The slingshot long finally ended today with a gentle pullback.

No one expected it, that’s probably why it quietly retreated.

Options expiration killed the put premium, and calls die a quiet death as both volatility and time decayed.

Recency Bias suggests a trend in motion will stay in motion, until it doesn’t.

Not many shorts remain alive to have profited from today’s action.

Next.

Twitter

Skeptical about longs above 2582 to 85 #EMWS ow.ly/HxAC30g43Ky

we preferred back and fill today after options expiration primary target 67.5 to 68.5 good fortune below including test Friday’s 66 rth low

exactly, but need a dose of reality, advised traders paid by 62 ahead of the 60.75 gap ow.ly/tZd130g4P91 DT4$2 love the 62/63.75 test

before and after ow.ly/iQtF30g4PER 82 to 85 remains as resistance 9:45 i like hit a bounce or two today since op ex games was one way

just when everyone buys into the story the boat is loaded the wrong way DT4$

if a child is 5’6″ tall at 15 years old, will she be 11′ tall at 30? This market has become so complacent no one expects a down day anymore

Illustrates recency bias only not the relative move from 666 low obviously. Bulls are born from bears and vice versa Known only in hindsight

Slack

eminiwizard [3:39 PM] https://content.screencast.com/users/EMWS/folders/Jing/media/0fac3c9f-0fde-4ec3-885b-1982e2acab01/2017-10-21_1538.png

[3:41] https://content.screencast.com/users/EMWS/folders/Jing/media/7c9346e9-2891-4618-87c2-afa1b348a400/2017-10-21_1540.png[3:43] https://content.screencast.com/users/EMWS/folders/Jing/media/9bdad8c4-32be-4bc0-81ec-d48bbf938751/2017-10-21_1542.png

[3:43] 30[3:45] https://content.screencast.com/users/EMWS/folders/Jing/media/56e5ddb6-452f-4069-854b-57ee541606f7/2017-10-21_1545.png[3:47] https://content.screencast.com/users/EMWS/folders/Jing/media/c9126451-e825-4c6c-b2fb-2c8f7f03f466/2017-10-21_1546.png

[3:48] nice weekend to all

—– Today October 23rd, 2017 —–
Zeek Snodgrass [8:12 AM] gm all

[8:12] Post expiration Monday usually a slow small range day
[8:12] we will see[8:12] new all time high, not bearish
[8:13] 72.75 angel 76 demon
[8:15] 2581-82 is a series of completion targets
[8:15] 67.5 Fri angel is support till broken

evan [8:15 AM] Gm Zeek

Zeek Snodgrass [8:15 AM] GM Evan

Renato Santos [8:15 AM] GM

per [8:51 AM] Gm all

eminiwizard[8:58 AM] good morning

[8:59] not much to add to zeek’s commentary
[8:59] xxxx
[8:59] xxxxxx
[9:00] xxxx
[9:01] https://content.screencast.com/users/EMWS/folders/Jing/media/9c1fd20e-89cb-4db1-9474-e54262e4ae8c/2017-10-23_0900.png
[9:03] friday’s high is overnight middle symmetry
[9:04] many completion targets i have 78/79
[9:04] just ahead of zeek’s

Zeek Snodgrass [9:05 AM] gm Dennis

[9:05] typical Monday, reach for new highs and then pullback

eminiwizard [9:06 AM] i think 85 is big completion target resistance

[9:06] hi zeek
[9:07] cloudy here in downtown New Haven
[9:07] i will put zoom on for awhile[9:07] but going in many directions including spend time with grandchildren this afternoon

Zeek Snodgrass [9:09 AM] I have found that morning offers best opportunity 80% of the time last 3-4 months

[9:09] until the day that trading interst is near zero
[9:10] Yellin already planting seeds for Fed action in next crisis
[9:11] If only most would realize we have a crisis because Fed failed as banking supervisor
[9:11] last really nice day here. I will take advantage later

eminiwizard[9:12 AM] this market has been relentless

[9:12] so many gaps and maybe 50% of them filled

Zeek Snodgrass [9:13 AM] I have a very long list of downside gaps

eminiwizard[9:15 AM] good

[9:15] i lost count
[9:15] https://zoom.us/j/192907399 zoom

Thank You

Belated thanks you’s to all. Been busy but no excuse. I like to say thank you for your interactions with me.

