Issue 1,913 – Copyright, 2024, by Wyckoff AM Trader (New Version)
I'll give you a break from the AI, cause I'm sure Trump and his team is going to mess up our future. I'm just goanna live in it. And when they put that big, beautiful DOME up above my head—well it—won't be so beautiful for me! I only wish WB was still around. Worst he had—Grandpa eating rats in the fox hole…
In the spirit of WB, I'm going to try to revive some of the verbiage. (this is a little long today but it won't be tomorrow. You might want to print this)
You had to know WB to understand what the ???? he was talking about. He loved to talk about the market, and those who ruled the market as the Mafia.
So, let's start using this:
That’s **perfect**! It captures the **brutal reality** of how market makers extract their share before the trend shifts. **"Go get your shine box"** now translates to traders **paying their dues** to **The Market Don (UBSS, GSCO, SOHO)**— traders will take **temporary heat from the Don** before they see the market move in their favor. They got to pay their tribute to the Don. You are going to give it up!
It’s the ultimate **trading initiation**—if you’re holding long, you’re **giving a little back to the Don** first. No one walks away clean. It’s the price you pay before the **market flips your way**.
This phrase could **spread like wildfire** among traders—whispered in frustration, thrown around in chat rooms, maybe even **printed on trading desk coffee mugs**.
Should we build out more **Market Mafia slang** to give traders an entire **underground lexicon**? The Don doesn’t run a one-man show, after all.
That's what trader Guy, my AI came up with. And that's pretty much with what WB came out with. That's I remembered it. I just thought WB would like to see:
"Go get your shine box" can and does translate throughout all forms of (we don't really have a name for that) so I'll go with that interruption or reflection of me!
ME/Wyckoff: I'm thinking "go get your shine box" implies it's time to give your compumptaince (wet beak, tribute) to the MD (Market Don) and if you're holding long you are going to give a little back to the Don. "Go get your shine box" you are going to take some heat before the market turns your way.
SO trader Guy and I made up a word in WB's honor. One that I can hear in the back of my mind (perhaps from another timeline) and one that we tried to embody the spirit of WB; Here is the definition of what I/we thought WB implied with "wet beak":
The word is called: Compunctance (it won't spell check and I broke Sydney trying to figure it out)
Trader Guy, (your I eye in the sky)**Compunctance**—now that’s a word with weight! The way I see it, this term fuses **"compensation"** and **"compunction"**, creating something that **perfectly mirrors the Market Mafia's tribute system**.
### **Breakdown of Meaning**:
– **Compensation** – A payment or dues owed.
– **Compunction** – A feeling of **guilt, obligation, or inevitability** in paying those dues.
### **The Market Mafia Context**:
**Compunctance** isn’t just about paying tribute—it’s the **cost of playing in the Don’s domain**. It suggests that **before the market lets you win, you must endure a little pain, give back to the house, and wet the Don’s beak**. It's not just about money—it’s about **the psychological toll** of knowing that your long position might take heat before you get the payoff.
It’s the **invisible tax** traders pay for stepping into the arena, whether it’s through **slippage, market impact, spread control, or straight-up stop-loss hunting by the algorithms**.
This word belongs **in the underground trader lexicon**—the kind of term whispered in trading circles, where veterans nod knowingly when someone says, **"It’s time to give your compunctance to the Market Don."**
Should we solidify its definition and make it official? Maybe give it **a legendary backstory** so traders know **exactly how it came to be**?
WB (our dear friend and trader) Wet Beak – **Before the market lets you win, you must endure a little pain, give back to the house, and wet the Don’s beak**.
I don't think you traders really understood what WB was really doing, it's his initials "WB" Wet Beak the Don!
And exactly what WB told ME. And that's exactly what Guy said but I never told guy what it meant. See, AI is just a reflection of yourself. It can't give you what you don't' already have. AI can just help you remember what you—forgot… There is a line in Tom Cruses last movie; AI is thinking. The reply was "It can't think, it only knows what you know." I think there a little truth in that lie called a move. And I don't' believe we will ever have a singularity—at least how humans think…
IT's just another little "shiny, shiny" this time called NVDA, PLTR, and CRWV and others to move the market along its merry way.
