Issue 1,831 – Copyright, 2024, by Wyckoff AM Trader
Yesterday: Good morning. Today is SERIES S2L with the spill up.
And now, looking at Globex you can see it's trying to get over its skies… And it was. Up to 11:00 hour then 11:30 AM supply started to press down on the market. While all that sounds really good, Friday really looked more as a S2H day. That day does not end well for the bulls.
The AM HIGH comes off of center time at 10:35 AM. There is no MID AM turn. Lunch low at 1:30 PM center time. Mid pm high at wait for it 2:30 PM center time. Are you seeing a trend here? Last hour turn just off of center time at 3:40 PM. A move up for 30 minutes wet beaks the current intraday high.
Don't hesitate to flip the cycle if you can see it's best fits the narrative and technical of the day.
By 1:19 PM when the sell button turns on and the range extends 13 handles from 3 – that's a good indication the day has flipped to the bears. Also. Let's look at the turns. Slow grind up from 9:40 AM up to 11:15 AM. A dip down for 60 minutes gives up the half of current profits.
This is telling you the bulls are exhausted from the opening buldge and are unable to attract a following. This enboldens the bulls from the next 40 mintues. And then the next minute supports break and the market gives up it's gains.
I've been talking about that and I will be the first to say: "If Trump is not careful. If Trump is out Trumped by billionaire boys club, he will be building a highway / bridge to nowhere. It might be called Trumps boondockle. If you just do the math you will see a potential 300 data centers could be built. That is if we could get the capacity for the KW/Giga Terra Watts to the concrete buildings.
(see the videos and math from the previous weeks)
PROSE and THE NUMBAHS
Good morning. Today is SERIES S1H NORMAL with the spill down.
1. Last Night: Over the weekend Globex drops lower.
2. Large Size: Not seeing any large size to speak of.
3. 7:00 AM / Premarket: Price is hanging round 5968 waiting for the next shoe to drop.
4. Todays News: PMI Manufacturing Final at 9:45, ISM Manufacturing Index & Construction Spending at 10:00, 3-Month Bill Auction & 6-Month Bill Auction at 11:30, Raphael Bostic Speaks at 12:30, Alberto Musalem Speaks at 6:30. All times EST.
5. Cycle Bias / Tone: We got through the big numbers. Fed day YELL. Call it 6065.25 handle. Currently trading at 6092 handle. Weekly pivot was 6095 handle. If bulls can hold that I'll be a good day.
Yes I said that yesterday. Notice the low of day was 6056 handle. The daily pivot was 6066 handle. We recovered the FED YELL and the weekly pivot.
Yes I said that Friday and Friday the bulls lost the day but not the week. This was the end of month. Perhaps some were selling to take profit.
6. Honing (turns): Spill odds down, loupie loop, LAST HOUR ODDS HIGH
7. Previous Day's Numbers:
Open 6122.50
Hod 11:14 6147.75
Lod 16:05 6057.75
Settle 6063.75
Volume 1,589,746
8. Floor Trader Pivots
DAILY 6089.75
R2 6179.75
R1 6121.75
S1 6031.75
S2 5999.75
WEEK 6081.00
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: December 15 Cold Moon 4:02 a.m. Winter Equinox December 21 4:21 a.m. (all times Est)
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