Issue 1,799 – Copyright, 2024, by Wyckoff AM Trader
From yesterday: Good morning. Today is SERIES S2H with the spill down. 2. Large Size: They only large size was after the Jobs numbers. 7K lots came off at the 94, 4K at the 96, and 4K at the 99 handle. Looks like the Composite Man was checking the rally. 5. Cycle Bias / Tone: Traders have been waiting all week for the jobs numbers. This may move the needle and set the tone for the day.
You have to put it into perspective. We've had a hard run up the past couple of days. Is price too high? Is price too overbought? Well you can't be too overbought, just overbought. It's like saying a girl is too pretty. (that's a country song)
It's just overbought. Now some folks may say it's too long but not too overbought.
The day was S2H and Friday. The point to notice is the floor trader pivot and the halfway retracement of the previous day. If we hold those it's a good day. Wyckoff would say; "A minor area of weakness in a major area of strength"
I always keep that in mind. The Jobs number gave us an artificial buldge. Wyckoff would say; need more information. Really need to know the next direction of the trend. The S2H indicates the AM HIGH. We got that at 10:00 AM with the upthrust out of the previous day's high. Notice how price just hangs up here.
You can see lifting supports but the upthrusts are shortening and lower than the one before. You are looking for the AM HIGH. You got it. Next window is lunch low since there is no MID AM turn. If you went short some where up their say at 10:40 AM and waited till you saw the down move at 10:50 AM. That would have given you confirmation your idea was right. Then on the move back up to 11:00 AM you could have added or just pilled on short for the lunch low.
From there you could have drawn a downtrend channel and easily seen price was contained. Got a little oversold around 11:15 AM and price rallies back up to the supply line. Then once again at 12:05 PM. Then the lunch low seal at 12:45 PM with the confirmation up to recover 5/8 of the decline.
DO you see how you can use WB and Wyckoff and determine the next potential turn?
WB's clock gives you the framework. Sure it does not work every day but when it does…
I only add this because it was nice to see.
I'm think of adding the nightly videos back for purchase but my videos are too long for most folks!
Daphu: Daphu :(2:24:21 PM) : why dont u do some seminar with all the delta cycle stuff for the members
Daphu: Daphu :(2:24:38 PM) : just a 20 min explanation
Daphu: Daphu :(2:24:55 PM) : seems some guys have some interest again
Daphu: Daphu :(2:25:08 PM) : maybe help your newsletter
IMPRO: Daphu :(2:27:16 PM) : wycoff see dm
IMPRO: Justbob :(2:27:32 PM) : Rev see dm
IMPRO: Reverie :(2:28:01 PM) : Ha! Indeed
IMPRO: Justbob :(2:28:36 PM) : lol
Daphu: Wyckoff Trader :(2:32:32 PM) : thank, I will consider that, I appreciate it!
Daphu: Wyckoff Trader :(2:39:20 PM) : ok, I'll see if I can put something formal together thanks!
Daphu: Daphu :(2:33:51 PM) : they are all asking about it, 90 pct have no idea lol, i prob have 30 pct idea lol
Here's the normal:
IMPRO: Wyckoff Trader :(8:50:36 AM) : Good morning. Today is SERIES S2H with the spill down.
IMPRO: Wyckoff Trader :(9:06:55 AM) : thanks for the video Manny I never knew all those cubicles it looked like a science fiction movie. All that gold. Silly
IMPRO: Wyckoff Trader :(11:10:15 AM) : AM HIGH widow sealed; looking for lunch low
IMPRO: Wyckoff Trader :(1:14:13 PM) : potential seal of the lunch low; window still open
IMPRO: Wyckoff Trader :(2:17:35 PM) : yes, when the trend is in WB's clock is your friend!
IMPRO: Wyckoff Trader :(2:18:13 PM) : You could see how it consolidated at the AM HIGH; it was going down to the lunch low
IMPRO: Wyckoff Trader :(2:18:48 PM) : Trading withing the range of the previous day higher probability to drift lower
IMPRO: Wyckoff Trader :(2:18:54 PM) : Sell sign been on all day…
IMPRO: Wyckoff Trader :(2:19:13 PM) : just watch out for the 'scare da bull'
IMPRO: Wyckoff Trader :(2:19:24 PM) : then who want's to go home short on a Friday?
This really set it for me:
IMPRO: Manny :(7:35:26 AM) : GC – From my former employer – A short well produced video on the the rally in Gold.
IMPRO: Manny :(7:35:38 AM) : https://www.youtube.com/watch?v=72jdzIsXJSI
PROSE and THE NUMBAHS
Good morning. Today is SERIES S1H NORMAL with the spill odds down.
1. Last Night: Over the weekend price drift back down to about the halfway retracement of Friday's Globex range. Call it the 90 handle and gets a bid currently trading 96 handle.
2. Large Size: Sold 1.9 K lots at the 92 handle and that was it.
3. 7:00 AM / Premarket: Not really seeing anything moving the needle.
4. Todays News: No news of note. All times EST.
5. Cycle Bias / Tone: I could be dead wrong on this and price could just keep on going down. I'm looking at the rally from the lunch low up to 1:20 PM Friday. It recovers 5/8 the decline. Notice how we came back in a 2:30 PM price could not even wetbeak the current day's low or the previous day's settle. Now this was being driven by: AMZN, QQQ, NQ, and TSLA. Go Figure?
CPI this Wed and PPI this Thursday seems to be on deck for traders focus this week.
6. Honing (turns): Spill odds down, loupie loop, LAST HOUR ODDS HIGH
7. Previous Day's Numbers:
Open 6094.50
Hod 10:01 6111.00
Lod 14:31 6090.00
Settle 6098.25
Volume 897,705
8. Floor Trader Pivots
DAILY 6099.75
R2 6120.75
R1 6109.50
S1 6088.50
S2 6078.75
WEEK 6081.75
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: December 15 Cold Moon 4:02 a.m. Winter Equinox December 21 4:21 a.m. (all times Est)
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