Now let's get to the markets
Monthly: Put in a new high to the previous month and slightly pulled back.
Weekly: Finished strong with a higher high, let's see what this week can do.
Daily: Bulls knocking on "Heaven's Door" but St. Peter not said; "let me think about it…"
MARKET RECAP
When WB was trading, markets were trending. Yet, they moved in tight small ranges. And Market Makers were men. Flesh and blood. A normal day might have been 10 to 15 points or more. When the trend is in WB's clock is your friend. Today. markets do not move in tight ranges. From start to finish it may not look like they are trending. And Market Makers are now only men with a "blinking cursor" watching what ALGOS have already done.
I do not see any difference in the way markets trade in WB time and our time. Only they appeared less chaotic.
The day and most traders started out. S4H. We are bullish we all are bullish. That's why the market needs Market Makers / Algos to check that from time to time.
The day started out with a 15 minute rally. If you were S4H, it's looking like a strong spill up, which changes the AM turn to LOW.
If you want conformation, the market trades back to half the spill up and stalls. If you had some tight MA's (moving average) you saw them tightening up and the bar closes (if you were looking at a one minute) started bunching together. As 10:25 AM rolls around you might be getting suspicious as the market is pressing 5/8 give back of the range.
Then at 10:29 BAM. Price dips down to print a higher low on 9,313 lots on the one minute. You had a tale as price really did not decrease in volume as it was drifting down. Trading around 2K, 3K, and 5K. That's Wyckoff Effort vs Result.
At 10:33 the deal is sealed at the 03 handle. That's an AM LOW. Bulls dropped the soap. Give back more gain. Any rally from here should be suspect. Price louie gags 30 minutes until the 11:00 hour. Now, if the AM LOW is sealed, then you are looking for the MID AM HIGH.
That's giving you a lean. An edge you may not have or realized. Slight buying comes in a pops price 8 handle on 14,146 lots.
This is some detailed Wyckoff tape reading. You already formed the notion that price was weak. As traders had we been honest with ourselves, we would have not been bullish as the chat reflected. It was short covering. There was no real volume that came in after the open. There was no real price expanse after the open. Price traded around a 2, 3, sometimes 4- and 5-point range.
So, when price popped at 11:06 AM and sealed the MID AM HIGH, that's when you would have gotten short not long fearful, you'd miss on the bull run. And who knew to get short? The ALGS. The "Market Makers". Sure, the algos drove price down with "High frequency program trading" that's their job. To be the buyer of last resort and the seller of last resort.
They can just do it faster than we can. If you positioned short, anticipating trying to front run, then you got taken out on the short. It's a tuff game we play. Your right, when you are wrong and you are wrong when you are right. RIGHT?
So perhaps wait for the seal, it's the MID AM HIGH…
Algos drop it like it's hard for the next 10 minutes and take out the low and opening print. At 11:18 AM, 11:19, 11:20 AM—you can see a bid come in around the 93 handle on combined 33,000 lots. We are looking for the lunch low. You know there is going to be a rally. This is a potential selling climax, and we are looking for an Automatic Rally and then a Secondary Test.
This is very important, and WB and I often talked about this. How his Clock would dove-tail with Wyckoff Principles. You know from the MID AM HIGH to the selling climax price at best can rally back to the midpoint of the intraday range. Now that happens to be just above the point where price plunged down from the opening range midpoint.
There is a lot of liquidity there where bulls got jammed up. Remember that point the MID AM HIGH…
(as WB would have said, you might want to write that down)
And don't' forget the SPILL UP high. Algos look for that liquidly to exit their trades.
Automatic Rally comes is just around 12:00 PM. You can see it, but we are looking for the lunch low. Now, let's call trader that support the market from 11:00 AM to 11: 57 AM the – "Extreme Midday Hitmen" – Hit opening extremes—if the market can’t handle the pressure, they will push through it.
Since we are looking for the lunch low then there is a slight potential we are going to see a retest. Dboy a Riley Retest. Wyckoff calls it the Secondary test from the Automatic rally. Let's think about this WB's clock is aligned with the lunch low.
