NAZ in narrow range and this can be viewed as Bearish after the Friday drop. Red line (TLX) is a Strong Short and Long above. Expect some propping in O/N and selling near Open or after the Open. Not much more to say, the intraday price action is key these days and the only way to really capture moves.
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Channel view
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New Box, NAZ near the Mid Level.
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12361 is a Cliff, notice prior price action
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This chart show some divergence of strength & price, then drop. The current strength is dropping while price is flat (some divergence). Drop could play out, next.
O/N rigging would actually help with the issue. Price would rise and volume/strength would not.
O/N rigging would actually help with the issue. Price would rise and volume/strength would not.
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Today's Short Shake Out example. Did not hold and NAZ dropped 100. Missed this as I went flat.
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Not trading tonight, just checked the NAZ and the undecided have it literally in the middle of Sunday to current range. Hard to trade if it won't move. See what the morning brings.
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IDS example of bad set up and good set up. The white is bad and yellow is better. The yellow arrows are what you are expecting to happen. The white set up, Stoch too high and histogram is up. The yellow is more of what you are looking for. Let's see how this plays out. Not a call, just an example (triple bottom).
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Hope you liked the above example, here is the result. NAZ could not get and maintain any real gains yesterday, had to wait until the O/N to do its propping. Same games and they WILL work. We should have just gone long at the triple bottom. I am showing some divergence with an arrow. This may not materialize as the riggers have the wheel. We are also at my top target, pay attention here, the larger short could develop should the NAZ get rejected here.
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The white is the Rigger Range of possibilities. prior to Open. At Open 1st move is drop test to any previous KL.
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Wait for retest near high, stall then Short. You may wait for 1-2 try's. Use a Stop just in case. Flip trade is bounce off 12600 and through the High, stall Short on drop.
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12640-50 is Mid Channel, use 20 or 27 IDS in O/N. Stall at high is start of a Short development. 12709 is next should Mid Channel/high break.
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New TLX and New Upper target, we are not far from Box Top. The New TLX at 12600 (Hold) could bounce the NAZ to 12709. Sideway to average Dead Zone with final 5 minute 100-150 point POP. This would get you to Box Top. These type of plays have been working all year. Today's trading goes beyond technicals, you need to have Rigger Research knowledge/experience, also.
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Usual, prop in O/N sell off near Open. Short signal near retest.
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Long at/near 12560 back up.
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12640 is target, on long.
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The O/N continues to makes things very difficult with their fake moves. Open should Pop 1st, use stop on long at 60
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Stopped on Long. NAZ may go with Deeper Short mentioned yesterday should it no break TLX 12561
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For now Riggers did their job to Prop up the Drop Offset.
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NAZ may go from point to point on my arrow. Not feeling a strong lift at all.
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12361 is KL to pass
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Bounced off Red line, play to 12361
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4 hits at 361 and no pass
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361 pass should go to 600
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sorry 12400
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NAZ got to 396
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Both Arrows hit on the Range, 261 rejected after 396 and heading back to low/red line.
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High negative ticks all day and NAZ only down 200 points, may pop some.
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12320 target , then 12450
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12284 retest must hold.
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12131 is max bottom.
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84 held and got to 17
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320 hit, needs to pass.
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Choppy small moves, not real strong bearishness.
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Can not get passed 320, getting late.
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Only 300 point day, NAZ may try and generate 100-200 more by close.
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FNG1 is off 2.70%, not good.
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If you look NAZ is basically playing the mid to lower channel.
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Arrow is Rigger move.
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There is 100 of additional move.
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Another 100 somewhere up or down.
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12360 is tough level, riggers can do it?
Trade closed manually:
Next 100 looks from Southside. Then another 100 up in final 2 minutes.
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Volume is more the negative than price action, slightest move in ticks and the price just flys. Not tradable and more like target gambling. The same will happen in O/N on way up.