📜 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 2,077 – Copyright (c) 2026. All rights reserved.
Keeping WB's Clock Alive Since 2017
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FROM THE DESK OF WYCKOFF TRADER
"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
Today's Note: Overnight flows held the cash close, and the 8:30 reaction stayed inside yesterday's structure. The AM LOW may align more cleanly with the clock today if buyers remain passive into the open.
📜 Good morning. Today is SERIES S3L.
🎛️ Tape Read: 🏛️🐂💲 Early balance → shallow dip to test Last‑Hour sweep → responsive bid → probe toward AM‑high zone → continuation only if buyers show real intent.
🧭 Honing Turns: Spill up → AM LOW → MID AM HIGH → lunch low → mid pm high → Last‑Hour LOW
🧩 Why Tape Read for today?
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Early balance signaled observation mode, inviting structural listening
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Shallow dip pressed into the AM LOW, forming the selling‑climax base
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Responsive bid confirmed sponsorship returning exactly where structure demanded
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Probe upward revealed intent was exploratory, not expressive
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Continuation required buyers to shift from reaction into motive
Structure Check: Composite Man checked the spill up for a good short run of about 50 points or more to close at the AM LOW yesterday.
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📜 THE COMPOSITE MAN’S FOOTPRINTS
Some days don't whisper — they _tilt_.
Today opened with that unmistakable spill‑up, the kind that rises just enough to make the inattentive lean the wrong way. By 9:35, the tape had already revealed its posture: not strength, not weakness — a setup. The kind of early motion that tells you the Composite Man is getting ready to pull the floor from the market.
The drop into the AM LOW seal at 10:25 wasn't panic; it was choreography. A clean descent into the morning's structural floor, the kind of move that confirms the day's series classification long before lunch ever arrives.
You saw it.
You recognized it.
You named it: S2L — Spill → AM Low → Lunch High → Mid‑PM Low → Last Hour High.
That's the language of the operator. That's the apprenticeship working.
From there, the day behaved exactly as a trained eye would expect.
The 12:50 Lunch High reclaimed five‑eighths of the morning's descent — not enough to reverse the narrative, but more than enough to confirm sponsorship was present. A recovery with intention, not enthusiasm.
Then came the 2:10 Mid‑PM Half‑Hold, the structural midpoint where the market paused, breathed, and revealed its hand.
This is where most traders get nervous.
But structure doesn't lie.
Half‑holds are the operator's way of saying:
_"I'm not done."_
And the day wasn't done.
At 3:10, the tape performed the classic soap‑drop — a quick, slippery dip that shakes loose anyone who mistakes motion for motive.
But the drop didn't break structure.
It _completed_ it.
This wasn't randomness.
This wasn't noise.
This was a day that taught — if you were listening.
You're not just watching these days anymore.
You're _reading_ them.
You're hearing the operator's voice in the timing, the posture, the sequence.
Learning to trust the structure that's been there all along.
And today, you didn't just follow the S2L.
You _understood_ it.
The Composite Man leaves footprints for those who know where to look.
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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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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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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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