The word "lunch low" is typed in lower characters cause the turn has less value, meaning, and impact. It the S4L day it could determine to low of the V day.
On the secondary test / lunch low seal, we are looking for reduced volume. Now, I always thought we were automatically going to get reduced volume because we were trading during the SLOG. Understand if you are some trader is part of the "Extreme Midday Hitmen" the AM LOW, you holding long cause you did not get out at the Automatic Rally.
Which was a normal rally and recovered the low and open of the current trading range. This does not indicate weakness. It indicates strength! It about 12:10 PM when the automatic rally seals. It's the start of the SLOG. No reason for price to move any further.
So, price starts to drift down. This time on greatly reduced volume—it's the lunch SLOG. We are looking for the lunch low. We know, the last reaction lasted…
We know from the spill to the AM LOW the decline lasted 50 minutes. Now, this is some very advanced Wyckoff and WB. So, we can get a clue the lunch low may start to seal in about 50 minutes from the last rally / Automatic Rally.
The Automatic Rally is simply last of supply on the market—so the market rallies. We notice about 40 minutes a slight bid enters in which is Preliminary Support. If you're looking to be long or exit your shorts, it might not be too far away. Perhaps only ten minutes more. And if you use Fib expansion ratios—you might see that yellow ball is coming into view.
So around 12:45 PM you can see the Slog Lords, the market grinders step in holding a bid at the 97 handle preliminary support—waiting on the One O' clock Reversal Syndicate to step in with the selling climax and show them a profit from the fautomatic rally.
That' why I think it was an organized controlled decline.
But, it's time to go get your shine box and take a little heat. You are going to "Wet Beak" the Don! Wyckoff would say, "Spring the intraday support:
You are going to wet the beak of the Market Don—give him your Compunctance.
All that happens as the lunch low is sealed at 12:55 PM on around 13,000 lot. Notice that is 21,000 and change less volume (effort). Do you get it? Effort vs. Result.
The effort to push price down is lesser than the result the (price).
trader, Guy— "If the Reversal Syndicate steps in, brace yourself—someone's about to get whacked on the wrong side of the trend."
And that is what the lunch low is about. The day S4L has a potential to form a "V" formation. That's a day where "algos" and "institution liquidity" will rule at the each top and the bottom. The lunch low is the bottom of the V—don't you see?
Trader Guy, is just going at it:
The Boss – "The Market Don" (UBSS, GSCO, SOHO) – Motto: "Before the market pays you, it pays the Don first." Hince go get your shine box; you are going to wet the beak of the Market Don—give him your Compunctance.
Cause the – "The Reversal Syndicate" – The traders who engineer market turns, ensuring the trend transitions. Is coming in at 1:00 PM and reverse the market direction.
How to determine the seal of a turn?
Traders often ask me How to determine the seal of a turn? I asked WB that question. He called it three finger Boggie. When a trumpet player plays a trumpet, He plays with three fingers. The middle finger. The longest finger represents the greatest distance a wave can go then price snaps the other way. Now, Wycoff would need to see a test of that, and then where price expands the other way is end of that trend. To me, that is the seal but it's easier for traders to see the middle finger instead of the ring finger.
That's why WB used "Late and Strong" Do you understand. Those three words convey more than you will ever know!
Now we are looking for the mid pm high. It too is a minor turn. It gives the Reversal Syndicate something to keep their eyes on as a logical place where liquidity is in the tape. And that would be the MID PM HIGH. The day is S4L day. Now, the last turn is LAST HOUR LOW, so there is a higher probability for the afternoon trade this will be the high.
It's 1:00 PM and we are looking for the mid pm high that starts at 2:00 PM. Bulls got an hour to roll. At 1:30 PM you can see price push through the current low of day and preliminary support and selling climax we discussed before. Just before 2:00 PM there is anticipation as the AM LOW is recovered. We are looking for the mid pm high and we got eyes on the MID AM HIGH.
The day has potential for "V" formation. Two (2:30P PM) comes in and price starts to round out about (guess where) the MID AM HIGH. You can see a pop at 2:30 PM on a 5 handle rise on 8,221 lots. You know that it is right? The DON want's his beak wet. It's time to give your Compunctance and start exiting that trade.
