Going with Range and some Key Levels (blue lines). NAZ has been attracted to the 14967 price, near now. Also, 14970 was the mid level for 7/28. With call, above upper blue line, look Long to upper Yellow Arrow target and below lower blue line, look Short to lower Yellow Arrow target. Look for NAZ to pick a diagonal trend line (white) and follow. Expect some bouncing between the two blue lines. Getting close to Month end, could get whippy. Big Drop & Pop or Pop & Drop?
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The bouncing between the lines are trade set ups. Look at like a channel, NAZ got with in 20 points of lower blue and then went up passed 14967 to with in 5 points of upper blue. Current 14984 is Mid and look for NAZ to continue to move in blue channel until one of the blue breaks. Delta chatter is building (Bearish) while Infrastructure Deal (Bullish) news is due. These will off set temporarily and I am not sure if Infrastructure will be 100% bullish to some. This is why I have such a wide Range today.
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NAZ broke blue line and hit 15079 and landed back on blue line for 2nd long, need to assume it will teats high 15079 or half way up, short below blue line to 14067. NAZ above 14067 is Long territory. This looks like 2 way day and you need to watch the Ticks. Likely NAZ gets down today or will test 14067 again.
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Testing 14079 from 14025 Blue Line.
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Rejected, couple more and then back to Yellow or Blue line.
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Watch for head fake Longs, stepping away.
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Sorry you don't have Yellow is 15050
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Hit test, should pass will target 15100 next
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Caution, NAZ is 50 points from all time high and it is Month End, tomorrow. Profit taking will or may start today and tomorrow.
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From 15084, NAZ may be targeting 10528, should 50 not hold and Mid level now is 15014
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11:12AM, NAZ at 15067 and watch under 80, looks like Short developing or strong head fake that could push up a Long, Just a note.
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5 Hits at 80 Price and no break through, Look to Short side with close stop. Stepping away until Close.
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Since 11:12AM Note, you had 2-3 Short to 15050 trades and NAZ is bouncing again. Seven Year Note auction did not go well, could get rocky. NAZ at 15050 and testing to go lower after not getting passed 80 most of the day. Good head fake territory (long). still believe risk is to down side. Seeing high negative Ticks for 1st time today, Longs from previous 3 hours could be trapped. Will know if we see acceleration to downside by close. Russell off high (.50%).
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NAZ broke below 50 and needs to get passed 43 and we should see 15014 at low end, Blue line likely. Only if we pass 43.
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1:50PM CT, 15050 is now resistance, break above cover short. can renter. 2:15 CT should see big move.
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Move from 15040 to 15055, looks mechanical, usually propping. Sometimes it works.
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NAZ did get to Blue line 15030 from 15080 and bounced back to 15050, Long at 15030 was the final trade with stop at 15030 and Long target at Day high. Let Long run or get stooped as AMAZON will report.
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Wow, Short was the correct play, After close fell to 14986, near 14967, looking bearish tomorrow, Not good for all buyers at 15080 levels. Stop hit on long no loss as stop was at buy price. 2 Way day after the close.
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Big Pop & Drop, Confirmed.