WyckoffTrader-AMTurn-11172023
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
(Reuters)
After moving sharply higher over the past few sessions, stocks turned in a relatively lackluster performance during trading on Thursday. The major averages spent most of the session modestly below the unchanged line but ended the day narrowly mixed. Dow climbed well off its worst levels.
Yesterday's Technicial Review using
WB's Emini Clock and Wyckoff's Tape Reading . principles
May you live in interesting times. I say that a lot. Each day, we'll talk around the table about what happened today. And each day, it is more depressing than the previous day. Turn on your Bing browser and if AI allows – you'll see the latest meme for the day. I often wonder if everybody gets the same pictures with 30 year old blond females or is it just me?
Still, the market does not care what's going on. At least not yet. Just reflecting upon what happened yesterday you can see WMT brought price down for a while. Perhaps that had to do with what was going on in California.
I'd say the clock is back in synch. The spill up seems on track. The AM HIGH was a bit dismal a bit of a hook. The MID AM LOW was center time. And the lunch high a bit early and weak. The mid pm low center time once again. Now what comes after the mid pm low. That's the LUNCH HIGH. Late and strong and finished strong.
Not that would be the timing yesterday if you wanted to frame it out. You'd see the Supply and Support trend line helping you confirm your suspicion of potential turns of the day. Around 11:30 am you can see 10 minutes later that supply line getting taken out at 11:40 am.
If you look at the support line. It's a bit stretched out, around 11:40 am price gets over bought and indicates a potential turning point. Price works its way down the supply line. Then at 2:35 pm, price gets violated and the short term trend is to the up upside.
From 3:00 pm to 3:30 pm price works its way back up the support line and closes strong. This content is 100 percent Human Made Organic (HMO)
good morning today is SERIES S1H with clock getting in synch.
News: Housing Starts and Permits at 8:30. All time EST.
Last Night: After failure to probe lower on the AM LOW bulls become enboldend to take price higher. Now trading near Wednesday's high.
Edge: It's the end of week and first day of cycle. You could see price push for higher highs.
7/8/9 AM: Price is in a slight up trend looking to challenge the 55 handle.
Today: Providing news at sail, price seems to be positined for a up move.
Bulls want: 45, 57, 62
Bears want: 20, 08 ,93
Globex: 16 handle trading range on 148 volume.
Cycle Bias: Favored to the bull
Tone: VIX trading at 13.84
Shape of the day: Potential for a strong trend either way. Odds leaning to the bull.
Honing: Waiting on clock to settle with other time zones.
Bill Fish (4H/4D) Bought in their shorts at MID AM LOW. OUT
Tuna (30m 1+D) Bought in their shorts at MID AM LOW. OUT
Sardine (5M-1D) Got long at the MID AM LOW. Bailed at the CLOSE. OUT
Pre Opening: After the numbers price stated to see some slight checking at the 39 handle.
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!
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)
