NAZ stayed under TLX and is on the long term TL. Play the boring range and sell all lifts. No FED and no rally, no strength, no FOMO or BTD price action. Long only will bail, until next stimulus, QE, bailout, etc.
Note: For those that follow, after 3 years and nearly 500 Daily TV Post's, I will be ending the Daily Forecast & Intraday free service. I am moving to a private service that will use TradingView Charts, including my IDS Indicators. Message me if you have interest. I will continue some usual post's through the mid/end of February or until new program is ready. Thanks for following and all your support.
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Under TLX 459, air pocket to 12,100
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Wednesday was boring because of the 1 way (limited movement) run. Tomorrow may see a narrow 2-3 way day. Unless the 1 way continues since the FED is out, for now.
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O/N lift is on. Just lifted through some stubborn resistance. This is usually used to offset a drop. 12500 is like a Danger Zone or Cliff, we go over and down we go. Long only PRODUCT investment industry (their only play is Long) will do all they can to keep the NAZ away.
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Note: Followers that have been around awhile, today was the 1st push/pull day since the run started in early January. IDS10 is below and I use this on light volume or Holiday sessions. The PA is switching some and may turn to the Short side in next few days should the NAZ stall out. The O/N lift tonight is one of a few that we have seen recently. The fact that a Lift is happening after a down day (just after a big up day) is odd or would suggest the switch.
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Rigged, what did I say. Magically when the NAZ gets near the Danger Zone it has a 150 plus point runner (middle of night). This will actually work and we saw this all of 2022. Used to prop/stabilize the markets. The sell off near or after the Open is likely, not guaranteed as Joe lunch bucket will/may BTD/FOMO this (since it is up).
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Its is funny, many author's on TV go over the technical side with projections, charts and such. None ever get into how the markets work, games, characters, tricks, etc. None provide intraday (as the markets move) coverage. How can you not cover these as they are the most important and as to how things actually happen.
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U Turn in middle of night. Get use to it.
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Mentioned yesterday the Range and trade placements. Who would have thought the low of yesterday would get up to near the start or high of yesterday (never go short near bottom of range). Now the trade may be to SHORT the NAZ here or near O/N high. Too early for that trade as we have to see how the lunch buckets play out. Just keep in mind that a big short move is on the way, just as the current big long move came at yesterday low.
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Most likely 12650 and above today will go higher. 12750 will be 1st test. Place Long near 12650 with target of 12750, watch PA. Just keep in mind or trade it.
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Back later. Circle is Long upper target and stall out is Short Entry. Above thick white TL is Strong Long. Next big Short will/may happen higher. 12850-12450 is a long term S/R zone. Key is that the NAZ needs to go above O/N high (and stay) during Open session (it usually does not). With rigging in play, the odds are it will as the trend is skewed.
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IDS100, NAZ gets through this Zone and it is gone. This area has been the Open Drive range of previous 5 days. This is why the O/N bounce is stopping here.
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Current Long is 10/11th direction change in the range. No pass and that is the short. The O/N lift may be to offset Jobless Claims release?? Again, NAZ stalls out (unlikely) the Short is on. Stall out is unlikely as the Long Only investment world das no other play. They do not Short or go defensive. Products (mutual funds, ETF's) have to stay invested and are Long Only (unless inverse ETF).
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Long Scalp good for 50, Trying to get trough 12710. No GO, Go Short
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Since yesterday, it is like the NAZ barely has a pulse. O/N move is in off session and light volume. NAZ will usually retest lower levels at open during 1st 30M. The no pulse will turn to push/pull PPA and the Short is the trade. This is providing that BTD and FOMO's do not show up (unlikely). Tricky Open as you have to let each force play out.
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12680 drop pop for test to 12760
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12630 Drop, dead zone will try for 12760, Needs to pass 12720
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NAZ struggling and O/N prop is fading. Wait for push pull prior to shorting.
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above 12630 is Long for now.
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Dead Zone MAGIC, one last push.
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IDS20, Range and waiting for Break Out. Most likely lower at this point.
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Just set alerts at KL's and come back, stepping out.
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I was out, Nice Call SaneusiRsebuN Why was NAZ up in O/N? Because the NAZ was lifted to offset the Smart Money sell off. This will continue to be like a game back and forth until one side wins.
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Don't be surprised if NAZ does not close near 12520 today. Just above the Cliff and not over, O/N Prop again and the Ping Pong match continues. Back Later, Too Slow for me.
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12520 is a Buy, they will not let go over the Cliff. Watch level.
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Notice how NAZ is Flat, that is why the O/N propped.
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What ever happens NAZ will be Flat on the day.
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Try to buy near low today as O/N will prop it back up.
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U Turn Next.
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Needs to come back to 520 and bounce.
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See how Push/pull is all selling. Needs to end for Long trade.
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No Pass at 12560 going back to 520, 480, 435
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Still seeing Push/Pull
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Interesting set up here, NAZ could drop 200-300 and the Round Trip would be half offset. Double Bottom on IDS20, may hold.
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For now Long above 12500 close stop, just a try. Place stop at 12495. You get the idea, just watch and try. NAZ will have to go back to 12560 and pass. Otherwise, today has been all upside-down, Trades at KL's going other way.
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For now 520 Short is playing out, needs to reverse and may with power. This range is next big move so be careful. Need to be quick and I can't type that fast.
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Daily POC is 12680, very odd. Weekly is 12540, NAZ may pop off 12453 or above, just makes sense. Plus sideways 2.5 hours. Short off 520 is good Long got stopped for -10
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All this and NAZ & SP only off .60%. Any bounce will clean that out and that is what they want.
Trade closed manually
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push pull all day. No long trades. Shorts at KL's
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O/N may sell off tonight. Offset worked today, cliff tomorrow.
@jakslo23, stop 675, Germans slowly realizing it's still almost 10% inflation.
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@jakslo23, might be too soon (was definitely too soon with dropping longs). Scalping fever got me :D
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@jakslo23, stopped. Should've kept long and raise stop now to 640. That's what looking 2 ways, and trying to scalp does to you. And that's what your broker wants, for you to think you can outsmart the market and predict everything. Be smarter than that, and play alongside the market instead. Out for now.
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@jakslo23, I just noticed I closed my long due to feeling inner pressure to brag here about the profit (or pressure to not be the stupid guy who waited too long and got stopped). Won't share trades for some time to test if that was the case.