Wimpy start to new Month, look for NAZ to get some extra help in Overnight. Then pre/near Open, we should see a sell off or Drop Test. Some TLX's Red lines (targets and turning points). Should see another Box Top test below. Long tonight and Short tomorrow.
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NAZ NOT getting propped up in Overnight, things can get ugly tomorrow! This rarely happens, need to see if it accelerates. I have mentioned many times that this 7 month Bear had ZERO limit down O/N Sessions. Bigger reaction to recent Big Pop Action would check off a box and be good for the Bull. We need serious flush out that bounces hard, more Open Session runs and less O/N.
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Out sick so limited updates. I would not be in a hurry to counter trend the NAZ. Need to see if it will be 1 way day or continue dropping. The NAZ generates 400 points a day (intraday moves) give or take 100 points. The tough days are when we do noy just follow these 400 point 1 way days and try and counter. IDS 50 will be more reliable, less noise.
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12895 is Mid Level, retrace to level is what to watch and then reaction.
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NAZ near ML, needs to pass and retest from above for Long. No pass, will retest low.
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12885, you could Short with Stop 5 or 10 points back. Chart from a few days ago below. Be prepared to get stopped out as NAZ will wiggle and clean out stop prior to drop. Mid Level trades are the worst, FYI.
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On previous trade, this is a 20 point Scalp. Do not hold. May go to 12820.
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Chart below is the original Short, retest from under the after Open Retest from Above this is current Long. May drop under level. You can see the flow.
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The riggers are just whipping the NAZ around, Do the opposite of what you think. This will most likely come back down. TLX 13003 may be high. Sideways and Mop up prior to Drop.
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Short Flip watch 880
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12880 testing, No Strength NAZ back to 1 way should appear.
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No Prop NAZ in O/N, fade it 95% of the time at highest point possible after Open Drive. Mop up should continue prior to deeper drop. This could be a Head Fake, need to watch Ticks.
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12851 will be hit, Open movement was designed to confuse you. Look Short and watch Ticks. Stepping away.
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12851 Hit and test from Under and Above, Need to let play out. Float Mop then back under most likely.
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Today is Lower High and Lower Low, this cna be significant as a turning point should it hold.
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The opposite of what you think, mentioned it earlier. Just trading games, moving the price inside the range.
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Shorting 5 under 13025 0r near. Three 30 M candle and fade, just like yesterday. stop at 13035. NAZ hit TLX and rejected.
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NAZ has produced over 400 points so far, the next 100 or so will be done in easiest way or most likely down.
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This is an impressive stabilization of the NAZ, most likely a drop off set to what may come at of China? Short is on at 13020, stop at 13045. Just not buying it.
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Stop hit at 45 -100
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Covid is effecting reality or something, strange day. IDS did show Long.
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TLX's are reliable today. May Short again under 13094
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Easier next 100 was higher and not lower, see opposite. These Dead Zone daily lifts/rallies are too easy. Pretty sure this comes back down. Notice that the NAZ high is just under yesterday high.
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Almost looks like capitulation top. Too much whip, no direction
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Like I said, Prop offset was earlier curveball lift. NAZ just dropped 180 points on news about China. So predictable it is actually too easy. Games games games.
Trade closed manually
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This is IDS 27 with less indicators. One approach would be to use 3-5 Micro NQ's and play every move. The Yellow Short line is reliable and play with it. The 180 point, I noted it as I felt the float up was a set up or offset. Ddi not take it, I have the Covid and no energy.