Overnight typical Prop, continued move at open and then mid day sell off. Rarely does the NAZ carry upward movement after Open when much has been Propped in Overnight. Look to Fade any stall after first couple hours. See attached Link for near term projection of NAZ. Fade rallies and Buy dips until all 4 hit TL projections, then Short.
Comment:
Current NAZ run from recent low is 3 days, 2.85% and 400 points. Longest in a while with no significant PB and well above average. The above TL's have been reliable, yesterday Open Session did show the presence of sellers, first time in 3 days. I would think they will wait until NAZ lifts even higher before getting serious. Let it lift and get ready to short.
Trade active:
Stalling and that is all it takes, mid level is 14340 and PB Support is 14360, Fire some Shorts at this level14395.
Comment:
Will be adding Shorts and Close SL's, Looking for NAZ to Snap. Needs to test lower is due.
Comment:
Will be surprised if NAZ gets much higher from 14420 level. May need to bounce off something, buyers are thin up here. 14395 1st test.
Comment:
Hitting lower TL at 14360, Keep or TP. 30 PT Gain.
Comment:
Should retest high, Amazon is off 1%, all else is good.
Comment:
At 14370, NAZ trying Head Fake Long or Good Long, let play out .
Comment:
Head Fake now at 14250
Comment:
Mid Day sell off, could get bad at this level, I think will hold. 70 points from high.
Comment:
14346 is mid range and should hold.
Comment:
Overnight propping being exposed/tested.
Comment:
14280 is in reach, unlikely.
Comment:
Careful on close, seeing divergence.
Comment:
NAZ does have Long Liquidation formation developing, FYI.
Comment:
Note, as you can see the NAZ gets propped in Overnight and can't go any higher during Open. We are slightly above Open Price. May see drop over next day or so.
Comment:
NAZ breaks 14330, will go lower. Above will move higher.
Comment:
When NAZ was at 14331, May have held. getting slight bounce.
Comment:
Needs to pass 65
Comment:
Stalling, one more test below?
Trade closed: target reached:
Weakness.
