Drift Higher
The frog was put in the boiling water early this morning and simmered all day long.
Let’s call our froggie Stu.
We liked 98/99.5 as support, and encouraged DT4$2 traders to play for the half gap and gap.
Originally I thought we had room to stall today and challenge the low in a two way day, but the pace and wac a mole pattern kept us thinking target 2507 to 2508.75 were potential long side exits.
Profit taking came in right on cue, but it was small and remained above our 2502 support.
Month end and Quarter end tomorrow.
Slack
—– Today September 28th, 2017 —-
Zeek Snodgrass [8:11 AM] gm
[8:16] today is MATD by definition. IT is also end of month and quarter
[8:17] we got a 60% pb of yest range
[8:17] lots of news at 8:30
[8:19] 97.25 is this week’s middle and support till broken
[8:20] bears need to take 93-92 to negate yesterday’s move
[8:20] If there are any bears left
[8:20] mostly zombies out there
eminiwizard [8:22 AM] walking dead
[8:22] great recap zeek
[8:22] nfp etc
[8:23] picture perfect dime off the top at 99 and 60 back as z says
[8:23] should be paid ahead of news if short
[8:25] remember xx 99
[8:25] zeek’s Thursday rule
[8:25] xxx on Thurday
[8:26] fast up BS move, then re challenge that no mans land we said within day or two
[8:26] already being done
[8:27] agg support 95
[8:27] that goes, 92 fair game
[8:27 xxxx
[8:28] xxxx
[8:28] xxx
[8:28] xxxxxx
[8:29] xxx
Renato Santos [8:31 AM] GM
eminiwizard [8:36 AM] hi Renato
[8:37] xxxx
[8:37] i like this pullback as common sense
[8:38] even if for no other reason than to be “reasonable”
[8:38] rather than skate higher overnight
[8:39] yesterday’s high +2 resistance for now
[8:39] and may i remind you
[8:39] mark in your notes “Big 85” i said the boyz love
[8:40] clear with that chart
[8:40] xxx
[8:40] xxxx
[8:40] xxxx
[8:40] ok u got me, missing 3 tics
[8:40] best i can do i used to work for government
[8:41] 2497.5 is xxx
[8:42] here is a ladder for u to try and understand
[8:43] xxx
[8:43] xxxx
[8:43] xxx
[8:43] xxxx
[8:43] 2497.5xxx
[8:43] xxxx
[8:43] xxx
[8:43]xxxx
[8:44] xxxx
[8:44] increments?
[8:44] DNA of the marketxxxxx
[8:45] for most traders i assume yest was particularly annoying
[8:46] knocking shorts out of position
[8:48] inside day presumed (Right)
[8:48] and i dont think low is in yet (Wrong)
[8:50] xxxxx
[8:50] xxx chart
[8:51] suggests we have room to back and fill
[8:51] matd the problem
[8:51] so it may be a bumpy road back and fill
[8:56] xxx
[8:56] a and d
[8:57] 5 rth rain line is 99
[8:57] overnight range is correct based on the emas
[8:57] so for now 2 way
[8:58] and small
[8:58] xxx rule
[8:58] small bounce towards gap is the odds
[8:58]xxxxx
[8:59] not yet
[9:01] brb
[9:10 AM] using 99.5 as primary magnet
[9:16 AM] https://zoom.us/j/248854883 zoom zoom
E@eminiwizard
DT4$2 is looking at 2508.25 target achieved; 9.75 T2 and wt1 10.75; using 2513 as nest resistance zone Paid for sure by 2508.25 if long
DT4$2 ow.ly/aedR30ftGvR follow the plan #ES_F when time and price agree, get paid
T1 today is 8.75, DT4$2 traders advised stops up/ paid for sure at target 2507 #ES_F aggressive support remains at 2498
@abydnave You are absolutely correct. What matters is what you are learning and applying as you develop your skills and mindset of a winning trader
Zoom Room
09:16:56 From Dennis Parmelee : good morning
09:31:30 From Zeek Snodgrass : half gap hit
09:31:57 From Dennis Parmelee : 2.75 is half gap
09:32:37 From Dennis Parmelee : convenient trade a winner
09:32:54 From Dennis Parmelee : paid by 2.75 to 03
09:33:02 From Dennis Parmelee : want more? trail
09:37:18 From Zeek Snodgrass : NQ about to make new low for today
09:37:30 From Zeek Snodgrass : NQ leading on downside today
09:41:40 From Dennis Parmelee : do not over trade your account
09:41:58 From Dennis Parmelee : two way day
09:42:05 From Dennis Parmelee : hit a bounce or two
09:44:44 From Dennis Parmelee : xxx
09:49:02 From Dennis Parmelee : 2 tics
09:49:04 From Dennis Parmelee : for gap
09:49:36 From Zeek Snodgrass : gap filled
09:49:45 From Dennis Parmelee : 5928 watch for profit taking
09:49:49 From Dennis Parmelee : q
09:49:55 From Dennis Parmelee : ty
09:50:47 From Dennis Parmelee : take the trades u dont like
09:51:08 From Dennis Parmelee : grab 2 and be happy
09:59:02 From Zeek Snodgrass : looks like the MATD is limited
09:59:16 From Zeek Snodgrass : we need to break globex high by 10:30 for bulls to gain big edge
09:59:33 From Zeek Snodgrass : 01.25 rth xx being defended
09:59:39 From Dennis Parmelee : symmetry
09:59:48 From Dennis Parmelee : 09 to 99
09:59:56 From Dennis Parmelee : then 04 bounce
