Issue 1,929 – Copyright, 2025, by Wyckoff AM Trader (New Version)
FROM THE DESK OF WYCKOFF TRADER (Read the Terminology at the bottom if you need clarification on WB-isms)
– 🐂 The Bull – Represents structural resilience, bid stacking, and market strength. If liquidity holds, the bull carries the weight
– 🐻 The Bear – Symbolizes liquidity exhaustion, price vulnerability, and market weakness. If bids vanish, the bear drags the market down.
– 👻 “GHOST – If the market doesn't have breath, it will fall due to the
lack of structure under the pressure of constant changing of belief.” – Wyckoff Trader
There really was not a whole lot to say about yesterday. Price is pressing all time highs. We are trading on a reduced three and half day week. Peons took it above over their skies. The 33-handle held until they swept it down to the 24 and then price popped right back. And then within five minutes it never happened. Price ended suspect at Price is walked back up to tag a new high of day. And then the last 30 minutes it get's a little whippy.
Wyckoff Trader
P.S.
Now let's get to the markets
Big picture perspective
⚔️ Big Beautiful Bill in cross hairs, 🏆 Gold Prices Drop After Ceasefire, 🛢️ Oil Prices Fall Amid Uncertain Ceasefire,
– Monthly: Got a great start off for the first of the month.
– Weekly: Looks like last years highs are going to be in the rear view.
– Daily: Six strong day a pressing for the highs.
MARKET RECAP
🕒 SERIES S4H 🕒 Inverted at end of day.
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| TURN | H/L | SEAL | BIAS | HNDLE | VOL | DELTA | MIN |
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| Spill | down | 9:50 | late | 6235 | 11,000 | (~00) 20m |
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| AM | HIGH | 10:30 | center | 6242 | 2,400 | (~07) 40m |
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| MID AM | LOW | 11:20 | center | 6232 | 7,500 | (~10) 50m |
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| lunch | high | 12:45 | center | 6245 | 16,000 | (~13) 85m |
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| mid pm | low | 2:45 | center | 6227 | 13,000 | (~18)120m |
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| LAST HOUR | HIGH | 3:55 | late | 6265 | 36,000 | (~38) 70m |
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PROSE AND THE NUMBAHS
Good morning. Today is SERIES S1L. I'm leaning bullish with all-time highs fever. Could see some pull back.
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🌍 After Hours Globex: – That's the dog (CASH) but what did the tail (PEONS) do? —WB
1. Tone Last Night: (Liquidity)
🦘🐂 Auzie's Dipped price down to 42 and found a bid. Bid price up to 6253 and handed to bid to the Asians.
🏮 🐂 Held the bid. Bid price up to the 6257 handle and pressing. And then it started drifting. By 2:00 am price is trading 41 handle.
🏛️ 🐂 Hold the bid at 41 and than as the 7:00 am starts to drop it down to 27 handle
2. Large Size: 🦘🐟 (no tuna), 🏮🐟 (no tuna), 🏛️🐟 (1 tunas) holding the 6247
3. 7:00 AM / Premarket: 💲 (6 tunas) holding the 6230 Finds a slight bid at the 27 probing the CASH low and holds.
4. News: – 📰 (Jerome Powell Speaks at 9:30, PMI Manufacturing Final at 9:45, ISM Manufacturing Index & Construction Spending & JOLTS at 10:00. All time EST)
5. Cycle Bias: 🏛️ 🐂 💲 Looking good, Louis! Looking good! All time high fever but I saw a lot of supply hit the tape at the close 111,000 lots. And now trading under the daily pivot. Need to return to pivot of 6245 handle for bulls.
6. Honing (turns): Spill odds up, loupie loopm LAST HOUR ODDS LOW.
7. Previous Day's Numbers:
┌──────────────────────────── Session Summary ───────────────────────────┐
│ Weekly High 6239.00 Weekly Low 5959.00 │
│ Weekly Settle 6220.75 Final Settle 6246.25 (+44.00) │
│ Open 6248.25 Candle Body -02.00 Bullish │
│ High (03:55) 6265.50 Upper Wick 17.00 │
│ Low (01:58) 6224.25 Lower Wick 22.00 │
│ Session Range 41.25 Midpoint 6244.50 │
│ Volume 1,075,902 contracts Avg Range 61 pts │
└────────────────────────────────────────────────────────────────────────┘
8. Floor Trader Pivots:
🧱 Zones of Control Weekly Pivot (6240.00)
[🔺 Bull Zone]
R2 (6286.50)
R1 (6266.25)
[⚖️ Decision Zone]
Pivot (6245.25)
[🔻 Bear Zone]
S1 (6225.00)
S2 (6204.50)
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: 📅 July 10 Strawberry Moon Buck Moon p.m. Fall Solstice (Equinox) 📅 September 22 2:19 p.m. (all times Est)
********************* Terminology *********************
"Looking good, Louis! Looking good!" – Bullish (high confidence)
"Looking good, but…" – Neutral (cautious optimism)
"Things just got ugly, Louis. Very ugly." (Black Swan)
"It's looking real bad for the bulls, Louis. Real bad." – Bearish (pessimistic)
"It's looking real bad for the bears, Louis. Real bad." – Bullish (optimistic)
🐟 (Minnows)
⏳ Lifespan: 1–2 years
💧 Liquidity Impact: Momentary—tiny, rapid entries and exits
🔄 Interpretation: Their short biological life mirrors *fleeting market presence*. They appear as *blips* on the liquidity radar—numerous but not lasting.
