Yesterday was Taylor day 3, a buy day, and that made today day two in the buy idea.
Theoretically, llok for pullbacks propotionate to the range.
We thought 26 to 24 was the aggressive support for gap trade and testing te ovrenight high + to 38.25/42.25 targets.
Videos available for DT4$3 subscribers to see the ideas unfold as violations gave us a sense of direction.
Rollover may have accounted for some confusion, but it shouldn’t for serious students of the market.
We elected to stay with the December contract for continuity of teaching purposes.
Dt4$3 Print out the chart to go with today’s notes ow.ly/8qQD30h45RE 37.25 target a bit late for day traders
DT4$3 follow the plan ow.ly/mF2b30h4zwG keep it simple
DT4$3 ow.ly/C6rm30h4zTV just relax and feel the market as it moves
E: 10: 45 target for longs 38.25 to 42.25 DT4$3
December 7th, 1941
“– a date which will live in infamy”
Slack
eminiwizard [8:47 AM]good morning
[8:48] beautiful overnight rotation
[8:48]if played short side for gap
[8:49]should be paid 29/28
[8:49]retest the late 28
[8:49]that low held and was driver
8:49] so lets keep same frame
[8:50] xxxx
[8:53]27.25 is important now
[8:54]bottom of pipexxxxxx
[8:55 swing mid xxxxx
[8:56] first thought is inside the 2 day range
8:57]keep 35 as resistance until broken
eminiwizard [9:03 AM] xxxxxx done
[9:04]immediate support is 24 yest rth low
eminiwizard[9:11 AM] https://zoom.us/j/600353606
eminiwizard [9:54 AM] connection problem
[9:54]i will reboot room in a few mins to be sure any videos etc will work
[9:56]agg shorts are xxx
[9:56]conserv above the 2 day high
[9:57]brb
eminiwizard [10:10 AM] https://zoom.us/j/960305332 try it again
Zeek Snodgrass[10:11 AM] rollover day, market could be choppy and range bound
eminiwizard [10:11 AM] ty
[10:14]zoom open try link
[10:14] first room abandoned
eminiwizard [1:28 PM]https://content.screencast.com/users/EMWS/folders/Jing/media/8ce9xxxxxxx43e8-bcfd-d475c968fd5c/2017-12-07_1327.png (43 kB)
[1:28]37 overnight high is clue
[1:32]https://content.screencast.com/users/EMWS/folders/Jing/media/f712139a-0a0e-4896-b757-41xxxxxxa/2017-12-07_1331.png (39 kB)
evan [1:33 PM]uploaded and commented on this image: image.png
1 Comment
ES – was also noticing this on a larger timeframe. It’s xxxxxx Just for xxcontext, I was thinking above/below that 34 area as a possible important area.
eminiwizard[1:36 PM]thanks Evan
[1:36] xxx
[1:36] so working back wards
[1:37] xxxxx
[1:37] and xxxx
[1:38] so primary battlefield is?
[1:38] xxx
[1:39]good fortune above 42.25
[1:39]stops up on trailers
[1:41] https://content.screencast.com/users/EMWS/folders/Jing/media/224cc217-1a95-41ac-bdf8-bxxxxxx8159d/2017-12-07_1340.png (84 kB
[1:41] 5 globex
[1:42]brb
Zeek Snodgrass[1:51 PM]back
eminiwizard [2:05 PM]1 min
[2:06]https://zoom.us/j/467251765
[2:07]anyone around here we go
zOOm
A few videos lost today when glitch stopped zoom.
09:24:41 From Harvey : ThinkOrSwim is still on December contract so lots of Retail traders still using Dec I suspect
09:25:13 From Harvey : TDAmeritrade as it’s now known as
09:27:24 From Dennis Parmelee : ty
09:28:06 From Dennis Parmelee : stop run a few longs prt of idea today
09:30:10 From Dennis Parmelee : xxxx
09:31:23 From Dennis Parmelee : gappers paid
09:42:15 From Dennis Parmelee : 2 way day
09:42:30 From Dennis Parmelee : inside two day rnge is likely
09:46:44 From Dennis Parmelee : stops up for 32 if long
==============
Break
10:11:40 From Dennis Parmelee : glitch some how
10:12:09 From Dennis Parmelee : need to reboot a few charts
10:12:11 From Dennis Parmelee : grr
10:16:31 From Zeek Snodgrass : 29.5 angel hit
10:21:30 From xxxx to Dennis Parmelee(Privately) : GM, do you see 38.25 in the cards? I believe xxx and ive been testing the OCF + xxxand it seems to hit nearly 9/10 days on the same day if not within 24 hrs. Curious if this is coincidence or if you have noticed this??
10:23:08 From Daniel: The videos themselves are priceless, so I appreciate you trying to ensure you captured this information!