10:00:05 From Dennis Parmelee : middle of that swing
10:00:28 From Dennis Parmelee : so winner of this swing in control
10:01:05 From Dennis Parmelee : for double top or retest/ failure
10:01:08 From Dennis Parmelee : or
10:01:21 From Dennis Parmelee : deeper pullback / search for support
10:01:27 From Dennis Parmelee : with new high yest
10:01:36 From Dennis Parmelee : hard to expect big pullback today
12:09:39 From Dennis Parmelee : thank u zeek
12:10:08 From Dennis Parmelee : took walk and bumped into my friend Anthony Crudele so we chatted for a bit
12:10:33 From Dennis Parmelee : bowties idea on 5 rth rthat zeek talked about
12:10:47 From Dennis Parmelee : i learned that idea from Dave Landry
12:11:31 From Dennis Parmelee : buyers at the middle still have bought the dips for small bounces
12:11:49 From Dennis Parmelee : and moving demon says trend up for now
12:13:51 From Dennis Parmelee : T1 today is 8.75
12:14:16 From Dennis Parmelee : thinking paid for sure by 2507 as said earlier if long
12:16:18 From Dennis Parmelee : if long move stop up to 4.25
12:22:37 From Dennis Parmelee : cover by target 2407.13
12:22:44 From Dennis Parmelee : if long
12:30:31 From Dennis Parmelee : ok back in a few mins
12:31:10 From Dennis Parmelee : steep trendline
12:58:46 From Dennis Parmelee : squeezer
12:59:44 From Dennis Parmelee : lets use 2502.5 as squeeze pivot
12:59:56 From Dennis Parmelee : shorts need to undo that
13:00:38 From Dennis Parmelee : 2 way day requires anotehr pullback say about 5 points
14:13:22 From Dennis Parmelee : this is such a snail day it is ridiculous
14:13:35 From Dennis Parmelee : frog in boiling water
14:24:59 From Dennis Parmelee : luck E guess
14:35:02 From Zeek Snodgrass : dfd
14:35:09 From Zeek Snodgrass : cya tomorrow
14:35:29 From Evan’s iPhone : thank you Zeek!
14:38:46 From Dennis Parmelee : thnks zeek
14:38:58 From Dennis Parmelee : target 5 to 4.75 would be grea for shorts
14:39:49 From Dennis Parmelee : xx back intra day
14:49:04 From Dennis Parmelee : get two points if u can
14:49:27 From Dennis Parmelee : if shorted the top like simon suggested
14:51:17 From Dennis Parmelee : inside day
14:51:23 From Dennis Parmelee : just barely
14:52:14 From Renato : If it xxxx then “undressing” possible, IMO.
14:52:30 From Renato : might take it back to xxxx
14:52:55 From Dennis Parmelee : lol
14:55:13 From Renato : yes, it has xxx
14:57:57 From Renato : as long as it does not xxx
14:59:05 From Renato : so the idea here for this trade was to short 2508 with tight STOP above 2509
14:59:43 From Dennis Parmelee : thank u
15:00:03 From Renato : so, if we scaled out at +2, then now, NO RISK.
15:00:12 From Dennis Parmelee : right
15:01:06 From Dennis Parmelee : Free trade
15:01:29 From Renato : lol
15:01:56 From Dennis Parmelee : if mic is open we dont want to hear u beating up wife
15:02:04 From Dennis Parmelee : or she beating up on u
15:03:39 From Renato : Monday and Wed were great, so maybe tomorrow another good day
15:04:31 From Dennis Parmelee : spider pattern
15:09:28 From Dennis Parmelee : Renato referring to free trade
15:09:28 From Simon : lol, edge? 0.2% range
15:09:43 From Simon : tough push
15:09:52 From Dennis Parmelee : until 02 broken
15:10:02 From Dennis Parmelee : yes edge for squeeze simon
15:11:18 From Simon : yep opened and up ..still trend day
15:12:43 From Dennis Parmelee : protect profits
15:12:47 From Dennis Parmelee : if any
15:13:28 From Dennis Parmelee : wac a mole
15:14:50 From Dennis Parmelee : be back in a few mins
15:15:06 From Dennis Parmelee : target 8.75 NRO
15:15:13 From Dennis Parmelee : not ruled out
15:15:33 From Dennis Parmelee : tedious
15:40:54 From Renato : holding 1/4 only now…
15:41:24 From Renato : no matter waht, $$$$ in da bank. 🙂
15:45:18 From Dennis Parmelee : its a beautiful thing
15:55:41 From Renato : look how it xxx
15:55:45 From Dennis Parmelee : xx
15:56:13 From Dennis Parmelee : xxx
15:56:32 From Dennis Parmelee : so xxxx overnight
15:58:15 From Simon : trillon dollar marker moves 0.2%
15:58:21 From Simon : price discovery
15:59:25 From Dennis Parmelee : range trading the first significant high 86.25 to the xxx xxx target
16:01:01 From CS : thanks Dennis!
16:03:03 From CS : great tyvm
16:03:34 From Renato : thank you Dennis
16:03:37 From Renato : GN ALL
16:03:53 From Dennis Parmelee : gn all
16:03:59 From Dennis Parmelee : and ask questions
16:04:05 From Evan’s iPhone : GN all, TY E!
16:04:09 From Dennis Parmelee : especially the women
16:04:24 From Dennis Parmelee : Carin wil have some insights we as men wont see
16:04:30 From Dennis Parmelee : and Di
