New month and upside momentum. Keep an eye on 10YN, only variable to upside.
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Key Levels, 15613 is Mid Level and 15614 are previous day's Highs. Need to stay above. Look for testing of these levels and if break below, they need to climb back above, if not look short.
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NAZ will target 15640 for a bounce back to top.
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The following will help with predicting price action. The drops create the pops. We need to see these for drops, they will come. This pop is setting up a drop.
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Another fact is that we are seeing more movement in Overnight PA, this has been relatively flat for the past 2 months.
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If you missed the 1st 30 minutes, you have not had many clean opportunities. The NAZ has been ib a 15-20 point channel since 9am. Very high ticks and no selling. Bottom of channel is 15660, NAZ may drop to Mid Level at 38 and bounce back up. Do not short, FNG1 is up 1.84%. This is new month action, hard to trade.
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One more note, VOLDQ symbol will help with up/down NAZ volume.
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Volume chart set up:
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NAZ did make the drop to mid line, should go back up.
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Today or tomorrow, 10YN is rising,
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Small sell off, this is most likely a set up for a move up. The Call that the NAZ would fall to 15640, got done to 15610. NAZ will test 15640 in overnight.
Trade closed manually
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Note regarding today: Two plays from here 1) the light volume lift (of many days), this drop may be the start of the Whipsaw that I mentioned a f ew days ago. The sell off was slow and at day end. Or 2) this is a drop that will be followed by another big move up. Hard to tell when we are in this light volume and slow motion. Be careful with Dip Buying prior to Friday.