. Now notice the high is the day is hovering just under the daily pivot of 5772 handle. All if which you had yesterday's morning in the AM TURN.
Just looking at the Globex trade after the Close price is drifting back down trading 5748 handle. IT's a jump ball. Let's see the open.
So, the OpenAI was given a 157 billion valuation and worth more than 62 percent of the S&P? Yea, that's a world I want to live in. Their last statement:
Agents is stage three and means AI is smart enough to reason through an idea and as part of planning its response can go off and perform actions independently.
I'm all for that. Hum, what are we missing? From the post itself:
OpenAI Realtime API makes a call to order strawberries at Dev Day, which is awesome…
but the response latency is ~2s (cutting-edge is <400ms) and the voice doesn't feel as good as "advanced voice mode", it's still devoid of emotions.
Notice the latency. And what are they trying to do? Little company by the name of Earth link? Star link? I think his last name starts with an M and he friends with a man who's first name starts with a T? Right? They got to blanket the planet with 5G/6G/7G. Because they love us so much. They want us to fly fish in remote stream in Montanna, and still get our twitter feed and make cell phone calls for fresh cooked Salmon delivered via door dash.
Who do they think they are kidding it an't for the humans. Don't take those friendly sky's for granted and freedom of the open road!
And it was just 4 years ago 2020 that I first started talking about that…
PROSE and THE NUMBAHS
Good morning. Today is SERIES S2L with the spill up.
Today's News: Challenger Job-Cut Report at 7:30, Jobless Claims at 8:30, PMI Composite Final at 9:45, Factory Orders & ISM Services Index at 10:00, EIA Natural Gas Report at 10:30, Raphael Bostic Speaks & Neel Kashkari Speaks at 10:40, 3-Month Bill Announcement & 6-Month Bill Announcement & 3-Yr Note Announcement & 10-Yr Note Announcement & 30-Yr Bond Announcement at 11:00, 4-Week Bill Auction & 8-Week Bill Auction at 11:30, Fed Balance Sheet at 4:30. All times EST.
Cycle Bias / Tone: The Composite Man seems to be depressing price keeping it low as the supports hold.
Honing (turns): Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH.
DAILY 5754.00
R2 5802.25
R1 5784.00
S1 5735.75
S2 5705.75
WEEK 5788.00
10/03/24 ESZ2024
Open 5749.75
Hod 11:46 5772.25
Lod 09:46 5724.00
Settle 5765.75
Volume 965,901
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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