NAZ actually still in downtrend from 1/1, recent is technical bounce that may have to retest lower. New Main TLX chart (Red Lines), these are more or less price channels. The TLX price channel (Blue Lines) are slippage or rotation range around the TLX. Example: Friday when 13856 was hit (Drop/Pop), I called the 13840 as Buy Zone. Once NAZ passed TLX (after bounce off 13840, then TLX) and broke through upper Blue Line of channel it targeted 13998 TLX (I called 14014 as target). Mondays are usually Bullish, Monday is also the last day of month (sometimes Bearish). Play the range, stalling is falling and I think 1st move is higher. This week I will be out and will provide Day overviews with limited daily updates.
4HR Box Chart
4HR Box Chart
Comment:
Sunday/Monday Pre Open range of play, Upper 1st, expect drop test. Lower 1st, expect Pop test.
Comment:
Previous 100 points appears to be on light volume, expect drop.
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Under 13859 is Bearish.
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13750 is Bounce target. Range 13859 to 13750.
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If NAZ is going back up, it will most likely retest lower 1st. Shorting to or near night low is best move. Definitely should NAZ stay under 13859.
Comment:
NAZ 500 point drop did trace back 50%, not understanding the % on drop as compared to other markets (Global). No gap fill could be deeper dive as this may be head fake Pop.
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Look for Short trade if NAZ stalls under 14012 and target 13861, may see head fake Long here at 13990
Comment:
Under 14012, Decent divergence on 50RB, Short is best move for now.
Comment:
NAZ in Mid TLX Channel, Under Top stay Short and above Lower look Long
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I will be out most of day, NAZ at Mid Level of range. Drop/Pop or Pop/Drop can play out at this pointy. I would still favor drop 1st.
Comment:
14229 stopping, back to 14150, then 14013 should 150 not hold. Month end, most likely sell off by EOD. Above 229 is head fake.
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Short under day high.
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14150 hit good for 120 points, hold.
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Long Trap for Dip Buyers. May Pop back up. Take Profit.
Trade closed manually:
NAZ took Short to 14013 to Pop to TLX 14229
Comment:
IDS 20RB
Comment:
If I do not get a chance to Post tomorrow, it will may be a down (drop test) day. NAZ is stalling some and no prop tonight, will not help. NAZ needs its pre market propping if not, it usually sells of after Open.