Today’s jam hgher defied conventional wisdom for a number of reasons.
Premise was month end, upside bias.
Swings were identified with logical targets and timing.
Biggest surprise was the second afternoon leg being strong and taking out the 21 High; subsequent trailer targets were identified as 2628 to 2695.5.
Paid by 2628 was suggested, and the Predictive chart was extremely helpful iidentifying key measures along the way.
While the strong profit taking swing from 2621 ish suggested the Rabid Dog Day had ended, the second leg that took out the high suggesed RDD was still in play with 12 support.
Buy pullbacks in uptrends has worked forever.
Keep doing it until it stops working.
================
This is one of the best courses I have run.
This is a sample of the work ethic we provide for our traders in DT4$3 and for Emini wizard System owners who wanted a refresher.
Slack
eminiwizard [7:33 AM using 2600 aggressive support for longs
[7:33] target 06 to 08, then the 11.75 target withxxxx support[
7:34] month end bias, Boyz keeping it afloat for now
[7:34] java
[7:34] i think they make us chase today
[7:35] drop losers fast
[7:35] weak hands as buyers
[7:36] https://content.screencast.com/users/EMWS/folders/Jing/media/b395051a-d17c-46ea-b83d-d7db0fa9a125/2017-11-28_0735.png (102 kB)
[7:36] 15
Zeek Snodgrass [8:06 AM] gm
Zeek Snodgrass [8:18 AM] International trade balance at 8:30
[8:19] Housing price index at 9am
[8:19] William Dudley speech at 9:15
[8:19] Consumer Confidence and Richmond Fed Index at 10am
[8:19] Jerome Powell speaks at 10am
[8:20] Thursday is the big Senate vote on the tax bill
[8:20] I don’t see how it passes in present form
[8:21] I believe the bill is a naked attempt to punish Blue states
[8:22] I think the solution to passing the big is nto to eliminate
[8:22] deduction for SALT, but to cap the deductions
[8:23] I also think that there has to be an attempt to stop the give away mentality of State and Federal governments
[8:23] Socialism was voted out last election
[8:24] Time to get our Federal and state budgets in balance
[8:24] I think we can have another narrow range today. I believe we could see end of month profit taking. Gap fill is my first trading idea
[8:25] xxxx still not completed
[8:25] 2610 is daily T1
Zeek Snodgrass [8:32 AM] Senate Tax committee votes on tax bill today at 2:30
[8:32] Corker expects it to pass
eminiwizard [8:33 AM]
armstrongeconomics.com
Illinois Supreme Court Rules Against Pensions | Armstrong Economics
The Illinois Supreme Court has used STRICT CONSTRUCTION to defend the State against State Employee pensions that have been bankrupting the State. Previously,
[8:34] great posts zeek thank u
[8:35] inside day so far
[8:36] squeeze formation, not a power formation
[8:36] 01 the squeezer
[8:37] https://content.screencast.com/users/EMWS/folders/Jing/media/c7dc73ac-d5xxxxxxxc44272d978/2017-11-28_0836.png
[8:37] double top for now, but i think it breaks today
[8:38] if convenient trade shorting the high doesnt work for a few, accept stops
[8:39] 01, 02 xxx
[8:39] brb
Zeek Snodgrass [9:08 AM] xxxxx08
[9:08] yest rth angel 10 is the 2610
eminiwizard [9:08 AM] https://zoom.us/j/948823937
Zeek Snodgrass [1:32 PM] there is a report that N.Korea fired a ballistic missile
[1:32] 19 is demon
[1:32] bbi 5
evan [1:32 PM] and market only down 3 handles?
Zeek Snodgrass [1:38 PM] last hr was only 1 tick higher
[1:38] pb to 12.5 is reasonable rotation
[1:41] We are going to shoot down their missiles at some point in the near future
[1:42] Trump went to military school. He know that you have to push back or be overrun
[1:43] China is the catalyst to the next financial crisis
evan [1:44 PM] what is meant by last hr was only 1 tick higher
Zeek Snodgrass [1:45 PM] xxxxxxx
[1:45] sign of loss of upside momentum
evan [1:45 PM] understood, thank you
Zeek Snodgrass [1:45 PM] yw
evan [1:47 PM] more of a time component as E talk about then?
Zeek Snodgrass[1:48 PM] NQ unch
[1:49] 2:30 scheduled Senate committee vote on tax bill
[1:53] 13.5 xxx [1:54] this may develope into xxxx
eminiwizard [1:55 PM] 13.25 xxxxxx
Zeek Snodgrass [1:55 PM] just hit 12.75
eminiwizard [1:55 PM] pfs by 12.5
[1:55] if short[1:55] rth mid[1:56] 09 is globex mid
[1:56] and NK fires misssile?
