NAZ back in the Box and showing weakness. Not sure why yesterday the NAZ had some much strength after the Dip, did not have today and the Sister (Sell the Rip) is back. I would expect the lower Box range to be the buying zone. Buy the Dippers will be back. They have been hanging around for over 12 years. I will be out tomorrow and will update until 5 or 6 am CT.
Comment:
1st Trade, Look to Short to 14925. NAZ should track the Yellow TL down. Break under White TL, 1st.
Comment:
Update, 1st move went as low as 51, not 25. NAZ needs to pass diagonal TL and targeting 15009 Pivot.
Comment:
4:30 AM CT, NAZ high was 15023 and Mid Level is 14987. Stay Short under 15030, Sell stalls towards the level (15030). Later in day if NAZ gets near lower Box, look to go Long for Bounce.
Trade closed manually:
Note: I am out today. Yesterday when the NAZ was lower and would not lift until final 2 hours, that was a Long Set Up. Now we are little above yesterday close. These Long and Short set ups happen near key levels. When the Long's stall, Short and when the Short's stall, go Long. Use key levels as targets or turning points. 15000 is Mid Level of Box and we have been in the Box for days, use Top and Bottom as key levels.
Comment:
Key level 14925 did get hit and bought, quickly. Sign that buyers are there. Set Long near level with close stop. NAZ should hold in box or try and get past 15030.
Comment:
Its now or never, should bounce. Looks like Long Set Up. Just keep close stop in case.
Comment:
Stop hit, bad call. Been driving all day and peeked at market. Good news is we now have some big movement days ahead.
Comment:
Reviewing the PA today, the call Short under 15030 did hold after 4 failed attempts to pass. The 2pm ET 100 point spike, hit the 15025 level (target 1) and then upper Range Target next and then hit the Lower Range Target. The Drop & Pop sequence has been broken and we will most likely see some continued downward PA as the NAZ will test the lower end of the Box. The bounce call at 14925 did get stopped out, you should have made profit with the multiple Short under 15030 moves.