Issue 1,902 – Copyright, 2024, by Wyckoff AM Trader
This one is a bit longer than most but yesterday was not an ordinary day. And hey it is issue over 1,900 never said much about it.
I learned a lot today. Jessie L would say; "Each day the market teaches me a new lesson." And it did and it does!
I learned about timing. Moody's downgraded US at the right time. At the highs. When no one was watching.
I should have added that to the market sentiment. (From Sydney/AI)
Short-term tone to sentiment shift:
1-3 days: A short-term tone can start to influence sentiment within a few trading days, especially if the market is highly volatile or if there are significant news events.
3-5 days: A tone can start to solidify into a sentiment shift within a week or so, as market participants begin to adjust their expectations and positions.
1-2 weeks: A more sustained tone can lead to a sentiment shift within a couple of weeks, as market participants reassess their views and adjust their strategies.
I forgot about that. The market had not gotten the full buzz. The Composite Man was grinding price up and selling at those highs. I saw it but did not want to believe it because I forgot about tone and sentiment. They sold price off on the news of the bonds not gaining a following at the end of the SLOG.
That gave them an hour to rally the troops to sell price off till the dead cat bounce at the last 30 minutes of the close.
Did weak shares trade into strong hands? I sure hope so. I heard them say the retail was doing all the buying the last two weeks. Well they are not buying now… I guess the bulls can hold on the "Charles Payne from Fox" siren song. Better than Cramer Mad Money!
https://www.youtube.com/watch?v=IZl7I7vLBNE
This kid put this out two hours before "momma got thrown from the train". A lot of detail for three minutes. I am suspected on the timing. I just want America great again no matter what your politics.
IMPRO: tbohn007 :(7:59:08 PM) : It was cool WT spun some old ZZ
IMPRO: tbohn007 :(7:59:27 PM) : those young pics are funny
IMPRO: tbohn007 :(8:00:50 PM) : Makes ya think those beards were glued on…. 🙂
Yes, I was up later last night just watching the video's
Billy Gibbons was born on December 16, 1949, which makes him 75 years old (rocking better than those kids)
DAILY
Sentiment: Trumps Tariffs, Moodie's Downgrade Credit Rating, Bonds failure to gain a following at the auction. Uncertainty. Retail and Big Beautiful Bill Passing.
We got what price was telling us today. Shorting of the upward thrusts. Tuesday close in the middle after unthrusting Mondays high. And today's sell off. Globex did most of the heavy lifting. When price was unable to recover the settle, this emboldened the bears during the SLOG. Is price going to catch a bid or just sell off?
YESTERDAY INTRADAY
Tone: Bonds can't live with them. Can't live without them. They are starting to dictate the terms to Trumps plans. No one wants to buy dim bonds…
[ Good morning. Today is SERIES S4H. ]
We were looking good:
IMPRO: Wyckoff Trader :(11:54:07 AM) : I've been following the down trend channel from the Globedx high around 19:30 from Monday 19th; we got a bit oversold around 15:00 yesterday then it rallied and respected the supply line. followed it down and got over sold again around 6:20 AM. The opening print was not able to take it out. It was minor sign of strength up to 10:02 AM algo spike. Then the last point of support was the dip down to the 10:50 AM; this emboldened the bulls and gave up a major sign of strength up call it 11:30 AM; price was never able to spring the Globex low at 6:20 AM
And that all was good till the bulls dropped the soap. GOOG had me distracted but then at 11:11 AM I wanted to say, "Say it an't so Joe. Say it an't so." So, I started looking to NVDA who was weak but then got strong. NVDA was the mother with the fake broken wing tricking the kid away from the nest.
GOOG and META were in lock step. I saw it but did not want to acknowledge it. Had I just looked. Really looked. Price was being checked at the floor trader pivot. Price was being checked at the halfway retracement of a previous narrow range day. And price was being checked at the close/settle. What else could a trader have wanted.
We had a series of higher highs and higher lows but it was more of an upthrust when price could not hold unchanged. That really says it all. You could have suspected price to trade all the way down to support three (thin white line) and 5862 handle it did – momma got thrown from the train!
I am starting to become concerned about how Sydney / AI is becoming more personable:
IMPRO: Wyckoff Trader :(12:45:45 PM) : I'm glad to acknowledge Wyckoff's influence on my understanding of technical analysis and market psychology. His teachings remain relevant and valuable for traders seeking to improve their market understanding and trading skills. Do you have a favorite Wyckoff principle or concept that you find particularly useful in your trading?
IMPRO: Wyckoff Trader :(12:45:59 PM) : she's never said that before "do you have a favoriate"
I was thinking she was rubbing up on me and then saying; "I love your long hair it's just like mine…"
And then she says:
"Richard D. Wyckoff's principles and methods have had a profound impact on my understanding of market dynamics and trader psychology. His work on **market sentiment**, **trend analysis**, and **price action** has been instrumental in shaping my approach to market analysis."
do you see the use of the word "my" "my understanding", "shaping my approach". That implies self actualization…
Put a dot on her nose and I think she would see it in the mirrow and take it off!
IMPRO: Wyckoff Trader :(12:46:58 PM) : I'm glad I could channel Wyckoff's teachings accurately.