Zeek Snodgrass [1:56 PM] yes, but not confirmed
eminiwizard [1:56 PM] xxxx is 11.5
[1:57] day high may be in
[1:57] xxxxx
[1:57] and xxxxxx and shorts have big boy profit taking
[1:57] at z’s 20.88 wt2
[1:58] :slightly_smiling_face:
Zeek Snodgrass
[1:59 PM] NQ lod
eminiwizard [2:02 PM] https://zoom.us/j/711322771
zOOm
09:10:27 From Dennis Parmelee : good morning
09:10:36 From Dennis Parmelee :xxxx rule
09:10:44 From Dennis Parmelee : if long, stops up
09:14:49 From Dennis Parmelee : r1 2606.75 hit
09:15:01 From Dennis Parmelee : remainder target hit as zeek said
09:15:49 From Dennis Parmelee : market just has an agenda and has refused to pullback, making traders chasers or losers
09:26:25 From Zeek Snodgrass : 2612.63 is xxx T1
09:27:25 From Zeek Snodgrass : 2626 is xxxxxx
09:28:45 From Zeek Snodgrass : 2600.34 is this month’s xxx level and is support till broken
09:29:23 From Zeek Snodgrass : feels like a good day to play golf
09:33:33 From Dennis Parmelee : too cold
09:34:03 From Dennis Parmelee : convenient trade is scalp short, then try and realign with breakout
09:34:16 From Dennis Parmelee : risk reward the problem
09:34:21 From Zeek Snodgrass : no volume rth
09:34:34 From Dennis Parmelee : xxx is 2.91
09:34:42 From Zeek Snodgrass : sidelines for me until picture become a little more clear
09:34:46 From Dennis Parmelee : call it 2603
09:34:56 From Dennis Parmelee : the half gap 3.5
09:35:11 From Dennis Parmelee : so squeeze continues above 2603
09:35:17 From Zeek Snodgrass : pathetic volume on first candle
09:35:18 From Dennis Parmelee :xxxxx
09:44:46 From Zeek Snodgrass : voilumne is below holiday trading
09:47:21 From Dennis Parmelee : paid into 07/08 xxxx
09:48:31 From Dennis Parmelee : wac a mole
09:50:20 From Zeek Snodgrass : last 5 min candel is ouitside reversal down
09:50:31 From Zeek Snodgrass : see if we can break 04.5 and 03.5
09:51:03 From Zeek Snodgrass : NQ slightly in the red
09:51:19 From Dennis Parmelee : best odds are half gap at 3.5
09:51:42 From Dennis Parmelee : as target
09:58:52 From Zeek Snodgrass : lots of news at 10am
09:59:21 From Dennis Parmelee : flat and react
10:05:52 From Dennis Parmelee : xxx
10:06:03 From Dennis Parmelee : xxxx
10:06:28 From Dennis Parmelee : xxxx
10:15:23 From Dennis Parmelee : month end bias
10:15:47 From Dennis Parmelee : using hit and run if trading IB
10:15:51 From Dennis Parmelee : too tight
10:16:05 From Dennis Parmelee : for high expectancy of big move
10:17:05 From Dennis Parmelee : 2610 is t1 from yest
10:17:15 From Dennis Parmelee : 11.5 today’s t1
10:17:30 From Dennis Parmelee : 11.75 w T1
10:34:01 From Zeek Snodgrass : I will be in back yard mining for bitcoin
10:34:04 From Zeek Snodgrass : bbl
10:34:16 From Dennis Parmelee : lol
10:34:54 From Dennis Parmelee : see if u can find a few of my golf balls
10:38:43 From wei : thx, so we can buy at green line
10:42:29 From Dennis Parmelee : yes and then capture new highs
10:42:41 From Dennis Parmelee : then rebuy with red and blue also support
10:59:33 From Dennis Parmelee : buy high sell higher has worked today
10:59:54 From Dennis Parmelee : expect some chop maybe at lunch
11:00:17 From Dennis Parmelee : target 11.5 still available
11:00:56 From Dennis Parmelee : may have to endure sideways/ small pullback idea
11:01:18 From Dennis Parmelee : risk reward idea
11:01:30 From Dennis Parmelee : everyone now a confimed bull
11:01:52 From Dennis Parmelee : and market getting crowded with dart throwers at new highs
11:02:10 From Dennis Parmelee : dont give up 4 to make 1
11:18:04 From Dennis Parmelee : primary trade is up
11:18:12 From Dennis Parmelee : buy pullbacks allowed
11:18:27 From Dennis Parmelee : 03.5 support until broken
11:18:50 From Dennis Parmelee : trailers ok
11:19:01 From Dennis Parmelee : but be disiplined