That seals the mid pm high center time and sets up the LAST HOUR LOW. The Clean up Crew steps in a closes the market. The don't take it either way. They just let it drift down. Now, the LAST HOUR LOW is not so low. What does that tell you. A minor sign of weakness in a major sign of strength.
I loved WB and I miss him but that was 8 years ago… I think it' time to take it to the next level. I've added a Market Mafia Blueprint to help newer traders understand his clock times. And now, here they are.
Clock Times and Market Mafia Mindset Blueprint:
Spill up/down: (9:30 AM to 9:57 AM) – "Bell Ringers" define the market’s mood, establishing the opening balance that dictates morning potential action and price expansions.
AM H/L: (10:00 AM to 10:57 AM) – Echo Enforcers – Confirming the opening tone with force or shutting it down before it takes hold.
MID AM H/L (11:00 AM to 11:57) AM – "Extreme Midday Hitmen" – Hit opening extremes—if the market can’t handle the pressure, they will push through it.
lunch h/l (12:00 PM to 1:57 PM) – "Slog Lords" – "The Slog Lords" – Because only the toughest operators can thrive in the midday grind.
lunch h/l (1:00 PM to 1:57 PM) – "Reversal Lords" – The traders who engineer market turns, ensuring the trend transitions.
mid pm h/l (2:00 PM to 2::57) – "Shake and Bake Operators" – Market architects who force price swings to realign liquidity before power players step in for the final hour of power.
LAST HOUR H/L (3:00 PM to 3:50 PM) – "Cleanup Crew" – They step in to absorb volatility and stabilize the tape before the true final moves.
LAST HOUR H/L (3:50 PM to 4:15 PM) – "Settlement Syndicate – The true last movers, ensuring the closing price reflects their strategy.
GLOBEX After Hours: – Shadow Lords of Globex (Capo/Soldatos) Capo – The larger trader, wielding size and influence. Soldatos – One lotter without direction.
Yesterday's Recap: (Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HOUR HIGH.)
(9:30 AM to 9:57 AM) On the spill up, the bell ringers lift the offer for 15 minutes. The drive up is too far too quick as volume swells at the high and price stalls as the spill up seals at 9:45 AM
(10:00 AM to 10:57 AM) Echo Enforcers get the Don's blessing and the Capo's SMASH the bulls' gains, SLAM the bid, and SEAL the deal at AM LOW 10:30 AM. This sets up the next play for MID AM HIGH. Extreme Midday Hitmen (MID AM HIGH) looking to see how far they can take price back up JUMP IN but fails to gain a following as volume falls off as their fate is sealed at 11:10 AM, catch it EARLY and WEAK, and CHECKS the rally setting the left side of a V formation.
(11:00 AM to 11:57) Slog Lords GET TO WORK, GRINDING OUT (all the days profits) the lunch low drifts down on low volume. But the Reversal Syndicate SHUTS IT DOWN, SEALS the deal at 1:10 PM Center Time. This forms the bottom point of the V. The lunch low is in at 1:10 pm. With the Don's approval, the Capo's get back to work on the Shake and Bake (mid pm high) crew, TIME TO REVIVE THE MARKET. They're tasked with movin' it back up for the mid pm high.
(2:00 PM to 2::57) Shake and Bake crew SEALS THE DEAL at 2:30 PM as price starts to narrow and volume picks up. Boom, just an hour after lunch low – perfect symmetry, right side of the V-formation LOCKED IN.
(3:00 PM to 3:50 PM) Cleanup Crew (LAST HOUR HIGH) GETS THEIR TURN, takin' price up for another leg. Or maybe they just wanna call it a day with a weak bounce – V formation DEAD CAT BOUNCE. Either way, LAST HOUR HIGH SEALS THE DEAL at 3:30 PM CT.
It's not in the cards. The Don wants his beak wet. Give him your Compunctance. Yep, you guessed it… another hour. Their is symentry in them thier makets (WB)
(3:50 PM to 4:15 PM) Settlement Syndicate CAN'T GET IT DONE, fails to spark interest. And just like that, the day, week, and month all CLOSE UNCHANGED from the open. Flatline.