@treysdubya @K_Santander @jdextras @mmtrades5643 @Omar_Ghias97 @Cubby_Blu @abydnave @LongTplexTrader @shemesht @Serious_Trader @onefourdroopy @thomasoakes @clayidus @Intuitive_Power @11cjh11 @CorporateCommie @pipsnticks @stocktrader0610 @SE1_Trading @DethTrader @sakamotoinvest @chigrl @IHBDSB @FuturesTrader71 @briddle817 @RenaTrader

zOOm

09:20:15 From Dennis Parmelee : good morning
09:20:50 From Dennis Parmelee : skeptical above 82 to 85
09:21:15 From Renato : GM E
09:22:11 From Dennis Parmelee : hi Renato
09:24:00 From Renato : perfect.
09:26:41 From Zeek Snodgrass : boiling frog on Friday
09:26:49 From Zeek Snodgrass : expiration games in afternoon
09:27:09 From Zeek Snodgrass : I think next Fed meeting could be the catalyst
09:27:24 From Zeek Snodgrass : Bond market is another potential trigger
09:28:16 From Zeek Snodgrass : 69.5 is Fri IB high
09:31:09 From Dennis Parmelee : 74 gap = 60 xxxx
09:31:36 From Dennis Parmelee : 9 am rule
09:31:46 From Dennis Parmelee : plays out for mid test
09:32:39 From Dennis Parmelee : odds were just as good for small pb
09:32:45 From Dennis Parmelee : at open
09:33:00 From Dennis Parmelee : key is follow thru
09:37:35 From Dennis Parmelee : grab 1 or 2 if can
09:42:39 From Dennis Parmelee : paid by 73.25
09:44:33 From Dennis Parmelee : 5 point overnight range is tough
09:45:33 From Dennis Parmelee : i like hit a bounce or two today
09:45:47 From Dennis Parmelee : since op ex games was one way
09:54:08 From Dennis Parmelee : limited oppty IB I think
09:54:17 From Dennis Parmelee : range type
09:57:44 From Zeek Snodgrass :xxxxx  revesal down?
09:57:54 From Dennis Parmelee : my thinking is we need back and fill
09:59:57 From Zeek Snodgrass : end of month activity starts Wed
10:04:50 From Di : ECB on thurs
10:04:56 From Di : i think
10:05:42 From Zeek Snodgrass : sorry
10:06:08 From Zeek Snodgrass : nothing today PMI flash tomorrwo at 9:45 Richmond Fed index at 10am tomorrwo
10:06:18 From Zeek Snodgrass : 3-4 inches of rain tomorrow night
10:06:55 From Zeek Snodgrass : busy killing the oil company and teh elctric provider
10:09:10 From Zeek Snodgrass : knock oil price down 22 cents
10:10:38 From Dennis Parmelee : if buying 72 support think small
10:14:26 From Dennis Parmelee : accept stop if trying and get no traction
10:25:07 From Dennis Parmelee : thinking small
10:25:15 From Dennis Parmelee : but prefer back and fill
10:30:15 From Dennis Parmelee : db
10:30:26 From Dennis Parmelee : normally must be paid by db
10:37:34 From Zeek Snodgrass : why not?
10:37:40 From Dennis Parmelee : xxxxxx
10:37:48 From Zeek Snodgrass : what happen to kill’em all and let god sort it out?
10:37:49 From Dennis Parmelee : believers buy
10:37:57 From Dennis Parmelee : lol
10:38:03 From Dennis Parmelee : God is dead I guess
10:38:12 From Zeek Snodgrass : darn
10:38:15 From Dennis Parmelee : unfortunately
10:38:44 From Zeek Snodgrass : there goes an important pillar of relity
10:38:52 From Zeek Snodgrass : reality
10:39:42 From Zeek Snodgrass : db bounce and then we get 3x thru 72
10:39:59 From Zeek Snodgrass : see if bots allow this idea to work for fist ime in forever
10:40:27 From Zeek Snodgrass : still inside day…ho hum
