📜 THE AM TURN
A Wyckoff‑Structured Reading of the Prior Session
Legal Disclaimer: The AM Turn is an educational commentary on market structure and operator behavior. It does not provide investment, trading, legal, or financial advice. All market activity involves risk, and past behavior does not guarantee future results. Readers should perform their own due diligence and consult qualified professionals before acting on any information contained herein.
Issue 2,058 – Copyright (c) 2026. All rights reserved.
Keeping WB's Clock Alive Since 2017
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FROM THE DESK OF WYCKOFF TRADER
(Read the Terminology at the bottom if you need clarification on Wyckoff/WB/ME‑isms)
"As you study the market each day, remember that its movements are the deliberate expressions of the large interests, and your task is to observe them without haste or bias. In The AM Turn, I ask you to read each session as a lesson from the Composite Man himself, for he reveals his intentions to the student who watches with discipline and an open mind." — Wyckoff Trader
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📜 Good morning. Today is SERIES S4h.
🎛️ Tape Read: 🏛️🐂💲 Potential Sign of Strength coming soon
🧭 Honing Turns: Spill down → AM HIGH → Mid‑AM LOW → Lunch high → Mid‑PM low → Last‑Hour high
Today's Lean: Normal, Wedge Zoom, Link Stink
SERIES DAY (ALL TIMES EST — NEW YORK CITY)
🕒 Spill 9:30-9:57
🕒 AM 10:00-10:57
🕒 Mid‑AM 11:00-11:57
🕒 Lunch 12:00-1:57
🕒 Mid‑PM 2:00-2:57
🕒 Last Hour 3:00-3:57
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🧭 S3L Daily TURN SUMMARY
A concise ledger of yesterday's dominant intraday structures.
Daily Classification: S3L — This day is an independent mid pm as the lows were lost at 2:30 pm.
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🌤️ MARKET WEATHER
A session defined by early pressure, shallow rallies, and defensive bidding, where the Composite Man let the market test its own foundations. Demand appeared in brief pockets but never with conviction, while supply expressed itself cleanly whenever pressure returned. The day closed with partial recovery, but the overall tone reflected fragile demand and responsive–not proactive–support.
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🦶 The Composite Man's Footprints
S3L Day — Price gave way at the end of the day.
Bulls were in control at the open. Price was on the bid with supply creeping in. You could see it as the Composite Man was on the bid but not talking all that was offered. The price was not aggressive enough for the bulls' hopes.
You can see a dip at 10:50 am, where weakness showed as the price fell to a lower bid. This prints a new intraday low. Not a strong bullish story.
The Composite Man quickly holds the bid, taking the other side, and quickly prints a higher high. You guessed it at the start of the lunch SLOG at 12:01 pm.
From there, it was a slow decline. At 2:30 pm, a new intraday low prints. Confirming the weakness mentioned before. A ten-minute rally.
Then one last lunge down where weak hands are shaken as the Composte Man loads up for the Globex run.
The Composite Man leaves footprints for those who know where to look.
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⚡ THE COMPOSITE MAN'S BIG TEN
The S&P 500 is no longer 500 stocks.
It's 10 stocks with 490 passengers.
NVDA, AAPL, MSFT | AMZN, GOOGL, GOOG, META | TSLA, AVGO, BRK.B
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✉️ READER'S NOTE
Q: "How can I tell when the Composite Man is absorbing supply rather than distributing?"
A: Absorption is marked by firmness on reactions and a reluctance of the price to decline despite active selling; distribution reveals itself through labored advances and a tendency for the price to fall easily when demand pauses. Study the character of the movement, not merely its direction.
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Dates
📅 February 7 — Dog Moon, 7:11 a.m.
📅 April 21 — Spring Solstice (Equinox), 11:11 a.m. (all times EST)
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💬 FEEDBACK & CORRESPONDENCE
If you have thoughts, questions, or observations about today's issue of The AM Turn, you may write directly to the desk at feedback@wyckoffamtrader.com.
Every note is read with care, and while individual replies are not always possible, your insights help refine the work and sharpen the daily study of the Composite Man's operations.
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(c) 2026 The AM Turn. All rights reserved.
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