Despite Friday, the markets had a positive week. Think next move is higher as test, prior to next drop. My Thursday Post was 1 day late and for Friday. Looking at Monday, going with pop/drop. The MOP (channel prior to 100 point move) have been reliable, the circles are potential MOP's and the oval was the previous MOP that developed the drop. That is what I was suggesting in the Thursday Post, just did not have the conviction as to the MOP indication new. I many times will go counter trend against the 1 way snail NAZ (I need to work on that). I just do not fear this index. Below, failure at 908 may target 706. Regarding Rigger's (add my digs at that reference), I am connecting it to Option Houses and institutions that use. If any of you are familiar and know of some good (non retail trader) books, let me know.
Comment:
Box Update KL's are lines:
Comment:
Box 2 year, NAZ still playing in the Channel.
Comment:
Box Forecast
Comment:
1st move may be lower, when Yellow Dots are higher than White, usually the case.
Comment:
Gap Open, Mop it.
Comment:
DB at Lower TLX, above lower target. Above thick white TL is key.
Comment:
Playing the MOP, Shorting under orange line on white peaks is working IDS 27.
Comment:
Noticed this on Friday, IDS 20 is showing better lines than IDS 27. I use lower number in holiday or O/N volume. Kinda of odd here, bu showing better. The box is a view of clear signals and prior is choppy noise.
Comment:
TLX 10979 is Long above and Short below for now. O/N looking like a 80 point MOP or Channel, 35 is Mid Level, may bounce if stays above 35. Target trading, longs to target and get out, same on shorts.
Comment:
11044 is Friday low and bounce off to top MOP is likely. NAZ did fill the GAP and may retest.
Comment:
IDS 50, yellow lines are KL's from Friday, NAZ may work these on any lift.
Comment:
IDS 20, NAZ at TOP MOP, may retest Mid Level.
Comment:
White arrow shows prior Divergence on IDS 27, slight developing now, close stop on Long. Could be PB and not s Short.
Comment:
Stepping away, you can see why I think trading the MOP is more lucrative than waiting for the runners. Channel trading is highly probable/reliable. I tend to use 3-5 times normal contract size when playing. Here at top MOP (80), NAZ may whip up/down 10-15 below 80, then drop back to 35 for a test and bounce back to 80.
Comment:
One more note: Usually when Yellow Dot is above White a drop is coming and rarely the opposite is true of a decent POP. Anyway, a big move is on the way.
Comment:
Break 80, target 11136.
Comment:
Got to 30, 40 next after PB.
Comment:
Out of MOP should be 100 plus, may reset 80 during Open.
Comment:
36 hit.
Comment:
Above blue is long.
Comment:
11201 is upper target above blue.
Comment:
Long above 11020. Back to top MOP.
Comment:
Lower circle hit, look Long.
Comment:
11000 target. Should low hold.
Comment:
NAZ should test bottom of 1st 30M.
Comment:
Long above 10960 to 11000
Comment:
Pass 11000, should see 11060. Relatively tight range from Friday and O/N low. 20 points off O/N low.
Comment:
Push Pull should end passed 11000
Comment:
Push Pull over.
Comment:
11000 hit
Comment:
Drop/Pop, should rotate some and lift. Stepping away.
Comment:
Big move out of lower Circle.
Comment:
Long at 10910, will target 960. Counter moves are basically similar to Trend moves. More of a snap and can catch momentum and run after a long drop.
Comment:
If you are playing counters, use targets and stops. Watch the Ticks.
Comment:
Divergence on Long Side showing up on IDS 27. Should Snap Here.
Comment:
Ba Bingo!
Comment:
May see Pop Gaps to upside. NAZ needs to get higher in order to get lower. sounds strange but is what it is.
Comment:
NAZ PA will get confusing here, think upside down or reverse. Will try for a rally some.
Comment:
Target 60 Hit. This should be 1 way Runner. Trail it as many will hop on late.
Comment:
This is some beyond basic trading and a good example for you to remember, BLOCK the noise.
Comment:
Big Gaps should continue as the Shorts cover and BTD's step in. Could be a Pop test so trail it.
Comment:
White arrow is Long Call, 11201 is 1st target, then 11289.
Comment:
NAZ can't get passed mid of original MOP.
Comment:
Trade closed manually:
Will do in O/N
Comment:
Hopefully you took profit neat 44.
Comment:
Playing counter moves produced more points than NAZ decline. Soon the selling will give way.
Comment:
Today you will notice the Play TL's in opposite direction was once again reliable. KL now is red TLX at 10979. 908 did bounce to 043.
Comment:
O/N Bullish Divergence (potentially), never know with O/N. 9:15PM CT