Issue 1,866 – Copyright, 2024, by Wyckoff AM Trader
DAILY:
(yesterday)
Price held the 10 day MA and the 20 day MA. Bulls got their eyes one the 50 day MA. It's a bit away, give it time. However, this is the day when if price is going to start to dip down. It may start today. That was yesterday. And that's why I don't like the MA. They gave it all away yesterday. Now price is in the vortex of the 20 and the 10 MA. If we take out the 20 MA it's onward and upward. If you lose the 10 MA, well you get the picture.
Price is still in the jaws of the 10 and 20 MA.
Just looking at the volume, you can see supply is not being pressed down on the market. The Composite Man is just letting price drift down.
YESTERDAY INTRADAY
6. Honing (turns): Spill odds down, loupie loop, LAST HOUR ODDS HIGH
Good morning. Today is SERIES S1H IFFY. I would anticipate – We are just at the halfway retracement from the last rally. It's a normal retracement. On the down waves I did not see volume pressing. It was more controlled. Perhaps yesterday was a bit oversold. New day. New cycle.
That was an S1H day. Not at strong at the end but still and S1H day. Spill down seal at 9:45 AM right at S1 pivot. The rest of the day is loupie loop. This means it it random. WB would watch the end of the day. The day did not end strong. Stil I'm going with S2L tomorrow.
Notice at 11:0 AM price starts to round over. A 15 minute down move and 90 minute up move. This is followed by a 3 hour down move that removes over 5/8 of the rise. This is not bullish it is bearish. Notice the next rally is checked in an 90 minutes and falls short of the previous rise.
The closing is weak and that makes today IFFY.
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S2L IFFY. I would anticipate – Price to dip down futher. The 56 big even is not too far away. It's a Friday, who want's to go home short?
1. Last Night: Price diped below CASH low found a slight bid and held at the 20 handle.
2. Large Size: No large size of note.
3. 7:00 AM / Premarket: Price is trying to hold on the the 15 handle.
4. Todays News: Personal Income and Outlays at 8:30, Consumer Sentiment at 10:00. All times EST
5. Cycle Bias: You could see a how deep is your three. That down to the PEON close and then up to the lunch high. It will be a hard road for the bulls to hold. Currently price is holding at the S1 5715 floor trader pivot.
6. Honing (turns): Spill up, AM HIGH, (NO MID AM), lunch high, mid pm low, LAST HOUR HIGH
7. Previous Day's Numbers:
Open 5742.75
Hod 11:20 5779.75
Lod 09:44 5720.00
Settle 5743.00
Volume 1,275,092
8. Floor Trader Pivots
DAILY 5747.50
R2 5807.25
R1 5775.00
S1 5715.25
S2 5687.75
WEEK 5713.25
Range 59
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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