🐟 (Sardines)
⏳ Lifespan: 3–4 years
💧 Liquidity Impact: Mid-range, directional waves
🔄 Interpretation: Like their lifespan, they sustain presence a bit longer—*waves of flow* with follow-through. Not permanent, but *tactically significant*.
🐟 (Tuna)
⏳ Lifespan: 15–40 years
💧 Liquidity Impact: Deep, anchoring, strategic
🔄 Interpretation: Their long biological endurance maps to *long-dwelling liquidity*. When they enter, they sit, influence, and stabilize. They're duration-defined presences**, just like their species.
🧖 "Dropping the Soap"
🏀 "Running with the ball"
👵 "momma got thrown from the train!"
📈 Up Turn – Higher highs and higher lows.
📉 Down Turn – Lower highs and lower lows.
↔️ Chop Turn – Bulls and Bears equally balanced.
💥 dropped it like it was hard (no bid stacking, no liquidity, hitting the bid)
🏀↓ smack it down or 🏀↑ bid it up (indicates a potential change in trend)
🧽 adding liquidity back into the market
SERIES Day (all times EST New York City)
🕒 Spill (9:30 to 9:57)
🕒 AM (10:00 to 10:57)
🕒 MID AM (11:00 to 11:57)
🕒 lunch (12:00 to 1:57)
🕒 mid pm (1:00 to 2:00)
🕒 LAST HOUR (3:00 to 3:57)
✔️ — The day begins with confidence: breakout, momentum, the illusion of strength
📈 — The first leg surges upward—buyers pile in, the pattern forms
↘️ — The reversal: volume fades, conviction cracks, the second leg collapses
💔 — The emotional aftermath—hope turned trap, a bull’s grin turned grimace
∨ – V formation
********************* Temporal Risk (Last Hour Transition) *********************
🌍 Globex Market Liquidity 🌍
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| 🌏 Region | ⏳ Open | 🚪 Close | 🔄 Overlap Start |
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| 🦘 Aussies | 🕕 18:00 | 🌙 4:00 | 🔄 20:00 (Asians) |
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| 🏮 Asians | 🕗 20:00 | 🌅 6:00 | 🔄 3:00 (PEONS) |
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| 🏛️ PEONS | 🕒 3:00 | ☀️ 11:30 | 🔄 3:00 (Asians) |
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This table enhances **clarity and structure**, using **Unicode symbols** to highlight market activity across time zones.
Let me know if you need further refinements.
**Hello World—how you doing**
(Weak Cash Close) 🦘🦅 The Kangaroo Absorbs risk from the 🦅 Wounded Eagle (Weak Cash Close), sometimes catching the knife, sometimes carrying momentum forward.
(Unchanged Cash Close) 🦘🐢 The Kangaroo Inherits liquidity from the 🐢 Tortoise (Unchanged Cash Close), the Kangaroo steps into the market with momentum and uncertainty. It may catch the knife, absorbing risk, or carry liquidity forward, reinforcing structure into the next phase.
(Strong Bull Close) 🦘🐂 The Kangaroo receives liquidity from the 🐂 Bull (Strong Close), the Aussies 🦘 step into a market with reinforced bids and momentum. The transition is controlled if liquidity holds, allowing the bull to carry strength forward. If depth weakens, the bull faces resistance, but structural integrity remains intact.
(Strong Bear Close) 🦘🐻 The Kangaroo receives liquidity from the 🐻 Bear (Strong Close), the Aussies 🦘 absorb sell-side pressure, stepping into a market where bids have vanished. The transition is controlled if liquidity stabilizes, but if depth is thin, the bear drags the market down, exposing structural gaps.
The glyphs were chosen based on cultural and symbolic associations.
– 🦘 Aussies: The kangaroo—because it’s an iconic symbol of Australia, representing agility, resilience, and movement.
– 🏮 Asians: The lantern represents tradition, prosperity, and illumination, often seen in Asian festivals and markets.
– 🏛️ PEONS: The classical building symbolizes institutional strength, structure, and historical significance, aligning with the market’s role in global finance.
– 🦅 The Wounded Eagle (Weak Close). It embodies a market that was once strong, but now struggling to defend its position, leaving the Aussie's exposed to risk at the 18:00 open.
– 🐢 Tortoise (Unchanged Close) methodical liquidity flow, carrying the weight of structure into the 18:00 open.
