This is getting easy, very predictable. Blue arrow is Overnight Prop, White is Long play and Yellow is Short. The pattern has been blue to yellow. I think Monday we see blue to white, new month and Mondays tend to be bullish. The NAZ hit YTD low 3 times, may also be reason for a bounce. You know the Prop Magic is coming out Sunday/Monday, blue arrow trade and wait for next move. "Buy in May" is here, this has been the pattern for over 10 years. View attached 3-27-22 post. The "Sell in May" (original version) was changed to "Buy in May" when QE was added. With QE ending we may see the the sell in May back. I would not count on that prior to actually seeing it. Look to the Long side through any lower volume months, periods or Holidays. The Overnight Prop trade has been extremely reliable this year, this may continue through spring/summer months as we approach October.
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The idea for Monday is a Prop Offset to cover any further drops. Wed and Friday are key info days, these days can move the market. Expect Bad is Good and Good is good when it comes to any reasoning for a lift. After 4 months, this is as low as the NAZ has gone. The NAZ will try some Pop Tests to see if buyers come in, I believe they will. Once these Pops stall it will drop back and we may see 2 way action until a new further low.
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12840 and up, they will short from above and not current. Wouldn't you.
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5:30 AM CT, EU markets lower, may see lift in US after EU Close should this persist. NAZ near Mid Level of Overnight Range, normal and not strength. No clear trade, channel is 100 points 860 - 960.
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Watch Yellow Arrow range and 2 Orange TL's. Volume on right shows very little buying (blue), Drop/Pop likely, failure then drop.
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Expect Bounce at 12740 or lower 12640 should 740 not hold.
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I am having serious data feed issues today, anyway the Short from above is the play. Should the NAZ stay in the Overnight Range, It will float higher after EU Close. Play Top/Bottom 1st 30M until break out/Hold/Bounce
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Terrible day, 12870 is only support, No Real Direction today. May want to let this one go.
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Love to Short but just too much Chop.
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12944 seems to be limit up (old YTD low), Long above and Short below. Will keep retesting, may pop through since tight range.
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No Pass at 1840 may see big move lower.
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2nd stop at 840
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740 is a Long, if not going to 640
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740 Long was only Long Trade I saw today. No really a Short day, choppy all the lower.
Trade closed manually
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Look Long in Overnight and next day. Today was a weak drop, looked like mopping up sellers and stops. Usually they do this to accumulate positions to go higher. Not a real strong move up, may be a test run.
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Overnight Prop has started, if picks up strength it will be most of tomorrows gain. This will be a sign of next potential rally if it is on its way. We have not seen this fior awhile. Today was a wash day. The late day bounce offset the earlier decline, this is also a change in pattern.
we guys keep looking for long and it been selling since month ago and keep selling selling making new lows ...
AAHErbil
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Seems to be hitting 13100 overnight then down to 13,000 intra day and closing at 13300? Benchmarking for Wednesday Fed talk?
AAHErbil
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Seems to be long, I guess it will hit 13100 till LSE / EU market opens? then drop down to 12900 and potentially 13,300 tomorrow?
azizlimiteds
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Hi maz what you suggest for the overnight ?? It looks to me like it will long in overnight and short after and break the lows .. what do you suggest you are the best..
AAHErbil
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@MAZing - seems that you were right, it bounced back just at time EU marked closed. You think it is time to short?