Issue 1,875 – Copyright, 2024, by Wyckoff AM Trader
Happy independence day! (week after)
If the plan was to force the other countries to remove their tariffs, then well down. If it wasn't, then what was it?
IMPRO: seeker :(12:26:33 PM) : does he realize a self induced crash ends his presidency and cant be easily undone past a certain point?
IMPRO: Wyckoff Trader :(12:27:36 PM) : he should not have cried uncle
DAILY:
IMPRO: seeker :(12:38:24 PM) : Ok-here it is. NQ traded through the 7% limit because CME chose NOT to lock limit because ES did not get there. I have traded the NQ limit down 50+ times in my life, I have never need rhe exchange allow to trade through the limit to correlate with ES. Huh-learn something new everyday.
IF you bring up that long term continuous contract on the weekly, you'll see that price just found support this week at the March 23, 2020 low and the Octmber 10, 2022 low. Now, you can see how in November and December price was unable to penetrate the overbought line for weeks. Some say they want to hurt Trump by putting naked shorts on the market. I don't see that. It was poised to pull back.
Yes, I know Damion been saying but so was the price movement, volume, and time!
That down move checks the retracement to 50 percent. Price movement could walk that support line for days or weeks. At least one more day this week.
YESTERDAY INTRADAY
[ Good morning. Today is SERIES S3L IFFY. I would anticipate – After a hard showing by the bulls it may be the bears turn and play. Perhaps today. ]
And they did. If you gotten short at the end of the day Wednesday. You'd had a good day. If you gotten short at the opening of the market Thursday. You'd had a good day. I did say iffy. When the market opens gap down after a hard move up, it's a strong probability the day has inverted.
Spill up sealed at 9:51 AM. AM LOW late and strong 10:55 AM. MID AM HIGH at 11:10 AM early and weak. You seeing a pattern here? Lunch low at 12:30 PM. This is the best fit. You can draw a long term supply line from 10:43 AM to 11:10 AM. You can see how at 12:05 PM price gets a tad oversold and a bid enters in.
This is the Piliminary Support. Price rolls over for the next 20 minutes and gets extended. Guess what? This is the seal of the lunch low. Automatic Rally at 1:00 PM. Then the Secondary Test at 1:20 PM. This holds the top side of the supply line and emboldens the bulls to advance their forces. The Sign of Strength comes in at the mid pm high seal at 2:45 PM. And the LAST HOUR LOW 3:45 PM also seals the Last Point of Support.
For the next 15 minutes we see a weak rally which does not bode well for the bulls.
Heard in the chat:
IMPRO: tbohn007 :(9:12:47 AM) : I'm going to go out on a limb and say good chance we have an inside day…… 🙂
MPRO: Reverie :(12:40:15 PM) : The SEC is gonna be busier than a one-legged cowboy in a butt-kicking contest after this week.
I said this yesterday and guess what? IT HAPPENED TODAY:
[ All said and done yesterday; TRUMP CRIED UNCLE, UNCLE, UNCLE !!! Let' Peter Navaro will take the hit on this one. And I noticed that Kash Patel also took a hit. I'm reminded of a world war where one general wanted to keep going but they pulled him back… ]
IMPRO: Wyckoff Trader :(8:44:48 AM) : Good morning. Today is SERIES S3L IFFY. I would anticipate – After a hard showing by the bulls it may be the bears turn and play. Perhaps today.
IMPRO: Wyckoff Trader :(10:11:08 AM) : whack a mole day
IMPRO: Wyckoff Trader :(10:12:28 AM) : perhaps support at 11 handle
IMPRO: Wyckoff Trader :(10:25:35 AM) : potential seal of AM LOW; window still open
IMPRO: Wyckoff Trader :(12:27:36 PM) : he should not have cried uncle
IMPRO: Wyckoff Trader :(12:28:10 PM) : the market went up on vaper yesterday
IMPRO: Wyckoff Trader :(3:29:33 PM) : this is on soapy shower; bulls and the bears soap drop today
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S4L. I would anticipate – After a hard showing by the bulls it may be the bears turn and play. I'll double down again today.
1. Last Night: After a weak close, price just drifted down at started to challenge the LAST HOUR LOW. Then drifted up and challenged the high. Currently trading at the mid pm high.
2. Large Size: After the high some bearish boys and entered into the fray.
3. 7:00 AM / Premarket: Nothing really moving the needle this time.
4. News: PPI-Final Demand at 8:30, Consumer Sentiment at 10:00. All times EST.
5. Cycle Bias: I'm still leaning bullish, perhaps a little bit more downside action.
6. Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST LOW.
7. Previous Day's Numbers:
Open 5375.00
Hod 5389.00
Lod 5146.00
Settle 5319.00
Volume 2,480,000
8. Floor Trader Pivots
DAILY 5284.50
R2 5527.50
R1 5423.25
S1 5180.25
S2 5041.50
WEEK 5684.50
Range 243
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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