The overnight sleight of hand likely confused many traders with the plunge. Our #EMWS rules kept us suspecting the low was already in and it was more likely that we would continue the Bounce to test the low eighties.
Ahh, the low 80’s, how nice that would be.
Back in CT, and those beautiful Naples temperatures already just a dim memory as the harsh November winds and minimal sun left me shiverring in temperatures just half that during my walk.
Wind chill added to the pain.
Next assault on 2600 coming up this week in thin volume and Games the Boyz like to play.
Turduckin coming up.
zOOm
09:16:14 From Dennis Parmelee : good morning
09:16:32 From Dennis Parmelee : evidently support found last night
09:26:06 From Zeek Snodgrass : flurries here, better escape why you can E
09:28:40 From Zeek Snodgrass : Normally half gap and gap are first play, odds change on RDD up and Holiday trading
09:29:58 From Dennis Parmelee : 2 way day but bias is think bulls in control above 72
09:30:13 From Dennis Parmelee : xx first
09:30:24 From Dennis Parmelee : shorts hit and run
09:32:24 From Dennis Parmelee : 77.75 half gap
09:35:10 From Zeek Snodgrass : halg gap hit so not RDD
09:41:13 From Zeek Snodgrass : LEI at 10am
09:41:18 From Dennis Parmelee : i think today’s open is designed to confuse as many traders as possible
09:41:34 From Dennis Parmelee : catch agg shorts and late longs
09:41:58 From Zeek Snodgrass : 80.75 Fri rth open one tick away
09:42:02 From Zeek Snodgrass : tick
09:42:08 From Zeek Snodgrass : above could be short stops
09:43:01 From Dennis Parmelee : 80.38 friday mid
09:43:10 From Dennis Parmelee : symmetry
09:44:54 From Zeek Snodgrass : boys may stop agg longs and tehn turn the ship around
09:44:57 From Zeek Snodgrass : xx lwm
09:48:13 From Dennis Parmelee : 72.75 xx
10:01:58 From Zeek Snodgrass : next touch of 77 is 3x
10:12:39 From Dennis Parmelee :xxx
10:19:39 From Zeek Snodgrass : 80.25 pg xxx
10:25:41 From Zeek Snodgrass : 83.25 rth hi from Fri and 84.75 is gap fill
10:25:51 From Zeek Snodgrass : 88.25 is Thurs demon and baout 11 form rth low
10:26:00 From Zeek Snodgrass : about
10:26:57 From Zeek Snodgrass : more like Hangman’s noose
10:34:35 From Zeek Snodgrass : shorts have been hunted and stopped out in just about every stock
10:34:56 From Zeek Snodgrass : watch TSLA as leading indicator of what happens after most of the shorts are gone
10:35:13 From Zeek Snodgrass : I think xxxmay be it or the upside
10:35:51 From Harvey : I shorted there at 2575
10:36:26 From Harvey : and got out quick
10:43:11 From wei : can you show charts with xxx
10:46:34 From wei : thx
10:52:11 From Dennis Parmelee : this is squeeze type trade
10:52:43 From Dennis Parmelee : above 82 good fortune
10:58:23 From Dennis Parmelee : i think longs willing to manage can ride a trailer maybe aother 15 mins to 30 mins
10:58:39 From Dennis Parmelee : but dont give it back
10:58:58 From Dennis Parmelee : meaning dont risk 4 points to make 2 more
11:06:45 From Zeek Snodgrass : bbl
11:08:42 From wei : good point
11:21:02 From Dennis Parmelee : V bounce
11:21:34 From Dennis Parmelee : risk reward should come in near friday’s rth high
11:21:40 From Dennis Parmelee : 83.25
11:37:36 From Dennis Parmelee : back in a bit
11:37:45 From Dennis Parmelee : xx
11:38:00 From Dennis Parmelee : xxxx
11:38:05 From Dennis Parmelee : xxx
12:14:48 From Zeek Snodgrass : so far we are inside Friday’s rth range. this may change before teh 2pm afternoon start
12:45:26 From Dennis Parmelee : exactly right Zeek
12:45:37 From Dennis Parmelee : and this was the premise
12:46:02 From Dennis Parmelee : trade Friday’s awful range first as rth inside day
12:55:33 From Dennis Parmelee : 120 chart
12:57:52 From Dennis Parmelee : squeezer is all
13:33:42 From Dennis Parmelee : 83.5 hit
13:33:48 From Dennis Parmelee : double top
13:40:36 From Dennis Parmelee : friday rth high 83.25
13:40:47 From Dennis Parmelee : and this is wac a mole
13:44:08 From Dennis Parmelee : afternoon session may give a bit more hope to the shorts
13:44:41 From Dennis Parmelee : brb
13:45:07 From Dennis Parmelee : this has been 1 way bounce
13:45:36 From Dennis Parmelee : no rotation short has produced evidence big boyz wanted a short
14:28:00 From Zeek Snodgrass : xx very important today
14:29:01 From bc : xx rule?
14:29:59 From bc : yes
14:34:57 From Dennis Parmelee : 79.75 is stop for longs for gap 85
14:35:20 From Dennis Parmelee : risk reward says take what u can and manage
14:37:08 From Dennis Parmelee : the market rebound today in soft style says dont think of this as anything more than a squeeze
14:38:04 From wei : don’t think?
