Issue 1,792 – Copyright, 2024, by Wyckoff AM Trader
From yesterday: Good morning. Today is SERIES S3L Normal with the spill up.
BY my eye it was a S3L day, your results may vary. No real lean from yesterday. It was a gap up, then cap and crap down to the Friday's high / settle. Standard moves for a holiday week. Traders who were long closed out:
IMPRO: PITBULL :(10:13:21 AM) : going flat everything after a million $$ run
That about says all.
BY 12:45 PM a bid started to come it as the lunch low was sealed. There is no momentum so don't expect price to get driven anywhere. A move up to the mid pm high barely got checked at the 1/3 retracement. This is not a good bullish story. The market will need more. Volume will tapper off.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S4H with the spill down.
1. Last Night: Asians take price down to the 76 and the PEONS take it back up to the 20 handle. It's low volume low interest trade.
2. Large Size: Some came in at the 98 and then about 3K at the 20 handle. Looks like they are also checking 5K at the 23 handle.
3. 7:00 AM / Premarket: No news to move the needle.
4. Todays News: Case-Shiller Home Price Index & FHFA House Price Index at 9:00, Consumer Confidence & New Home Sales & Richmond Fed Manufacturing Index at 10:00, 4-Week Bill Announcement & 8-Week Bill Announcement & 4-Month Bill Announcement at 11:00, 52-Week Bill Auction & 2-Yr FRN Note Auction at 11:30, 5-Yr Note Auction & Money Supply at 1:00, FOMC Minutes at 2:00, API Weekly Oil Stocks at 4:30. All times EST.
5. Cycle Bias / Tone: Yes, I'm bullish but it's a low volume day heading into a 2 day thanksgiving weekend.
Traders are talking now that the Trump Tweet is back. Overnight runs due to Trump's tweet talking about tariffs.
6. Honing (turns): Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HOUR HIGH.
7. Previous Day's Numbers:
Open 6026.75
Hod 09:43 6040.00
Lod 12:47 5982.50
Settle 6011.00
Volume 1,298,233
8. Floor Trader Pivots
DAILY 6011.00
R2 6068.50
R1 6039.75
S1 5982.25
S2 5953.50
WEEK 5946.00
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: November 15 Beaver Moon 4:29 p.m. Winter Equinox December 21 4:21 a.m. (all times Est)
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