10:24:25 From Zeek Snodgrass : not much volume so far
10:33:12 From Dennis Parmelee : pfs if long 34.5 to 35
10:33:19 From Dennis Parmelee : 36 is xx
10:36:46 From Zeek Snodgrass : not very heavy, looks like today rollover taking place today
10:42:20 From Dennis Parmelee : retest failure?
10:42:26 From Dennis Parmelee : maybe first time
10:42:44 From Dennis Parmelee : but looks like shorts need to be conservative
10:42:57 From Dennis Parmelee : using xxx
10:43:53 From Dennis Parmelee : agg squeeze pivot is 29.5
10:46:22 From Dennis Parmelee : target for longs
10:46:37 From Dennis Parmelee : 38.25 to 42.25
10:50:17 From Daniel : What creates the 29.5 squeeze pivot? Im sure it has been covered but not ringing a bell
10:55:46 From Daniel : 29.5 lol
10:56:01 From Daniel : seems too easy, my bad…lol
10:58:49 From Cobalt : y
11:00:58 From Cobalt : yes sir
11:01:08 From Cobalt : it does
11:08:52 From Dennis Parmelee : markets turn on a dime so i like to think always get paid within 1 point +/- double top or bottom
11:10:03 From Dennis Parmelee : xxx at 33
11:10:05 From Dennis Parmelee : id
11:10:44 From Dennis Parmelee : capture something
11:10:47 From Dennis Parmelee : by 32
11:10:58 From Dennis Parmelee : lucky trade
11:11:05 From Dennis Parmelee : for shorts
11:15:25 From Cobalt : as always great instruction E. Thanks, gotta run for rest of the day. see you tomorrow
11:16:46 From Dennis Parmelee : 32/34 should be chop a minute
11:19:33 From Zeek Snodgrass : 32.75 pg
11:19:41 From Zeek Snodgrass : double top pb
11:19:51 From Zeek Snodgrass : next trip 3x thru
11:20:50 From Dennis Parmelee : agreed
11:20:58 From Dennis Parmelee : but i think need more time
11:21:16 From Dennis Parmelee : so not expecting it as part of primary trade
11:24:44 From Zeek Snodgrass : I will be trading the march contract tomorrow for the employment rep[ort
11:24:50 From Zeek Snodgrass : report
11:25:48 From Dennis Parmelee : ok ty
11:26:26 From Dennis Parmelee : easier to teach the continuity with dec
11:26:31 From Dennis Parmelee : for tomorrow
11:35:50 From Daniel : gtg
11:36:36 From Zeek Snodgrass : this rollover chaos
11:40:28 From Dennis Parmelee : 42.25 target
11:43:20 From Zeek Snodgrass : see if we get lunch profit taking
11:43:34 From Zeek Snodgrass : the market levitation is on suspect volume
11:43:53 From Zeek Snodgrass : have to figure where they want to put the market to complete the rollover
11:44:26 From Zeek Snodgrass : I think the telling data point is the retracement to 2xxxx
11:44:35 From Zeek Snodgrass : xxxx
11:45:12 From Zeek Snodgrass : NQ did not make an addition new high for the day on the last leg up
11:52:32 From Zeek Snodgrass : lunch pb would be normal
11:53:14 From Zeek Snodgrass : Wall Street may be caught up in the harrassment scandel
11:53:37 From Zeek Snodgrass : Paul Tudor Jones email revealed upporting Harvey Weinstein
11:53:48 From Zeek Snodgrass : I think that opens the door to closer examination
11:54:36 From Dennis Parmelee : 32/42 fast down being re auctioned
11:54:45 From Zeek Snodgrass : Franken is about to resign
11:54:57 From Zeek Snodgrass : that is 2 gone and a bunch more to go
11:55:24 From Zeek Snodgrass : March contract hit 42.25
11:55:38 From Zeek Snodgrass : not much
11:55:42 From Dennis Parmelee : budget ?
11:55:44 From Zeek Snodgrass : Shutdown on saturday
11:55:53 From Dennis Parmelee : debt ceiling
11:56:09 From Zeek Snodgrass : there may be a deal tonight or else we have a shutdown
11:56:30 From Zeek Snodgrass : It would not bother me one bit if government was shut down for an extended period of time
11:56:38 From Zeek Snodgrass : would result in billions in saving
11:56:42 From Zeek Snodgrass : yes
11:56:52 From Zeek Snodgrass : bond market will experience an earth quake
11:57:12 From Zeek Snodgrass : it will matter more tomorrow than today
11:57:22 From Dennis Parmelee : https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/trump-taxes/
11:57:28 From Zeek Snodgrass : ty
11:58:01 From Zeek Snodgrass : The Trump tax bill is so poorly written and error filled, that it should not be voted on until it is corrected
11:58:13 From Zeek Snodgrass : they did the same thing with Obamacare and look what happened
11:58:24 From Zeek Snodgrass : 41.25 is xx T1
11:58:48 From Zeek Snodgrass : 42.63 xxx
11:58:51 From Dennis Parmelee : and i have 41.25 as 2 x ib range
11:59:35 From Zeek Snodgrass : 42.25 is IB xx
11:59:59 From Zeek Snodgrass : My spread sheet is not up to date
12:00:02 From Zeek Snodgrass : will fix it now
12:00:44 From Zeek Snodgrass : lunch bbl
12:02:26 From Daniel : might miss this afternoon, thank you for all your knowledge!!!
