NAZ at lower end of The Box. Sunday's Post mentioned the Chatter factor and 16,100 being support, since final 30 minutes of yesterday close to 5AM CT the NAZ has dropped 200 points. I think that this level will be defended against the downside. Lower Fib level at 15,828 and support, could be extreme lower target. Current KL Upper 16173 / 159960 Lower.
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The Box:
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Lower KL is low or 15960, current bounce will slow at 16040 and may Pull Back to test 15980 level, holds at 15980, go long.
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15880 is PB support
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Add Lobg above 15880.
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Target 15640
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NAZ 50 from Red TLX
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Look Long above TLX.
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Support DB
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Should see bounce here
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Need wide stops on days like today.
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Drop & Pop, NAZ turning Up.
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NAZ back in Box will see a run.
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On Longs you should be taking profit and reloading on drops. Watch the Ticks for exit & entry.
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Slow turn, should be much worse.
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Long at above 40, trying to fake out.
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NAZ hot SP2 pivot. May see pop here and run. 15840 and Fib Level at 30. If not 15720 is next leg lower. DJ and RTY holding at small loss. Much worse is 15720.
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EU close is pushing NAZ lower.
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Adding Long here at 15795, aggressive Do Not Follow if you do not have profit.
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Long target 15880
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Adding to Long on way down.
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Should see Pop here.
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Strong Long above 15845.
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One more PB and should see bounce.
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75 Bounce adding 3rd at 75
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12-7 Prop Overnight "Air Pocket" is cleaned out, Go Long. This explains the Prop, connect the dots. Stops at 15700, will let these ride for 100 or so.
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Dropping 2 Longs 95 and 75 Buy, keeping 40.
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55 and 35 or 90 point gain.
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NAZ rejected at Diag TL.
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40 Stop at Break even, will look to add on Dips.
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Cumulative Delta (Volume) turned positive at 15760, should stay positive for balance. May see PB to 15810
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Closing 3rd at 78
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May see PB here.
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Run from 15760 had 3 Legs with some weakness showing up, may see some selling at close. SP and RTY still off. Caution here if you are Long, may be nothing.
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NAZ may get rejected at Box Bottom. Decent bounce.
Trade closed manually:
Bottom of Box, near hit. May see a retest lower prior to further lift. Overnight Prop machine will most likely confuse things with some lifting prior to Open. Weakness did generate a 90 point drop in final 25 minutes, not good for those thinking Long. NAZ in Mid Zone and less reliable plays here, play established S/R levels from here.
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12-15, May not Post Today, Fed Day and usually unpredictable. Use Combo II Post as bigger picture chart. TLX bounce may be retested and many are seriously bearish with Tech and the NAZ 100 Index. Careful on dip buying.
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Today may be high. Seeing cumulative and Ticks slowing and declining. The hedge funds and managers that have been selling Tech got it wrong or this is just a Pop to fade, over next days. We may see selling resuming at these levels if they want to sell more at higher prices. Smart money got this wrong, very unusual and may be temporary.
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Near Top of Box, TLX did hold.