Issue 1,847 – Copyright, 2024, by Wyckoff AM Trader
Yesterday: Good morning. Today is SERIES S4H with the spill down.
The clock was muddier as what appears to be a soap drop at the AM HIGH.
Bulls made a showing and then decided to let price just drift back down. About what we expected and talked about yesterday. Price tags the previous day's high and then just drifts back down. The key is that the low is higher than the previous day.
Yesterday's daily floor trader pivot is higher than the previous day. That's indicating some buying pressure. Notice price has closed higher than the previous day. It's not a whole lot to brag about if your bullish. Price still may be tempted to test Tuesday's low if supply is checking the rise.
PROSE and THE NUMBAHS
Good morning. Today is SERIES S1H with the spill odds down.
1. Last Night: We've seen this before. Price gets a bid start creeping up to trade the current day's high.
2. Large Size: I say we got a potential base of accumulation but no real large size.
3. 7:00 AM / Premarket: As of this current writing. Market is just trading at previous days high. Holding 6010 handle.
4. Todays News: Thomas Barkin Speaks at 8:30, New Home Sales at 10:00, EIA Petroleum Status Report at 10:30. 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.
Odds and probabilities
6. Honing (turns): Spill odds down, loupie loop, LAST ODDS HIGH
7. Previous Day's Numbers:
Open 5987.25
Hod 11:15 6023.75
Lod 14:09 5945.50
Settle 5975.50
Volume 1,580,376
8. Floor Trader Pivots
DAILY 5981.50
R2 6059.75
R1 6017.50
S1 5939.25
S2 5903.25
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)
Comments are closed