TLX test below., then Box Top. Just not feeling any strength with most recent 10% move of the NAZ . Could be wrong, going with the highly technical "gut feeling" indicator. Definition of "gut feeling" is typically a strong feeling of BS or opposite of the crowd. Have had Covid this week (speaking of BS, like medium typical cold), if I am wrong I will blame that and regroup Monday. Maybe the offset with Covid was the Vaccine shot (like QE or stimulus)? The Invisible hand Variant from 200 years ago?
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10% in 9 days, majority of move is more like 3 and YEP the O/N did have much to do with the move. Box Top retest is likely at a minimum prior to any significant move higher or strong buy in from Smart Money.
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Yesterday had lowest volume since 7/26, feel a higher volume of selling (sell test) will be thrown at the NAZ today.
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May16th Walmart was the 1st real warning of slowing and dropped 20% overnight. Since came back 12% and is now just 6% up off low. BTW, 25% climb is needed to erase a 20% drop. Does it make sense that a stock or index will have more power after a drop (25% vs 20%)? It has been almost 3 months and Walmart is not even close to recovering. Target is another, Tech may be different but by how much when it come to slowing growth?
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Downside KL's going back 2 days. Use these as Targets/reversals on drop, NAZ will most likely test lower today.
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Do not be early today with shorting the NAZ, let the NFP and Unemployment play out. After Open and at Stall, look to Short into weekend as many may take profit (China, 10% run up, etc.).
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Short Signal on IDS, targeting 311.
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Walking down the stairs, playing it like a FIDDLE. Expect a retrace and then pull back.
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White is close and Long. Scalp from low to 13200, up/down
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TLX Target hit, watch Red Lines Lower over next few days. Doubt that this turns positive today.
Trade closed: target reached:
Past 9 days have been confusing to the Bulls and Bear. Fed appears to be also confused, misleading or unqualified. The 1 hour pre Open to 1 hour after Open is the best time to trade and my calls are based within that time period (unless otherwise stated). After that, the Dead Zone is a wildcard and expect backwards moves (just like today). 13214 is being tested (and yesterday bottom 1st 30M) for next direction now. Since this is DZ, not much weight is considered, plus Friday, plus decent 9 day run. Know you time of day when trading and expect strange moves. Opens and closes are the most important. Good for balance, will be Covid free by Monday.
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DiMark 9 and Outside Day Reversal, Combo Punch. Plus China and Friday, what do you think? Probably BTD, OK. Go For It and do it in the DZ. Anyway 13100 is next KL Test.
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Yesterday post stated that the market would get confused with good/bad news or bad/good news strategy and this did trip up the NAZ. What else do you need? Pull the trigger and do not point the finger. Short this NAZ at rallies (with stop) today and you are OK.
IDS Update, not accurate at all. 13000? why not, 2 possible trades. NAZ should Pop prior to next drop, although selling is strong today.
IDS Update, not accurate at all. 13000? why not, 2 possible trades. NAZ should Pop prior to next drop, although selling is strong today.
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Another key fact/call, this is the Sell Test that I warned about, 9 hours ago. All these pieces should help with predictions or calls. This may pop and that is fine as it adds to trading. People get hung up on being correct all the time. IDS target trading is very active and not for everyone. Your trade window is 20-30 minutes then expect turns. This is too much for most to comprehend. Get in the FLOW. NAZ heading to 183 test next, trade it or fade it. Pass then 214, get the flow. Stall after all that? (yes or no), then 13000. Let's see. Problem is that you are now in SLOW DZ with Friday volume, many times the inch worm float is the only play.
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Last note, going back to sleep: Notice the battle with strong selling (less time, bigger moves) vs weak lifts. This lift will be consistent, especially during DZ, O/N and any off-hours. Now that the sign of strong selling did show up today, the downside is back in play and needs to be considered.
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NAZ took thr White Arrow form Chart above. Now under 17 is key.
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under 127, not 17
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185 -95 has been strong resistance. NAZ may get rejected here. Long with Stop or Long and reverse. 1 will work and 1 will not, PULL YOUR Trigger on the close.
Long Head Fake or reverse to Short. Just got off the pillow, spontaneous gut call.
Long Head Fake or reverse to Short. Just got off the pillow, spontaneous gut call.
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NAZ is primarily a 1 way Robot, today was choppy but primarily lower. Sop at 210 on last trade.
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Lower stop to 185
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No loss stop at 185, NAZ no moving during final 30 minutes after decent down day is another odd event. Chase if you want, pick a direction. Strange thing is, it may not actually move until SUNDAY.
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Today is a draw between Sellers & Buyers. Buyers have the upper hand going into the A/H and Sunday into Monday Open Prop Zone. Recession definition and good/bad news or bad/good may shake things up more next week. Looks like BTD still has legs.