– 🐂 Bull (Strong Close) structural resilience, bid stacking, and market strength. If liquidity holds, the bull carries the weight into the next session.
– 🐻 Bear (Strong Close) liquidity exhaustion, price vulnerability, and market weakness. If bids vanish, the bear drags the market down, exposing structural gaps.
********************* 🏦 The Game *********************
Structure exists on both sides, but time is momentum, waiting for the next liquidity event to dictate direction.
– 🐂 Bull Structure – If bids stack and liquidity reinforce, the spine holds, and the market transitions with strength.
– 🐻 Bear Structure – If offers dominate and liquidity weakens, the foundation cracks, and the market shifts into a sell-side imbalance.
**Structure Defines Strength – Market Sentiment in Bulls & Bears**
1. **Markets don’t collapse because of selling—they collapse because of structural weakness.**
– The bid lacks stacking. The order book becomes fragmented. There’s no integrity in the foundation.
– Algorithms **raid the weakness**—not because they create it, but because it already exists.
2. **A bull market is only as strong as its scaffolding.**
– If the bids stack, if the support holds, if the market **builds from real demand**, the structure remains intact.
– When hope enters—over-leverage, thin liquidity, misplaced belief—the bull **loses its shape**, and the integrity fades.
3. **Professionals don’t fall for their own hype.**
– Amateurs chase sentiment blindly. They believe their own excitement.
– Professionals know when **belief becomes baggage**, when confidence turns into distortion.
– The true expert **cuts the noise** and stays in alignment with structure—not emotional attachment.
The **bear** doesn’t kill the bull—the bull **collapses under its own hype**.
The market doesn’t fall because sellers push—it falls because there’s nothing **left to hold the bid**.
It isn’t about price—it’s about truth, structure, liquidity and time.
🦘 The Kangaroo (Beast of Burden) carries the weight of liquidity, balancing the market’s fate as it approaches the 18:00 open. Will it reinforce structure, or will the market collapse under its own weight? The first two hours (18:00–20:00) will reveal whether this transition is controlled and strategic, or a violent liquidity sweep that reshapes the session.
✋ Quick Hand Signal Glossary
– Palm up: Buyer aggression
– Palm down: Seller control
– Rotating fists: Two-way auction
– Walking fingers upward: Ladder behavior
– Slice downward hand: Fast price drop / sweep
– Two fists, pop outward: Spike bar / breakout
– Tap watch wrist: Time spent = value confirmed
Knowing where you are in price behavior tells you whether to observe, prepare, or act. Without five phase awareness, you’re not trading structure—you’re reacting to noise. Wycoff insights into Composite Mans's behavior, accumulation/distribution cycles, and phase-based market psychology are tooted in the phases of price behavior. Without phase awareness, you're not aligned with breath—you’re chasing ghosts.
“GHOST – If the market doesn't have breath, it will fall due to the
lack of structure under the pressure of constant changing of belief.” – Wyckoff Trader
Phase A is the market's hard stop—the moment exhaustion overrides momentum. It begins with violent liquidation, creates a reactive bounce, and culminates in a secondary test that reveals whether breath exists beneath the wreckage. Structure hasn't formed yet—it's chaos under observation, not confirmation.
Phase B is the compression chamber—where the market trades within the extremes set by the automatic rally and the selling climax, building structure but not yet revealing intent. Breath repeats patterns, tests both edges, and begins forming confidence through rhythm, not breakout. It’s not confirmation—it’s anticipation with structure, setting the stage for conviction to emerge.
Phase C is where structure is stress-tested—ghosts emerge, traps are set, and belief is forged under pressure. It’s the battlefield of conviction, where fakeouts spike and the true lift struggles before stabilizing. Amidst the chop, the breath tightens and the coil compresses—preparing for the snap that only real structure survives.
Phase D is where breath becomes structure—price begins to rise in organized sequences, printing higher highs and higher lows with conviction. The Arc extends as the composite shows their hand, pushing beyond the bounds set in Phase B and validating belief formed in Phase C. There’s no more guessing—this is the confirmation curve, and those who trusted the buildup are now getting paid.
Phase E is where structure erupts—price accelerates, volume confirms, and belief transitions into momentum. There's no more testing, no more doubt; this is conviction in motion as the trend expresses itself through fluid, continuous breath. Those already positioned ride the Arc forward—everyone else waits at the station, watching the train disappear.
The Composite Man—Wyckoff’s archetype for the collective force of smart money, institutions, and large operators—is the silent architect behind the five-phase structure. Every phase is a psychological stage play written by the Composite Man to accumulate or distribute risk while masking true intention:
In Phase A, he halts the trend.
In Phase B, he accumulates or distributes inside a range.
In Phase C, he deceives through tests and traps.
In Phase D, he reveals strength with follow-through.
In Phase E, he rides the crowd’s confirmation.
The Composite Man doesn’t just react to market cycles—he scripts them.
And your ability to read the phases is your ability to read him.
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