Issue 1,838 – Copyright, 2024, by Wyckoff AM Trader
Yesterday: Good morning. Today is SERIES S1H with the spill odds down.
This day is more middy that clear. Perhaps the "Big Short" is on and those in higher places do not want America to be 'Great Again'?
I'm not sure. I do fell everyone outside this country Wheater rich or poor wants into the country. Either through investing money or investing efforts. We still got some potential downside, till we might see the upside side. This week should lean it one way or the other.
Early today, we really didn't have a good read on the bulls or the bears. For the first ten minutes it looked like the bulls. A sideways move form 20 minutes and then a pop up that fails. So let's call it a 30-minute rally. A move down for 10 minutes. If you are looking to get long, you just found it.
The day is S1 Series Day. I went with H as High in AM turn. I say we got it!
Now, where do you think price is going to head towards? Previous day's close. For the next 45 minutes it's a grind up.
Then for the next 85 minutes a drift down. Notice at 12:00 PM volume climaxes the down move. A quick pop up on increasing volume. Then a 40-minute move down takes away just half of the rally. IF you are looking to get on board for the first time. This is it. IF you are looking to add to you long position, you've found it.
You have a higher high and a higher low. A 30 minute move up with a 10 minute side way action. So call it a 40 minute up move. The bulls hold a 25 minute down move at a half way correction. A 30 minute up move tags the intraday high and then a slight drift down for 30 minutes closes the day.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S2L with the spill up.
1. Last Night: Price held the close. Drifted back to the half way retracement of the CASH range. Then, drifted back up to the 6086 handle. (that's the daily pivot)
2. Large Size: Some size came in at the 75 handle at 4:20 AM as a bid was held.
3. 7:00 AM / Premarket: Holding the daily pivot for now.
4. Todays News: CPI at 8:30, Jerome Powell Speaks at 10:00, EIA Petroleum Status Report at 10:30, 4-Month Bill Auction at 11:30, Raphael Bostic Speaks at 12:00, 10-Yr Note Auction at 1:00, Treasury Statement at 2:00. All times EST.
5. Cycle Bias / Tone: We will need a catalyst if price is going to take out the overhead supply. Till then is chopping away. Falling back. Regaining. Then chopping away. That was somewhat what happened Friday. Could see some more downside providing the news is not too expected.
Yes, that what happed yesterday but notice the bias is still to the bulls. It's a full moon. Price is holding the weekly pivot of 6063 and tempting to big even 6100 and perhaps more by end of week.
Potential dog leg from lunch high to mid pm low.
6. Honing (turns): Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH
7. Previous Day's Numbers:
Open 6065.00
Hod 14:43 6098.75
Lod 09:31 6064.00
Settle 6092.25
Volume 824,093
8. Floor Trader Pivots
DAILY 6085.00
R2 6119.75
R1 6106.00
S1 6071.25
S2 6050.25
WEEK 6036.67
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: February 12 Snow Moon 8:53 a.m. Spring Equinox March 20 5:01 a.m. (all times Est)
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