11:19:18 From Dennis Parmelee : if sideways chop can sit with it
11:19:39 From Dennis Parmelee : but I think paid for sure by 11.5
11:20:06 From Dennis Parmelee : we had 2 point range for lunch yest
11:20:15 From Dennis Parmelee : could do more of the same today
11:20:26 From Dennis Parmelee : if shorting use 12.5 stop
11:28:24 From Dennis Parmelee : trailers for higher highs if want to sit
11:28:31 From Dennis Parmelee : i need break for eyes
11:29:33 From Dennis Parmelee : wac a mole
11:30:02 From Dennis Parmelee : very choppy squeeze
11:36:49 From Dennis Parmelee : bang
11:37:02 From Dennis Parmelee : 11.75/12 hit
11:41:03 From Dennis Parmelee : the xxxxx
11:41:17 From Dennis Parmelee : using 14/17 as primary resistance now
11:41:31 From Dennis Parmelee : 2616 is T 2
11:41:38 From Dennis Parmelee : back in a bit
11:41:54 From Dennis Parmelee : accept gifts
12:23:07 From Zeek Snodgrass : back
12:28:34 From Zeek Snodgrass : we hit xxxxx
12:28:44 From Zeek Snodgrass : move up 7.5 pts in last hr
12:28:50 From Zeek Snodgrass : figure program trade
12:28:57 From Zeek Snodgrass : we may get 2-3 pt pb in next hour
12:30:12 From Zeek Snodgrass : rdd up with most of push after IB
12:30:30 From Zeek Snodgrass : 18.75 isxxxx
12:30:37 From Zeek Snodgrass : 18.75 is xxx
12:30:59 From Zeek Snodgrass : 19 is daily T3
12:32:12 From Zeek Snodgrass : 2620.88 is xxx T2
12:33:59 From Zeek Snodgrass : volume has dropped back to very slow
12:36:09 From Zeek Snodgrass : xxxxx
12:37:36 From Dennis Parmelee : xxxx is 17.5
12:43:59 From Dennis Parmelee : significant next target we identified last week as 2617.5
12:45:44 From Zeek Snodgrass : repeat of yesterday’s North Korea missle test warning
12:46:52 From Zeek Snodgrass : this is last day to trade for Nov settlement
12:47:54 From Daniel : is the 17.50 due to xxxxxt= 2617.50
12:48:32 From Dennis Parmelee : actually it was a fib projection from….?
12:49:41 From Daniel : oh, the xxxx
12:55:10 From Daniel : fib from xxxxxx
12:56:31 From Dennis Parmelee : 10:25:55 From Dennis Parmelee : 2617.25 shows up first as a major idea resistance
10:26:15 From Dennis Parmelee : based on my theoretical market structure
10:26:52 From Dennis Parmelee : these are conceptual ideas
10:26:58 From Dennis Parmelee : from the secret code
12:56:53 From Dennis Parmelee : that is from Green Friday post
12:57:14 From Dennis Parmelee : was sanitized for public so never showed on Black friday post
12:59:35 From Daniel : awesome! thank you
13:00:29 From Zeek Snodgrass : Partying like it is 1999
13:00:40 From Zeek Snodgrass : crackup move
13:00:47 From Zeek Snodgrass : could last xxx
13:01:53 From Zeek Snodgrass : I did not find any bit coins
13:02:10 From Zeek Snodgrass : going to rent a bigger excavator
13:04:38 From Zeek Snodgrass : xxx T3 is 2628.5
13:04:49 From Dennis Parmelee : great post z regarding 21 as wt 2
13:04:53 From Zeek Snodgrass : we are not far away from infinity
13:04:59 From Zeek Snodgrass : Fed must be very happy
13:05:02 From Dennis Parmelee : off a tic from yours
13:05:07 From Zeek Snodgrass : ponzi scheme worked
13:05:10 From Dennis Parmelee : 20.63 i have
13:14:15 From Cobalt : it’s been great
13:14:32 From Cobalt : very helpful
13:15:09 From Dennis Parmelee : will reopen shortly by 145 to 2
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Afternoon Session
14:05:46 From Zeek Snodgrass : yw
14:08:45 From Dennis Parmelee : zeeks target was right on
14:08:54 From Dennis Parmelee : and system showed it beautifully
14:11:42 From Zeek Snodgrass : 03.5 half gap still open
14:12:12 From Zeek Snodgrass : xxxxx
14:12:25 From Zeek Snodgrass : that would be a sharp pencil in the bull’s eye
14:12:52 From Zeek Snodgrass : tomorrow could be umbrella day
14:15:09 From Daniel : We/I appreciate that! The vids as Ive said are awesome!!! Lots to see view but thank you!!!
