Issue 1,868 – Copyright, 2024, by Wyckoff AM Trader
DAILY:
If you back up the chart to the weekly and draw a long term support line, you can easily see where Dec, Jan, and Feb price was unable to penetrate the supply line. This is indicating weakness. There is still some more to go. You could see 5509 being tested before it's all over.
Price did not get to the 5506 but it did get to the 30 handle. The opening drive down checked the price and it was the bulls ball to lose. Guess what? The bulls did not lose a step. Hard push up to the LAST HOUR LOW. Currently price is still below the 10 and 20 MA.
YESTERDAY INTRADAY
Good morning. Today is SERIES S1H NORMAL. I would anticipate – Price either to hold these low are start to test upper grounds.
5. Cycle Bias: The cycle starts over today. I would say some bullish tendencies due to that 2 hours of trade hesitation. All guidance is blaming the bad on the Trumps tariffs. This day could see more downside until April 2, Independance day. Let's just see how the day plays out when CASH opens.
Spill down sealed at 9:45 AM as 18,000 lots held the bid at the 5534 handle. The rest of the day was odds and probabilities. The odds were on our side. The day ended green at the highs. The LAST HOUR HIGH ODDS sealed at 5674 on 10,000 lots. That's a 139 range for the day. The clock ruled the day.
Looking at all the securites. A rising tide lifts all boats. That's the best take on what yesterday was
PROSE AND THE NUMBAHS
1. Last Night: Currently price is trading just 10 handle settle. Looking for direction just before 8:30 numbers.
2. Large Size: Some larger size on the bull side was seen as price was drifting down.
3. 7:00 AM / Premarket: Nothing moving the needle as yet before the numbers.
4. News: PMI Manufacturing Final at 9:45, ISM Manufacturing Index & Construction Spending & JOLTS at 10:00. All times EST
5. Cycle Bias: The cycle starts over today. I would say some bullish tendencies due to that 2 hours of trade hesitation. All guidance is blaming the bad on the Trumps tariffs. This day could see more downside until April 2, Independance day. Let's just see how the day plays out when CASH opens.
Let's see if we get the KEWPIE DOLL today. The price movement and volume looked to be on the bulls side. Notice the volume at 2:00 PM. Increasing as price extends upward for 20 mintues then a grind to the highs. Notice the volume 1.749,985 highest bulls run in a few days/weeks. Bulls got a lot of woods to cut.
The last 10 mintines volume seems to have surged and checked the bulls rally. Price man need to absorb some supply at the open and during the AM LOW.
6. Honing (turns): Spill up, AM LOW, (NO MID AM), lunch high, mid pm low, LAST HIGH.
7. Previous Day's Numbers:
Open 5563.50
Hod 15:44 5672.75
Lod 09:47 5533.75
Settle 5645.50
Volume 1,749,985
8. Floor Trader Pivots
DAILY 5617.25
R2 5756.25
R1 5700.75
S1 5561.75
S2 5478.25
WEEK 5684.50
Range 139
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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