10:48:23 From Dennis Parmelee : lol call zeek cynical
11:01:19 From Dennis Parmelee : 72.5 new angel
11:19:03 From Zeek Snodgrass : if we can get some momo to the downside, there is a lot of area to cover
11:20:31 From Zeek Snodgrass : all wisdom has been ignored
11:20:41 From Zeek Snodgrass : market like a video game
11:21:01 From Zeek Snodgrass : extremely dangerous when Central Banks are driving the car
11:21:09 From Zeek Snodgrass : I am leaving soon for the day
11:22:16 From Zeek Snodgrass : yw
11:22:20 From Dennis Parmelee : ty
11:22:20 From Zeek Snodgrass : pleasure to be here
11:22:26 From Dennis Parmelee : back in a bit
11:22:38 From Dennis Parmelee : both ends of overnight can be broken today
11:45:46 From Zeek Snodgrass : dfd cya tomorrow
12:20:08 From Dennis Parmelee : direction right
12:20:25 From Dennis Parmelee : still a limited move
12:22:11 From Dennis Parmelee : 2 tics away from xxxxx
12:38:47 From Dennis Parmelee : limited opportunity
12:42:42 From Dennis Parmelee : should get lunch bounce
12:43:00 From Dennis Parmelee : using xxxx
12:43:26 From Dennis Parmelee : back in a bit
13:17:00 From Dennis Parmelee : nowhere today
13:17:16 From Dennis Parmelee : 74.5 a key fridays high
13:20:35 From Dennis Parmelee : think small
13:20:49 From Dennis Parmelee : nothing to suggest big move
13:34:36 From Dennis Parmelee : well well well
13:35:01 From Dennis Parmelee : paid by 69.25 to 67.5
13:41:30 From Dennis Parmelee : xxxxxxx
13:41:47 From Dennis Parmelee : now use xxxxx
13:42:00 From Dennis Parmelee :xxxxx
13:42:10 From Dennis Parmelee : and still 62 support
14:15:34 From Dennis Parmelee : trailers paid by 36.5
14:15:40 From Dennis Parmelee : 66.5
14:15:46 From Dennis Parmelee : typo
14:16:10 From Dennis Parmelee : 67.5 is best as xxxx
14:21:34 From Dennis Parmelee : manage
14:25:28 From Dennis Parmelee : say yeeehaa
14:30:16 From Dennis Parmelee : ok gone for awhile
14:30:31 From Dennis Parmelee : picking up grandkids
14:30:48 From Dennis Parmelee : any more short side is gift
14:30:52 From Dennis Parmelee : T2 66.75
14:31:04 From Dennis Parmelee : friday low rth 66
14:31:12 From Dennis Parmelee : rain 66.5
15:09:17 From Dennis Parmelee : rain line hit
15:10:07 From Dennis Parmelee : 66.5 hit like a heat seeking missile
15:14:18 From Dennis Parmelee : zeek 8:15] 67.5 Fri angel is support till broken
15:15:34 From Dennis Parmelee : beautiful example of back and fil ltoday
15:16:15 From Dennis Parmelee : 1 hr to go
15:18:19 From Dennis Parmelee : dfd here
15:19:55 From Dennis Parmelee : using 62 support just head of 60.75 gap
15:20:36 From Dennis Parmelee : trashing longs today but really this is not meaningful yet
15:21:24 From Dennis Parmelee :xxxxx
15:21:44 From Dennis Parmelee : magnet is 67
15:22:33 From Dennis Parmelee : 63.75 is a double
15:32:26 From Dennis Parmelee : xxxxxx
15:32:30 From Dennis Parmelee : bye for nbow
15:36:15 From Renato : I thought down days were ilegal.
15:42:27 From Renato : thanks E, GN ALL
15:43:39 From Dennis Parmelee : roflmao
15:43:52 From Dennis Parmelee : xxxxx
15:43:55 From Dennis Parmelee : done
15:44:04 From Dennis Parmelee : now xxxxxx
16:15:49 From Dennis Parmelee : close 63, low 62