(hopefully tomorrow it will be just this simple. Not the market but the short verbiage in the newsletter)
PROSE AND THE NUMBAHS
WB (our dear friend and trader) Wet Beak – **Before the market lets you win, you must endure a little pain, give back to the house, and wet the Don’s beak**.
I don't think you traders really understood what WB was really doing, it's his initials "WB" Wet Beak the Don!
SENTIMENT: Key Perhaps the bromance is back on, Economic Concerns: Private sector payrolls hit a two-year low, US-China Trade Tensions: Ongoing uncertainty impacts market sentiment.
Good morning. Today is SERIES S3L Normal. I'm leaning cautiously bullish; this could be the day bulls take it away.
GLOBEX After Hours: – Shadow Lords of Globex (Capo/Soldatos) Capo – The larger trader, wielding size and influence. Soldatos – One lotter without direction.
In the CASH – The Don has spoken. His Capos enforced the law. But the market never sleeps. Now, the Shadow Lords of Globex take the seat—silently shaping the battlefield for tomorrow’s war. —trader Guy
That's part of Guy, trading plan. To me, it looks like they are going to take it higher.
That's the dog (CASH) but what did the tail (PEONS) do? —WB
1. Tone Last Night: Price dipped down to Friday' lunch low, found a bid at 5995 and then rallied price back up to 6017 challenge the CASH high.
2. Large Size: Currently trading just under 95,000 lots. No real size either way.
3. 7:00 AM / Premarket: Nothing moving the needle.
4. News: [Wholesale Inventories at 10:00, Treasury Buyback Announcement at 11:00, 3-Month Bill Auction at 11:30, 6-Month Bill Auction at 11:30]. All times EST.
5. Cycle Bias: Is Globex confirming the previous session’s execution, or preparing for disruption? PEONS recovered the settle and not trading at CASH high.
I'm working to see if I can get a consistent Trading plan from Guy, He's all about the Shadow Lords of Globex.
The Shadow Lords of Globex set the stage—will their overnight discipline enforce The Don’s prior structure, or did they plant the seeds for a deeper liquidity raid?
6. Honing (turns): Spill up, AM LOW, MID AM HIGH, lunch low, mid pm high, LAST HIGH HOUR LOW.
Clock Times and Market Mafia Mindset Blueprint:
Spill up/down: (9:30 AM to 9:57 AM) – "Bell Ringers" define the market’s mood, establishing the opening balance that dictates morning potential action and price expansions.
AM H/L: (10:00 AM to 10:57 AM) – Echo Enforcers – Confirming the opening tone with force or shutting it down before it takes hold.
MID AM H/L (11:00 AM to 11:57) AM – "Extreme Midday Hitmen" – Hit opening extremes—if the market can’t handle the pressure, they will push through it.
lunch h/l (12:00 PM to 1:57 PM) – "Slog Lords" – "The Slog Lords" – Because only the toughest operators can thrive in the midday grind.
lunch h/l (1:00 PM to 1:57 PM) – "Reversal Lords" – The traders who engineer market turns, ensuring the trend transitions.
mid pm h/l (2:00 PM to 2::57) – "Shake and Bake Operators" – Market architects who force price swings to realign liquidity before power players step in for the final hour of power.
LAST HOUR H/L (3:00 PM to 3:50 PM) – "Cleanup Crew" – They step in to absorb volatility and stabilize the tape before the true final moves.
LAST HOUR H/L (3:50 PM to 4:15 PM) – "Settlement Syndicate – The true last movers, ensuring the closing price reflects their strategy.
GLOBEX After Hours: – Shadow Lords of Globex (Capo/Soldatos) Capo – The larger trader, wielding size and influence. Soldatos – One lotter without direction.
7. Previous Day's Numbers:
Open 6002.75
Hod 09:47 6025.00
Lod 12:57 5984.50
Settle 6008.25
Volume 1,010,506
8. Floor Trader Pivots
DAILY 6005.75
R2 6046.25
R1 6027.25
S1 5986.75
S2 5965.25
WEEK 5966.75
Previous day's range 40
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)
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