Range day. Look for NAZ to test Upper and Lower recent moves until break through.
Box Chart and New Lows
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100 point Range is 13050 to 12950, this is where NAZ will go in 1st 30M. Sideways until break out.
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Notice how NAZ is exactly in Mid of Overnight Range, Tough spot to initiate trade, wait until it gets near an edge and see reaction.
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Short NAZ at 13150 and under.
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13000 is target
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Stop at 13200
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Stop Hit, could be 1 way Up, highly doubt that. Will reload on Short.
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Reload under 13236, yesterday bottom 1st 30M. Close Stop.
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NAZ back in Mid Level or Nomads Land. Let Short run and trail it down. May retest up prior to further drop.
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Now testing bottom of 1st 30M, if holds will go back up.
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Short target Hit, close Short or Trail it
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Stepping away, same game plan. Prop in Overnight and Drop after Open 1st 30M. Sideways to lower most likely. May see some lift by EOD then drop near Mid Level.
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13050 and no pass is next Short.
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When I make a call at a level let it get near and go past (it usually does), when it settles back down is when you enter the trade. Like the 13050 Short got to 13075 and I am looking for it to drop under 13050 should it not move up higher. Keeps lifting no Short. I did mention the NAZ may lift prior to further drop, careful on whipsaw. Now 13145 is key level to pass, under look Short.
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13181 is next target to pass (Friday Low). No pass back to 13050, 00. NAZ may try to go most way up to 13236 and then drop or try for 13312, 68 or 13450. Just providing both sides as I have no idea as to what will actually play out.
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Careful on Short side, I have seen these No Strength days Fly Up like a Rocket. Usually and Offset to an upcoming drop.
Trade closed manually
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Stayed above low, bounce after the close.
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Overnight Long to 13253, Expect Propping tonight and through tomorrow. Dip buying and less Shorting.
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NAZ should play in Channel
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NAZ stopped at 181, going to 140 for bounce
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or 120
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There you have it, 13253. Next upper Pivot is 13425, expect NAZ to Pull Back some prior to that. THE ONLY WAY THE NAZ CAN CLIMB IS IN THE OFF HOURS. This may come all the way back in the next day or so. Do not Short just yet.