Issue 1,869 – Copyright, 2024, by Wyckoff AM Trader
Happy independence day!
You'd think cutting out the excess fluff would make something lighter. Some securities are falling like a rock. Did you get a look at JNJ yesterday? Talk about falling like a rock. They said the Kennedy defunded some ideas. I wonder if that had something to do with JNJ? I'm amazed when you get on the gravy train. It's not hard work or smart marketing. It's just guaranteed income.
Now, it looks like Cramer is switching horses and against the tariffs. Looks like he is hedging his bets. To me that means the bigger players are bullish. He's just a shill that sits in his corner and cries into his Scotch every Friday night. That's not my words it's his without the shill.
DAILY:
Look who's knocking on the 10 MA door. Price is back baby!
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.Looking at all the securites. A rising tide lifts all boats. That's the best take on what yesterday was. ]
Perhaps I accidently cut out the good morning part but that what it was. Notice the spill up seal at 9:50 AM set the measured move down for the AM LOW seal at 10:20 AM. I just love it when it does that. The clock just rocked yesterday. With no MID AM turn the lunch high seal was 12:20 PM. That's early and weak. Bulls were unable to gather a following at these levels.
Next turn is the mid pm low. Notice the move down from 12:20 PM to 12:45 PM was rallied with a halfway normal retracement at 12:50 PM. A 25 minute down followed by a 15 minute up is telling you there is more downside to follow. Price drifts all the way back to test the opening balance range. This seals the mid pm low at you guessed it late and strong at 2:55 PM.
The last hour is LAST HOUR HIGH. The seal is at closing print. The day overall was not bullish it was more to the bearish side. Perhaps it's April second or perhaps it was April 1 (April fools) day? Expect wild sings today.
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S3L. I would anticipate – Perhaps it's going to be a wild ride.
1. Last Night: Price did what you'd expect it retraced yesterdays range. Waiting on the 20 percent.
2. Large Size: Large size was on the bullish side. Found support at the floor trader pivot S1 5618 handle.
3. 7:00 AM / Premarket: Nothing really to move the needle. Waiting on the CASH open.
4. News: ADP Employment Report at 8:15, Factory Orders at 10:00, EIA Petroleum Status Report at 10:30. All times EST
5. Cycle Bias: The price movement yesterday would indicate some bearish tendencies. I will double down today.
6. Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST LOW.
7. Previous Day's Numbers:
Open 5638.75
Hod 12:21 5751.00
Lod 10:22 5712.75
Settle 5674.50
Volume 1,495,924
8. Floor Trader Pivots
DAILY 5656.50
R2 5756.25
R1 5700.75
S1 5618.25
S2 5562.00
WEEK 5684.50
Range 94
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