NAZ may just drop to see if anything will hold. Sell any rallies that stall out. Buy only after 2-3 tests at support levels. These indexes are not down much YTD and could easily double the decline from current levels. I do not think that the Prop Pro's will let that happen, I would of by now as it has been 6 months. In Overnight, go with usual and expected "prop session", near Open take your profit. Let the 1st move play out and expect a head fake.
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Out of Box Bottom may target the Yellow Lines below:
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Bottom hold will target 12326.
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You see my upper call from a few weeks ago. Still may happen. NAZ may bounce off lower channel (current position). Long here should NAZ hold after a few retests. Open will be an additional test. Look for Long (not now).
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11488 is a Key Level to watch today. NAZ has bounced off a few times. Out for most of morning.
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11500 and above try a Long here.
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NQ1 and NQM have 20m point have a 20 point differential.
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On Long close at 11600
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Long Stopped. NAZ out of Channel.
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Expect a Big Bounce today, NAZ down 8% in past 2 days. 11700 or 11800 as target.
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Long NQ1 at 11400
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Long good for 150 points. Back down for retest.
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Go Long into close. Above 11400 NQ1
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Stay Long, NAZ will float Higher in Overnight. You should have a few hundred points to play with.
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Traders, best trade was mid day Long and easy move. The short back down was not called but expected. The Short from Open or overnight would of been good but erased if you did not take profit and switch to Long. NAZ have gone nowhere from that perspective, just get the points. Next big move is to upside. No saying that is trend, just next bigger move. Then Short at stall.
Trade closed manually:
Stay Long Overnight, close at stall.
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Use the TL as guide, Long above after retest.
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Consolidation base
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Update on Pre Open Chart. NAZ did land on Yellow Line. This is a support level, for a bounce.