NAZ Range, 12342 Long above and Short below. May see slight drop test near or after Open. NAZ has passed long term channel Mid Line (chart below). Currently at Baseline inside Box. White arrows are 8/10 targets or projections. 12133 will most likely need to be tested prior to move higher.
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YTD Box Chart
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Today, look for NAZ to go 1 way from 12342. At Price, 1 way Long above to upper target and opposite for lower. A little surprised NAZ did not get propped much more to this point, that is very surprising and I thought it would be at 12400 - 40 level by now or pre Open.
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12342 Short is on.
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Closing Short. 12285
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Will Float, Stall and Drop.
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Bounce at 257
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Slow Turn to Lower.
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Look at 342 for 2nd Short.
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Shorting again at 325
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Stop at 355
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257 is target on Short.
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Stop hit but not a problem.
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Shorting at 12440 or near
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Target 350
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12440 Short may take some time to play out. Stop at 255. Let this go and do not chance or reshort.
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Stop hit, just sit back. I would not go Long at this level.
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Update
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1 more time with Short at 12470
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Target 414
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Stop at 12505
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IDS, early entry on Short.
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Stopped and Back on at 12510
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NAZ way extended VS others
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Most times when you see a Vertical Line after 800-1000 points, the NAZ will drop some.
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Short good for 100, will hold it some and trail down.
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Baseline is Equilibrium since run. NAZ will move to area at some point.
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12481 is next test, re Short at no pass after test from below. Stepping away.
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FYI, 352 is target on next drop.
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Looking like another Long Trap. This one could be a runner, trail it lower.
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White arrow on right side, these can be deadly. Can go either way so play it close on stop short.
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12352 top 1st 30M test, take profit target and reload short should NAZ go lower. NAZ did get to 12357
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You can see next half hook here or not, will run back up.
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Shorting 5 at 12445
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Stop at 485
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Should drop here at 60
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stop hit
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12485 5 Short
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Stop at 12495
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NAZ will snap, giving up gains so far.
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Hit, back on at 12500
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Stop at 12510
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Will Hold this one.
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M on 30M, should drop.
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Stop at 12500
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No Strength here, not real good for next day or so.
Trade closed manually:
Out plus 30 x 5
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12360 will be tested tonight. No hold then 260.
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Counter Trend calls, The chart below will show what I am doing or why when I go "counter trend". The upper yellow lines have divergence with PRICE and lower yellow lines. This usually leads to a drop or rise. Look for on IDS or any chart.
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NAZ will have struggle at 12585, more sellers than buyers at price. May need to drop some to get bounce through. 12000 or 200 may do it.