Issue 1,809 – Copyright, 2024, by Wyckoff AM Trader
I trust you enjoyed you Christmas vacation or at least the days you took off to enjoy your reason for the season.
I certainly did!
Today still holiday trade. Some say the start of the Santa Clause rally. Officially I'm not certain where that starts and ends.
On Christmas eve the bulls jammed price up to 11:00 AM and then walked away. Over Globex (when it opened) price drifted down a bit found a bid about the halfway and as CASH was opening decided to take price just over the Christmas Eve high. Some supply came in and price started to drift down.
Most of the DOW 30 securities were up from where they traded Monday. Not all but most. There is a bias to the bullish side.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S3L NORMAL with the spill down.
1. Last Night: Just a slow drift down to retrace yesterdays range.
2. Large Size: I did not see any large size.
3. 7:00 AM / Premarket: Not seeing any activity.
4. Todays News: 2-Yr FRN Note Settlement International Trade in Goods (Advance) & Retail Inventories (Advance) & Wholesale Inventories (Advance) at 8:30, EIA Natural Gas Report at 10:30, EIA Petroleum Status Report & Baker Hughes Rig Count at 1:00. All times EST.
5. Cycle Bias / Tone: Traders are looking for a Santa Clause rally to make the books turn greener. Will it happen? The bigger boys are away but the ALGO's are at play. Place your bets. Roll the dice and see.
6. Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR LOW
7. Previous Day's Numbers:
Open 6079.25
Hod 12:19 6107.50
Lod 09:55 6063.25
Settle 6092.50
Volume 716,795
8. Floor Trader Pivots
DAILY 6087.75
R2 6132.00
R1 6112.25
S1 6068.00
S2 6043.50
WEEK 6010.08
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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