Issue 1,846 – Copyright, 2024, by Wyckoff AM Trader
Yesterday: Good morning. Today is SERIES S3H with the spill down.
I do not think yesterday was a S3H day. I know that goes against the grain. I don't!
Perhaps we will get the "smack down" today. If we do I guess I was wrong. I don't like to be wrong but sometimes I am. As I write Globex seems to be holding its own trading above the close. That's a good sign. The question on my mind is do we test the lows again?
Yesterday you almost get a fell it's going to go bad for the bulls. Price tried to take back the settle and fails. By 9:45 AM the current low is lost as well as the previous day low. Bears just get on it and keep offering down till about 10:30 AM where the pliminary suppot comes in and give price a boost from the lows.
The secondary test comes is at 11:30 AM which could also be a selling climax due to the increased volume. Price rallied tried to recover the previous day's low and trades sideways till the cloes.
We could see a test of the selling climax today or price could get a bid and try to recover previous days high.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S4H with the spill down.
1. Last Night: Price is on a constant grind to take out the previous day's high. We've seen it before.
2. Large Size: No large size to speak of.
3. 7:00 AM / Premarket: Currently trading just below yesterday's high around 5994 waiting for the next shoe to drop.
4. Todays News: New Home Sales at 10:00, EIA Petroleum Status Report at 10:30, Treasury Buyback Announcement 11:00 & Survey of Business Uncertainty at 11:00, 4-Month Bill Auction & 2-Yr FRN Note Auction at 11:30, Raphael Bostic Speaks at 12:00, 7-Yr Note Auction at 1:00, Treasury Buyback Results at 2:00. All times EST
5. Cycle Bias: I could be wrong on this, but I do feel that we have a potential preliminary support or preliminary selling climax due to the expanded price extent and expanded volume coming off the lows.
Three Doors: Normal, Wedge Zoom, Link Stink.
6. Honing (turns): Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HIGH
7. Previous Day's Numbers:
Open 6000.50
Hod 09:37 6007.75
Lod 11:34 5924.00
Settle 5977.50
Volume 1,851,034
8. Floor Trader Pivots
DAILY 5969.75
R2 6053.50
R1 6015.50
S1 5931.75
S2 5886.00
WEEK 6098.00
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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