Disclaimer: For educational use only.
I’m not dispensing financial advice. We are having an intellectual conversation (you and I) on the topic of trading the Emini futures using the Lens of Wyckoff Principles and the Eyes of WB’s clock. The clock that controls all turns intraday, every day.
The jobs number from yesterday gave a push to get price back above Wednesday’s highs before the open. After the opening, price lifted 8 points. It was on a mission. And what was that mission? To take out a 30-point resting shelve of supply from 4135 up to 4165.
To get a better understanding of how yesterday’s trade played out let’s look at the Vesica Piscis of the move that started:
Bitcoin (BTC/USD – Two charts, current and late March 2021)We re-send out our Bitcoin chart from late March where we already predicted a significant corr
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Tuesday’s Session was
Cycle Day 1 (CD1): This day unfolded as a “normal” Cycle Day 1 as the anticipated decline did unfold, fulfilling the Average Decline Objective of 4122. Program Selling persisted all session and was capped-off with a Market on Close (MOC) Sell Imbalance of $1.3 Billion. Range was 68 handles on 1.249M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into
Cycle Day 2 (CD2): Normal price action for this cycle day following a directional trend, is for initial continuation of the previous momentum (down), then finding a stabilization zone to consolidate recent activity. As such, estimated scenarios to consider for today’s trading.
We are at an important level in the equity markets. Based on its inflection point we expect a pullback. However, the markets are always right, and we are clearly at a crossing point. We will go either much higher from here – not supported by the projected high – or we will go down from here.
For example, the S&P, which reached this morning our target of 4236 – needs to hold at its current level, or we will move another leg higher – with a next upside target of 4258. However, as seen last week, once the sellers take over, we see an acceleration, and the S&P can move within an hour 60-80 handles lower.
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