Issue 1,806 – Copyright, 2024, by Wyckoff AM Trader
From yesterday: Good morning. Today is SERIES S2L with the spill up.
For nine straight days. It's a 50 handle trading range. Cramer just popped up on a YouTube video. Tonight's. I say fade Cramer. I had a best friend that worked with Cramer. He said Cramer was a doof. Yada, yada, yada. He's saying buy what's moving. Cut your losses. Cramer talking scalping pennies.
Well, after 10 minutes he's talking buy low and sell high or not sell at all and build a long term position. Now I'm worried. IS he the Sirons call to the sailors (investors). Let's see what FED day has in store for us. I'm still bullish but IFFY.
This is the last full week of trading. Then Christamss all over the world with a shortened week. And perhaps a Santa Clause rally. Volume is dropping off. Cramer is saying buy, buy buy. That is never a good sign!
OK so the trade was to fade Cramer. Some folks are saying this is a good buying opportunity. Some savvy traders are saying:
HLCamp 14:46:04 And clocking out a little early for updating the stock reports and then packing for the EU and UK for three weeks.
That's how feel. Low volume low liquidity get's dicy as this is the last full trading week of the year. The contract changed FV is around 79 as opposed to 3. Yes that's a big different. SO today makes it the 10 day loosing streak…
PROSE and THE NUMBAHS
Good morning. Today is SERIES S3L IFFY with the spill up.
1. Last Night: As traders were debating would it go up would it go down. It went up. A drift up.
2. Large Size: There was some large trade interest as price dipped to the lows and grinded up to the highs.
3. 7:00 AM / Premarket: Perhaps some checking at the 8:30 level but nothing is really showing up.
4. Todays News: Housing Starts and Permits & Current Account at 8:30, Atlanta Fed Business Inflation Expectations at 10:00, EIA Petroleum Status Report at 10:30, Treasury Buyback Announcement (Preliminary) at & 4-Month Bill Auction at 11:30, FOMC Announcement at 2:00, Fed Chair Press Conference at 2:30. All times EST.
5. Cycle Bias / Tone: It's holiday trade FED DAY with FOMC hiding in the weeds. I'm still bullish. It could get dicy. Some traders are saying "Chickin Little the sky is falling if the FED ziggs when it should have zadded with others are saying onward and upward.
6. Honing (turns): Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH
7. Previous Day's Numbers:
Open 6124.00
Hod 10:51 6148.00
Lod 16:07 5906.50
Settle 5929.75
Volume 1,937,382
8. Floor Trader Pivots
DAILY 5994.75
R2 6236.25
R1 6083.00
S1 5841.50
S2 5753.25
WEEK 6090.50
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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