Issue 1,886 – Copyright, 2024, by Wyckoff AM Trader
2026/2027, 2033, and 2055. Let's see. I'm thinking we might be seeing a black pope once the smoke clears…
May you live in interesting times…
Happy Independence Day! (fourth week after)
We are back on top. At least from the previous two weeks.
DAILY:
After a few days at the high. It's starting to look like a shortening up the upward thrust. Perhaps the bulls can take it to the hole. Take price higher. Price is trading over the weekly pivot of 5411.75 handle.
One week left to go. Perhaps we can get to it.
YESTERDAY INTRADAY
[ Good morning. Today is SERIES S1L. I would anticipate – Perpahs we will pull back and test some of Fridays range. 5. Cycle Bias: I went to the bearish side due to the timid move taking out the previous two weeks highs. 6. Honing (turns): Spill odds up, loupie loop, LAST ODDS LOW. ]
YESTERDAY RECAP:
Let's call that odds spill up at 9:50 AM. The rest of the day is odds and probabilities. Still, we nailed it till 1:30 PM. Price retraced most of Friday's CASH range. Actually it went all the way down to S1 support. And the Spill up was R1 Resistance. If you draw a downtrend from spill up to 10:50 PM high. You can see price is drifting down.
It should not come as a surprise that price starts to see a bid come in around 12:00 PM. At least it's holding the lows. By 1:30 PM bears give it up and allow price to start to creep back up. I would not say they dropped the soap. They retraced all the whole range of Fridays' CASH. Price closed for the post part unchanged.
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S2H. I would anticipate – We got the lose Monday's and Friday's low bears have got their assignment.
1. Last Night: Price tried to challenge the CASH high twice and failed. Dipped down to about the halfway retracement and found a small bid.
2. Large Size: Some larger trader support came in around the 35 handle.
3. 7:00 AM / Premarket: Nothing moving the needle. Perhaps looking to test that 35 low.
4. News: International Trade in Goods (Advance) & Retail Inventories (Advance) & Wholesale Inventories (Advance) at 8:30, Case-Shiller Home Price Index & FHFA House Price Index at 9:00, Consumer Confidence at 10:00. All times EST.
5. Cycle Bias: I went to the bearish side due to the timid move taking out the previous two weeks highs. At 11:30 PM and 12:10 PM you can see price respect the oversold line by a quick touch and a snap back. Then at 1:30 PM price is unable to test the oversold like. That is indicating weakness on the bulls inability to gain a following at these lows.
6. Honing (turns): Spill down, AM HIGH, (NO MID AM), lunch low, mid pm high, LAST LOW.
7. Previous Day's Numbers:
Open 5557.00
Hod 09:48 5578.75
Lod 13:32 5492.00
Settle 5544.75
Volume 969,330
8. Floor Trader Pivots
DAILY 5538.50
R2 5625.25
R1 5585.00
S1 5498.25
S2 5451.75
WEEK 5411.75
Range 86
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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