12:02:42 From Dennis Parmelee : 42/45 as resistance
12:02:49 From Dennis Parmelee : 32 agg support
12:03:05 From Dennis Parmelee : xxx
12:03:16 From Dennis Parmelee : xxxx
12:03:20 From Dennis Parmelee : xxxx
12:03:26 From Dennis Parmelee : xxxxxxxxx
12:03:38 From Dennis Parmelee : little profit taking maybe
12:03:42 From Dennis Parmelee : bye for now
====================
Afternoon Session
14:07:53 From Zeek Snodgrass : Here
14:09:20 From Dennis Parmelee : hi z hi evan
14:09:39 From Evan’s iPhone : hey e. hey zeek
14:10:16 From Zeek Snodgrass : we are learning knit this afternoon
14:11:36 From Zeek Snodgrass : looks like governemnt funding drama tomorrow
14:21:43 From Dennis Parmelee : xxxxxx
14:21:55 From Dennis Parmelee : what pb level has been hit
14:22:48 From Evan’s iPhone : xxxx
14:23:03 From Evan’s iPhone : xxxx
14:27:27 From Zeek Snodgrass : 37 (globex hi) broken to the downside
14:27:46 From Zeek Snodgrass : 33.75 IBH
14:28:11 From Zeek Snodgrass : waking up finally
14:31:38 From Dennis Parmelee : 35.5 is xxx
14:38:41 From Dennis Parmelee : paid for sure by 33.25/32.75
14:39:09 From Dennis Parmelee : trail below xxxx
14:39:30 From Dennis Parmelee : retesting yest high
14:39:39 From Dennis Parmelee : key key key
14:40:58 From Dennis Parmelee : xxxx big boy in it
14:44:31 From Zeek Snodgrass : dfd
14:45:44 From Dennis Parmelee : ty zeek
14:46:31 From Dennis Parmelee : i think high is in
14:46:39 From Dennis Parmelee : for today
14:47:46 From Dennis Parmelee : xxxx
14:51:32 From Evan’s iPhone : xxxxxx
14:53:01 From Dennis Parmelee : no conta during lunch or morning
14:53:09 From Dennis Parmelee : so higher odds for one in afternoon
14:59:14 From Evan’s iPhone : bounced off days open 32.75 if I have that right?
14:59:45 From Dennis Parmelee : no
15:00:16 From Dennis Parmelee : 30.5 days open
15:00:57 From Dennis Parmelee : xxxx
15:01:02 From Dennis Parmelee : xxx
15:01:22 From Dennis Parmelee : 37.5 agg resist
15:03:12 From Evan’s iPhone : whoops, again, charts switched to chi time
15:03:17 From Evan’s iPhone : ty e
15:09:57 From Dennis Parmelee : xxxx
15:10:01 From Dennis Parmelee : so 456
15:10:21 From Dennis Parmelee : xxxxx
15:10:37 From Dennis Parmelee : 33 is xxxxx
15:16:17 From Dennis Parmelee : paid by 37/37.5
15:16:22 From Dennis Parmelee : if long
15:24:35 From Dennis Parmelee : retest and now more is good fortune
15:24:58 From Dennis Parmelee : shorts using 39 resistance
15:35:06 From Dennis Parmelee : longs with trailer use stop34.5
15:35:23 From Dennis Parmelee : but dont give it all back
15:50:24 From wei : lost wifi, reconnect
15:51:05 From wei : missed pretty the whole day. will video be available
15:51:16 From Dennis Parmelee : yes
15:51:44 From wei : thx. the same password, right?
15:53:41 From wei : i thought zoom only allows wifi, right?
15:57:14 From wei : if i use cellular data, i cannot get in
15:59:22 From wei : meeting room
16:00:35 From wei : yes
16:00:41 From Dennis Parmelee : so no cell phone
16:00:42 From Dennis Parmelee : ok
16:07:57 From wei : thx
16:08:00 From Dennis Parmelee : gn all
16:08:11 From Dennis Parmelee : that review for wei wasnt recorded
16:11:01 From Dennis Parmelee : closing above 34.5
16:14:10 From Dennis Parmelee : 39 hit boyz still want to knock out shorts
16:14:20 From Dennis Parmelee : 43 next resist to 45
16:14:31 From Dennis Parmelee : gn
16:15:17 From Dennis Parmelee : 39.75 close