14:39:51 From Zeek Snodgrass : dfd
14:40:09 From Zeek Snodgrass : yw
14:40:20 From Zeek Snodgrass : I may bring my pillow tomorrow
14:40:40 From Zeek Snodgrass : thank you
14:43:49 From Dennis Parmelee : stop eaters
14:43:55 From Dennis Parmelee : in wac a mole
14:44:57 From Dennis Parmelee : by od probably 68/78/88
14:45:14 From Dennis Parmelee : eod
14:45:44 From Dennis Parmelee : tommorrow normal
14:45:57 From Dennis Parmelee : weds maybe abort afternoon session
14:46:06 From Dennis Parmelee : closed thurs
14:46:14 From Dennis Parmelee : friday morning IB
15:10:10 From wei : is this decending triangle?
15:16:59 From Dennis Parmelee : wei I think this is profit taking
15:17:08 From wei : thx
15:17:24 From Dennis Parmelee : yes descending triangle POSSIBLE
15:17:31 From Dennis Parmelee : not enough info yet
15:27:59 From Dennis Parmelee : 80.5 is the gcf
15:28:10 From Dennis Parmelee : so this mini pullback makes sense
15:28:40 From Dennis Parmelee : now the 10 min chart in play
15:28:48 From Dennis Parmelee : then 15
15:37:47 From Dennis Parmelee : if short pfs by 80 to 79.75
15:41:10 From Dennis Parmelee : low in for day
15:41:15 From Dennis Parmelee : high may be
15:41:26 From Dennis Parmelee : 75% chance it is
15:50:11 From Dennis Parmelee : predictive chart got the low
15:50:25 From Dennis Parmelee : based on adjusted low
15:53:01 From Dennis Parmelee : 7 point range rth
15:53:07 From Dennis Parmelee : 2 days in a row
16:02:02 From bc : Thanks Dennis – maybe tomorrow a little more action we hope 🙂
16:03:42 From Dennis Parmelee : i hope so
16:06:30 From Evan’s iPhone : thanks E and all!
16:15:19 From Dennis Parmelee : u bet Evan
16:15:24 From Dennis Parmelee : good night al
16:15:31 From Dennis Parmelee : its cold here
16:15:38 From Dennis Parmelee : not a happy camper
16:15:45 From Dennis Parmelee : soup for lunch
16:16:01 From Dennis Parmelee : last friday salad
16:16:03 From Dennis Parmelee : lol
Videos
Today’s videos for DT4$3
Thank You
@AustinPage08 @LongTplexTrader @pipsnticks @Shemesht @ObjexinMirror @abydnave @ceres_7 @PivotBoss @MrTopStep @SunriseTrader @MarzBonfire @clayidus @RenaTrader @PatrickGrattan @TeamDayTrader @chigrl @IHBDSB @BrentRShlton @90IP6 @isvibilsky @Tradn500 @RickRoe1 @WatermanLXXIII @ES_F__NQ_F @BamaTrader @asoup322 @BEFREEinFL thanks to all much appreciated
Slack
—– Yesterday November 19th, 2017 —–
eminiwizard [9:47 PM] hi all https://content.screencast.com/users/EMWS/folders/Jing/media/88fdc87b-6710-4598-b92e-c8cc0da09c77/2017-11-19_2145.png (42 kB)
[9:48] TMM let’s assume xxx
[9:50] “we are closer to a sell at 85 then a buy”
[9:51] remiinder xxxmodel
[9:51] see u in the morning
harvey [9:51 PM] much appreciated E :+1:
harvey [9:51 PM] thank you
eminiwizard
[9:51 PM] hey harvey
[9:51] will update ss
[9:52] just had dinner
harvey [9:52 PM] Super, I’m following along and learning lots
[9:54] the system is becoming part of my neurology now, I’m a slow learner but your great teaching and persistence is getting me there :grinning:
eminiwizard [9:54 PM] awesome
[9:55] gcf is xx
[9:55] xx
[9:55] pg late
[9:56] xxxx
9:56] 72.5 xx
[9:56] this happens a lot
[9:56] retest xxx
[9:57] regression trade type idea
[9:57] mm 78.25 is pivot
[9:58] down column[10:00] driver is 85.5 from friday
[10:00] xxx
[10:00] keep it simple
[10:01] 68 bottom of last week’s pipe
[10:01] good night[10:04] https://content.screencast.com/users/EMWS/folders/Jing/media/74807a70-4715-4509-be01-fa787104873a/2017-11-19_2203.png (55 kB)
[10:04] xxs range
—– Today November 20th, 2017 —–
eminiwizard [7:05 AM] https://content.screencast.com/users/EMWS/folders/Jing/media/05a4a705-cf7c-4550-bcca-f3b37bb0e130/2017-11-20_0659.png (40 kB)
Zeek Snodgrass [8:24 AM] gm
[8:25] holiday rally started off last night’s lows[8:25] Friday was consolidation inside day
[8:26] 2586 isxx
[8:27] We could see move above xxxx
[8:27] without negative news, the trend is up
[8:28] 86 is also Fri globex high
[8:28] 84.75 is open gap fill from friday
[8:28] 80.75 is Fri rth open. can we get there before the open?
[8:31] Happy Thanks Giving to everyone, lets eat, drink and shop
[8:32] EU wants to away with bank deposit insurance, this has to be good for gold
[8:33] bitcoin will get hacked and it will cause chaos
[8:33] bbi 20
eminiwizard
[8:41 AM] good morning and brrrrr
[8:44] using 80.5 as current resistance premarket[8:46] paid for sure by 80.5
[8:46] if shorting try 79/82 zone
eminiwizard
[8:52 AM] market has reversed from Thursday high
[8:52] to overnight low
[8:53] so letsxxx
8:53] xxx
[8:53] xxx
Zeek Snodgrass [9:02 AM] back
eminiwizard
[9:11 AM] https://zoom.us/j/106356851 zoom
harvey [9:11 AM] great commentary and insight guys