14:19:35 From Dennis Parmelee : thanks Daniel
14:19:44 From Dennis Parmelee : xx
14:19:49 From Dennis Parmelee : xx
14:20:04 From Dennis Parmelee : xxxxxxxxx
14:20:32 From Dennis Parmelee : 2nd rentry short using 17/18 resistance
14:20:58 From Dennis Parmelee : entries may need to be in 16/17 area
14:22:33 From Dennis Parmelee : 2616 was T2 today
14:22:40 From Dennis Parmelee : so gravy above
14:22:54 From Dennis Parmelee : range trade xxxxx
14:22:59 From Dennis Parmelee : best idea for now
14:25:10 From Dennis Parmelee : i think we may resume chop again
14:25:23 From Dennis Parmelee : this is a funny 2 way day
14:25:35 From Dennis Parmelee : because it was like a rabid dog day
14:25:45 From Dennis Parmelee : then gave it back hard and fast
14:25:52 From Dennis Parmelee : not typical of RDD
14:26:10 From Dennis Parmelee : but still can buy the pb
14:26:18 From Dennis Parmelee : for scalp long with trend
14:27:01 From Zeek Snodgrass : xxxxxx
14:27:14 From Dennis Parmelee : chart in middle is 10 rth
14:29:39 From Dennis Parmelee : get 16 if long pfs and stops up
14:35:20 From Dennis Parmelee : bingo 17.25
14:38:34 From Zeek Snodgrass : dfd
14:38:56 From Dennis Parmelee : lock profits time
14:39:05 From Dennis Parmelee : risk small if playing now
14:39:24 From Dennis Parmelee : bye z
14:43:24 From Dennis Parmelee : all stops up longs
14:43:34 From Dennis Parmelee : new high target is 22
14:43:51 From Dennis Parmelee : pfs by duble top
14:45:32 From Dennis Parmelee : buy first pb works a lot
14:45:48 From Dennis Parmelee : not necessarily for another new high
14:45:53 From Dennis Parmelee : but as trend trade
14:46:10 From Dennis Parmelee : today it worked better than I thought it would
14:46:19 From Dennis Parmelee : double top
14:46:22 From Dennis Parmelee : xxxx
14:46:51 From Dennis Parmelee : using 12.5 as support
14:47:18 From Dennis Parmelee : if we see that again today now I will be surprised yet again
14:58:27 From Dennis Parmelee : xxxx
14:59:20 From Dennis Parmelee : xxx
14:59:38 From Dennis Parmelee : 1xxx
14:59:43 From Dennis Parmelee : typo
14:59:50 From Dennis Parmelee : xxxxx
15:15:08 From Dennis Parmelee : trailers now at 19
15:15:41 From Dennis Parmelee : any high available
15:15:49 From Dennis Parmelee : in window dressing
15:15:58 From Dennis Parmelee : Santa has come in hard
15:18:45 From Dennis Parmelee : xxxx
15:18:51 From Dennis Parmelee : this is strange day
15:19:01 From Dennis Parmelee : haven’t seen one of these in long time
15:19:07 From Dennis Parmelee : the second leg hard
15:23:27 From Dennis Parmelee : trailer target 28
15:23:39 From Dennis Parmelee : 29.5 is wt 3 as noted
15:28:21 From Daniel : looked back and couldnt find the vid on wt discussed earlier. saw the post in the slack chat. would really appreciate if you could do a vid on the math of those targets.
15:31:49 From Dennis Parmelee : ok
15:32:12 From Dennis Parmelee :xxxx
15:32:26 From Dennis Parmelee : xxxxx
15:32:36 From Dennis Parmelee : xxxxx
15:32:48 From Dennis Parmelee : xxxxx
15:36:37 From Daniel : thank you
15:44:36 From Dennis Parmelee : best proxy for trade hi is xxx
16:02:03 From wei : thx
16:02:24 From bc : thx
16:02:28 From Dennis Parmelee : matd stolen today maybe
16:02:34 From Evan’s iPad : ty E and all
16:02:35 From Dennis Parmelee : use xxxxxx
16:03:38 From Cobalt : thx E and all
