Issue 1,800 – Copyright, 2024, by Wyckoff AM Trader
From yesterday: Good morning. Today is SERIES S1H NORMAL with the spill odds down.
That was NOT an S1H day. So where would you have pulled up on the stick and course corrected to a S1L day?
1. Price opens in the range of the previous day.
2. Price opens under close / settle of the previous day.
3. Price opens just under the floor trader daily pivot.
That a good hint.
IT's odds and probability on the S1 day. The odd was spill down seal. By 10:00 AM the bulls just dropped the soap and gave it up to the bears. You can see the previous day low and the Floor Trader pivot S1 in view. Price just goes through (WB might have said a through and through) takes out the previous day's low and finds a bid at 11:10 AM.
The bear raid had been going on about an hour and forty minutes. Wiped the smile right off the bulls face. Tore through a lot of levels and got too short. You can see at 10:45 AM price is getting overextended. If you look closely you'll see 7K, 5K, 3K, and then 4K holding the bid.
A 50 minute rally recovers half of the loss and then a 30 minute rally takes away half. Bulls wetbeak it again just under S1 and supply enters again to take price back down. Bulls are able to hold a bid after 10 minutes at the 5/8 retracement and takes price back up half of the day's range.
This is telling you a bid is entering but they are not ready to take price up. The Composite Man checks the rally and then you get a drift back down. Notice we lose the floor trader pivot S1 at 1:30 PM. This indicates we have a higher probability to probing floor trader pivot S2.
Notice around 3:50 PM a bid starts to enter in around 6K lots.
Some were saying the China news over Globex was the driving factor.
Now add this to what we talked about last week. And that's how big money is MADE!!!
At a Bitcoin conference in July, Trump promised to dismiss crypto-skeptical Securities and Exchange Commission Chairman Gary Gensler. Trump then proposed the idea of a national Bitcoin reserve, telling attendees to “never sell your Bitcoin.” Crypto-friendly Sen. Cynthia Lummis (R-Wyo.) has introduced a bill to establish a Bitcoin reserve that, if passed, would see the government purchase 1 million of the digital tokens, or about 5% of the global supply, over five years. As of Monday, a reserve of 1 million Bitcoins would be valued at just under $100 billion.
Now that is a beautiful thang. You will need to look a last week to better understand how/why and duck taped banana sold for $6.1 million dollars…
PROSE and THE NUMBAHS
Good morning. Today is SERIES S2L IFFY with the spill odds down.
1. Last Night: Price sprung the low. Held at the 55 handle.
2. Large Size: I did not see any large size last nite.
3. 7:00 AM / Premarket: Nothing moving the needle.
4. Todays News: No news of note. All times EST.
5. Cycle Bias / Tone: I'm iffy cause the volume was one of the highest (1.1 MMM) in day's and we have a potential strong technical position with the weak hands giving up their shares to the strong. I would still like to see price trade above the floor trader pivot.
CPI this Wed and PPI this Thursday seems to be on deck for traders focus this week. We are slowly easing into holiday trade.
6. Honing (turns): Spill up, AM LOW, (NO MID AM), lunch high, LAST HOUR HIGH
7. Previous Day's Numbers:
Open 6096.00
Hod 09:34 6097.75
Lod 16:10 6060.00
Settle 6061.50
Volume 1,114,068
8. Floor Trader Pivots
DAILY 6073.00
R2 6110.75
R1 6086.00
S1 6048.25
S2 6035.25
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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