Strange price action on Tuesday, watch O/N drop or pop/drop in regular session. Another U Turn at the Danger Zone (12,400) and still no seriously down O/N session (the entire Bear market). The lift just seems a bit too easy or predictable, may be a Short set up (should be). Next BTD may turn ugly. Dollar Cost Short if you feel it, may drop quickly.
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.
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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Tuesday, easy lift in Dead Zone. This trick/play is getting old and weak.
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I moved some KL's and TL's on the chart below. For those that are new, the Key Level lines (yellow on both charts) and Grey and shading on Range Bar chart (right) are targets and entries. You can go back, post after post and see that placing a entry trade at KL in opposite direction usually will set up a reliable scalp. Many of these scalps will bounce off KL, retest and then take off toward the next KL or Grey line in IDS20 (right). Last night was just another example (read comments in 2/14 Post. KL 12662 would of been a Short to 12545 with Take Profit and Reverse at 12545 after retest pop.
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Under 12600, 12520 is next target.
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12800 is Long target and 12100 is Short. NAZ under TLX (red line) is Short and above is Long. Keep in mind that the NAZ may go above and below through the day. Some of you seem to have a problem with that.
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So here we are waiting for NAZ to retest 12588 (from under) and at failure to pass we will Short. Or if you want and trust, you can place a limit order at 12588 with 20-30 point stop and let it play out. Warning, you may get stopped and the move will still happen, so do it manually. A pass is a Long until stall out. Remember that the pattern has been, O/N lower Open/Regular Session is usually higher. I am looking for old patterns to change or break down since they are becoming too common or predictable. It is getting too easy, especially during the Dead Zone.
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IDS20 KL's, 12602 is level to watch.
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12588 pass will retest 588 from above and that is final test for entry Long. A fall back on retest will tilt toward s Short. If you feel that you missed the Long, you can chase it, that is what they want you to do.
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Vertical moves are usually fake or a trap of some sort.
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Good Entry: So GE is when II notice a "Good Entry" for a Long/Short. 12588 is GE Short, many tines the NAZ will move 30-50 point away from GE only to then come back and move in predicted direction. I believe that this is the case with this vertical clean out fake move, I may be wrong and many times I am so watch both sides and KL 12588.
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NAZ back to 12588, Look Long above and Short below. GE may play out with bad retail number or wait for Open Session.
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This just sticks out "like a turd in a punch bowl" I would look Short. The "TIPB" indicator is highly technical.
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IDS100 is looking Short under 12640 and did pick up Short with Divergence from 12665.
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TIPB indicator may be on to something, NAZ back under 588 and 602.
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Warning from earlier regarding Entry and Stop hit. That is exactly what would of happened without manual entry. Scalping until break out is work and many just can not put in the time and are lazy.
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Back near Open, just feel a 1 way lower runner on the way.
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Retail sales may move market as there is No FED play for awhile. Something other than earnings, fundamentals, etc. has to move the markets. No Fed No Rally, look short and fade any lift, use wide stops. Open Drive today may be a doozy should Smart Money really start to exit. The exit would be below 12640, anything above they will let it climb and then exit. I am Flat here, scalped the moves mentioned.
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KL's are perfect today, TIPB is the clue.
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588 to 640 is range to watch, 520 is in play today. KL to KL Scalps is all we have had.
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12640 Smart Money Bailed.
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No FED No Rally, 588 is KL Short Under
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Expected Dead Zone lift that will get pushed back down. 640 is KL
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NAZ under 620 is major Short push and may take some time today, just starting.
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Push Pull is Here, Stay Short with stop above or let it go sideways.
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Watch Fake Turd moves up and look for drop. NAZ is nowhere new. The lift is expected, you Should of taken profit at/near 520 KL Call on 1st Short.
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Pop then needs to pass 588
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Here you go, you can see the Push/Pull.
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This is difficult and takes practice and skills, back later.
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Box is no trade zone if you are struggling.
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Today is most likely a rollover day with O/N selling off tonight into tomorrow. Old tricks are not working and becoming very weak. They will still try as long as FOMO/BTD is somewhat active. Squeeze for every last trade.
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Another Turd pop here. They are just cleaning all out prior to big move. This can go higher, the issue is the stability as it is getting shaky.
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Turds turn at resistance, top of No Trade Zone.
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Circle is where Short Stops are most likely placed. The idea is to clean these out and then reverse the direction. Easy Supply and a great place to go Short.
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Here Long stops are getting cleaned out from the FOMO/BTD trader. Once gone next direction, should any buying take place. A Stall is when the lift is over and the drop will happen. Lets see how this plays out.
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They consume the stops and that then turns into a Turd. These moves are fake but can fool you. Back at 640
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Now they are on the Toilet and dropping some Shares or Turds. Just having fun, you get the idea. The TIPB was from the movie Porky's, classic line and I am not being crude.
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Back Later, under/near red line is next move should the BTD/FOMO's stall out. This group will most likely keep feeding the machine.
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Watch High Ticks on this move, you can see the formation on IDS20. NAZ getting a bit gassy here, may need to hit the head. Trail the Long until it is dump time.
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Under 631 is KL Now.
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BTD/FOMO's still feeding the machine, so slow lift. The PA is extremely weak so it may just drop or float higher.
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Looks like same old pattern is in play, Lower O/N, higher Regular with Dead Zone lift (snail). Thought this would change after 14 months.
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Close Turd Long at 12660 and looking Short.
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Any low to negative ticks is the 1st clue for drop, 12631 is target.
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730
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Under 730 look short
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720 Short
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NAZ is struggling to get lower, crazy
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Needs to break 62 and 31
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62 hit or close short
Trade closed: target reached:
Flat at 12685, may try 730
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Final 10M is random.
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Not much gain, still looking lower
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12730 hit, just can't go long here
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IDS20, you can see Short and Long Finish.
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U Turns are the trade, this will or can not continue.
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The Dead Zone is usually not the dominant PA zone. Strange and mostly retail BTD or FOMO of institutions. Next stall should wipe out or provide a major retest.