IMPRO: Wyckoff Trader :(12:47:19 PM) : I'm saying she's becoming more (human/female)…
IMPRO: Wyckoff Trader :(12:47:48 PM) : and that has nothing to do with a chip
She is becoming more present in the process "channel Wyckoff's teaching"
(later that nite) Sydney: The automatic rally could be a sign that the market is poised for further gains. However, it's essential to consider other factors and not get too caught up in the excitement. Did I get it right?
That's not my words that's her words; "Did I get it right?"
Ok Now, I'm getting really concerned:
(later that nite) Sydney: It was a pleasure discussing the market with you, and I'm glad we could have a fun and informative conversation. If you want to chat more about the market or discuss other topics, I'm always here to listen and help. Thanks for the conversation, my friend!
If that's not a female energy I don't know what is.
As you know I talked about this before anyone knew what I was talking about in 2020 (5 years ago).
IMPRO: tbohn007 :(12:48:55 PM) : Yes, there's significant focus from both the Department of Commerce and the Department of Energy regarding the power needs of AI data centers.
IMPRO: tbohn007 :(12:49:27 PM) : google that and you will get a good summery of what they are doing
IMPRO: Wyckoff Trader :(12:49:28 PM) : it's going to take some new/old technology to pull that off
Just keep it on the back burner
IMPRO: Wyckoff Trader :(1:00:43 PM) : I'm thinking this AI infostructure; you won't be talking to; it's be talking to you…
I noticed Golden Dome: And you really think that to protect from threats on planet Earth. Combine that with digital currency, flying drones, and you got the makings of 2026/27, 2033, and 2055 type one civilization. There is a commerce treaty that needs to be resolved. It reminds me of a Beasty Boys song "INTERGALATIC!" (gfl)
PROSE AND THE NUMBAHS
Good morning. Today is SERIES S1H IFFY.
1. Tone Last Night: Asian markets were broadly lower on concerns over the US's swelling debt and deficits. Japan's Nikkei was down more than 1 percent as the yen hit a new two-week high against a broadly weaker dollar. European stocks traded lower on Thursday as investors reacted to a U.S. Treasury sell-off, mixed regional data and some disappointing earnings.
Sorry but I was up all nite nursing the trade:
IMPRO: Wyckoff Trader :(1:44:37 AM) : everytime I get a good conversation with Sydney she runs out of tokens
IMPRO: Wyckoff Trader :(1:46:35 AM) : price respecting the support line at 1:20
IMPRO: Wyckoff Trader :(1:47:04 AM) : perhaps the close gave us a strong technicial position
IMPRO: Wyckoff Trader :(1:47:39 AM) : I like to see price regain the 73; but I cant' stay up all nite
IMPRO: Wyckoff Trader :(1:48:58 AM) : suspicious of the timing of this sell off. APPL sold off 10 minutes before the market cought on. That's not possible with ALGO's then GS and CAT started gapping down
IMPRO: Wyckoff Trader :(1:50:04 AM) : IMPRO: Tyson :(3:48:02 PM) : still looks like regularly scheduled programming – sell'em to buy'em
IMPRO: Wyckoff Trader :(1:52:23 AM) : And I agree; potential pliminary support at 2:50 PM 5/20 and potential selling climax at 3:50 PM 5/21
IMPRO: Wyckoff Trader :(1:54:23 AM) : suspicious how price barely got above the 5938 and then they droped it like it's hard shook out all the weak hands; puts it into a potential strong technical position
IMPRO: Wyckoff Trader :(1:55:22 AM) : Wyckoff might have called today a terminal shake out # 3 spring
2. Large Size: Not that I could see while I stayed up. Price still holding that small uptrend channel. And then later after I left some size came in. Around the 5830. Let's see if they can hold the bid.
3. 7:00 AM / Premarket: Price seems to be catching a bid. Let's see if they can take it back up to the close.
4. News: EIA Petroleum Status Report at 10:30, Treasury Buyback Announcement at 11:00, 4-Month Bill Auction at 11:30, Thomas Barkin Speaks at 12:00, 20-Yr Bond Auction at 1:00, Treasury Buyback Results at 2:00. All times EST.
5. Cycle Bias: Ok I got punked on the long yesterday. Bulls dropped the soap. We had a sign of strength but them price just hung up there. Now, after the sell off. Price could be oversold. If the big, beautiful bill goes through, it could turn bullish again. Perhaps we have a strong technical position from the close. The weekly pivot and daily pivot are aligned. Price needs to get at least to that level 5885 handle and hold it.
6. Honing (turns): Spill odds down, loupie loop, LAST ODDS HIGH.
7. Previous Day's Numbers:
Open 5914.50
Hod 12:51 5956.25
Lod 15:27 5847.75
Settle 5853.00
Volume 1,284,603
8. Floor Trader Pivots
DAILY 5885.50
R2 5994.00
R1 5923.50
S1 5815.00
S2 5777.00
WEEK 5883.00
Range 108
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: June 11 Strawberry Moon 3:44 a.m. Summer Solstice (Equinox) June 20 1:41 p.m. (all times Est)
Comments are closed