Issue 1,883 – Copyright, 2024, by Wyckoff AM Trader
May you live in interesting times…
Happy Independence Day! (third week after)
I've seen enough pundits try to put their spin on this. I get it. Drive factories back to America. My question might be what drove them away? Oh, I know that answer but does Elon? I don't think skill is a problem, but I do think will – might pose a big challenge. And that goes down the rabbit hole…
Looks like Cramer got the pay off. He's doggign the POTUS… That tells me CHINA is goign to give in! I'll say it again. He's KNIFES OUT on the POTUS. You can almost see the strings in the background. Playing like he's a friend to the common working man.
Ok side note: Perhaps they should start to regulate how Microsoft controls the tools you use every day. I woke up, found my browser had been updated for the umpteenth time. Only this time, they decided to flush my wallet with all the passwords. Then then told me they could import it but I don't' use the cloud. Mightily white of em!
DAILY:
How about that daily. We are now trading on the upper ranges. Knocking on that big even 5500 handle door.
YESTERDAY INTRADAY
[ Good morning. Today is SERIES S4H. I would anticipate – perhaps a little recover. Give the bulls an opportunity to give it a go. I'm doubling down. 1. Last Night: After the close price gaps up and trades 5424 handle. And now price is a 5448 handle. 2. Large Size: Full on bull parade with some larger size stepping up to the plate. 3. 7:00 AM / Premarket: Nothing really moving the needle. PEONS just over thier skies. 5. Cycle Bias: Bulls are on parade. Let's see how they sine. 6. Honing (turns): Spill down, AM HIGH, MID AM LOW, lunch high, mid pm low, LAST HIGH. ]
Yea that about dd it.
YESTERDAY RECAP:
Price opened up. What 100 handles up or more? Who got to play? Not us traders in the seat. It' was all algos at 9:38. Ranges of 47, 37, and 22 handle minutes. Volume of 22K, 24K, and 12K lots. I had other issues to deal with. Like getting into my browser. Login in my sites. After that drama was over. And the smoke cleared I went short the market at 10:50 marker at 5475.25.
Oh it was looking good. Real good but then (I maybe 10 points or so) 11:00 AM came. The algos were runing price so hard and so fast:
IMPRO: Wyckoff Trader :(10:02:28 AM) : no edge in this drama
IMPRO: Wyckoff Trader :(10:15:21 AM) : hank, has already up'ed his buy/sell levels; wow that a large spread
IMPRO: Wyckoff Trader :(11:12:17 AM) : let's see if the bears can take it home this time. Algos stole thier lunch at 11:00 AM
IMPRO: Wyckoff Trader :(11:12:44 AM) :So 5 handle range
IMPRO: Wyckoff Trader :(11:19:08 AM) : perhaps this time the bears can push through
IMPRO: Wyckoff Trader :(11:19:20 AM) : no Algos yet…
IMPRO: Wyckoff Trader :(11:24:30 AM) : a 144 tick chart is trading like a 5 minute chart
IMPRO: Wyckoff Trader :(11:30:12 AM) : bears got through. with a few nibs
IMPRO: Wyckoff Trader :(11:48:42 AM) : make a hole
IMPRO: Wyckoff Trader :(11:53:01 AM) : make a hole
I wanted to reverse the trade but I simply did not know where price was. I pulled up a 144 tick, it looked like a five minutes. Remember I said:
IMPRO: Wyckoff Trader :(10:01:58 AM) : They say they were following CASH but I dont' know. There are many inside jobs that are being exposed. We've become so accustomed to ALGO'S we don't even mind their presence. The models on the clothing fashion site and now almost all AI paint jobs. No life. No light in their eyes. Soon the humans will resonate.
IMPRO: Wyckoff Trader :(10:02:28 AM) : no edge in this drama
Ok I was short. They ate my lunch but I got short again. Globex took all the play out of the trade. Price was trading at R3. The thin white line. That's twice the range of the previous day. SO when Hank joined the fray and brought out his girls I was happy!
I made up the loss and gained some but this is not how to trade. Any moment I was expecting a 30 to 60 rip either way. This madness has got to stop!
There are many inside jobs being revealed… What concerns me is the no light and how the younger folks will start to emulate the no light cause that's the reality they see…
I held on. Once I realized the arrow of my ways? Got out when they puked at 5399 at 12:28 but I could NOT tell who was puking . Some SPY'er were holding the bid. I did trade the recovery rally. I reversed and went long held it till 5409.25 at 12:32 marker. Then went flat. I had had it and need to prepare for the long road home.
IMPRO: Wyckoff Trader :(8:55:07 AM) : I agree; PEONS just over thier skies.
IMPRO: Wyckoff Trader :(9:49:11 AM) : he's swimming in gators; and he knows it
IMPRO: Wyckoff Trader :(9:49:48 AM) : getting out Trumped just like before…
IMPRO: Wyckoff Trader :(9:58:49 AM) : Algos and traders in the seats; no top steppers
IMPRO: Wyckoff Trader :(12:09:20 PM) : make a hole
IMPRO: Wyckoff Trader :(12:09:45 PM) : you might get your chance @007
IMPRO: Wyckoff Trader :(12:11:41 PM) : oh yes; but I'm not instrument rated; I'd get all upside down…
IMPRO: Wyckoff Trader :(12:13:21 PM) : make a hole
IMPRO: Wyckoff Trader :(12:18:39 PM) : make a hole
The AM HIGH was center time at 10:30 AM (that's when and why I went short I was just a tad late). Bulls drop the soap as price trades down to 11:50 AM low (that when I should have gotten out but I held on a little longer waitng on the puke. Lunch high at center time 1:30 PM (I traded that first move off the lows). Then mid pm low at 2:30 PM. With the LAST HOUR HIGH at
As you can see when the trend is in WB's clock is your friend. Get long at the lows or short at the highs.
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S1L. I would anticipate – I'm seeing selling up here. Not a lot but some.
1. Last Night: A little dip below and the a little rise above. Price is currently trading just around unchanged.
2. Large Size: No large size to speak of.
3. 7:00 AM / Premarket: Nothing moving the needle as of yet.
4. News: Durable Goods Orders & Jobless Claims & Chicago Fed National Activity Index at 8:30, Existing Home Sales at 10:00, EIA Natural Gas Report at 10:30. All times EST.
5. Cycle Bias: Bulls are on parade. Let's see how they sine. (yesterday) They shined over Globex then dropped the soap with the CASH. I'm giving the bears a shot.
6. Honing (turns): Spill odds up, loupie loop, LAST ODDS LOW.
7. Previous Day's Numbers:
Open 5245.50
Hod 12:29 5339.25
Lod 09:31 5236.00
Settle 5314.25
Volume 1,287,961
8. Floor Trader Pivots
DAILY 5296.50
R2 5399.75
R1 5357.00
S1 5253.75
S2 5193.25
WEEK 5358.00
Range 103
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: May 12 Flower Moon 12:56 p.m. Summer Solstice (Equinox) June 20 1:41 p.m. (all times Est)
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