NAZ under 15400 will see an additional test lower. NAZ should stay between upper and lower TL X's (red lines). Yesterday's call of Drop, Pop (failure) Drop has played out. Today we could see: Drop, No Pop. The most surprising PA is with the fact that the Overnight Session is struggling to keep NAZ propped up, this a very bad sign. As I have mentioned, (recently) most of the gains of NAZ come from Overnight and not the Open. Which is why I feel we may see the Drop, No Pop today. Chart: All 4, may come off upper channel and move to mid (as near ATH).
Comment:
15356, NAZ at top of Overnight Range, while other 3 are at Lower. NAZ may drop here toward Mid or lower range.
Comment:
NAZ now at 15340 and may bounce at 35, if not back to low.
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NAZ is not getting passed 70, Short under and Long above, until Open. Near 70 no pass, Short. Near 70 and pass (w confirm) Long. Finds support under, Long to 70. Now may be one of those, should 35 hold.
Comment:
NAZ just stalled at 70 approach, got to 52. Acting up now at 35, may hold. look to for movement Int Jobless due at 7:30 CT.
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Long at 15325, Tight Stop.
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Target 70
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NAZ may climb some from 30 level to 70, Open will have up/down until NAZ finds direction. Long here as opposed to Short is better play. Plus 10YN is at its low of day.
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Should Jobless be decent, NAZ may break 70 and stay above. 25 Long could be decent hold. NAZ has supported by 300 level.
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Under 400, selling may come in here. 10YN is dropping.
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Red Tl X are reliable. Turning point.
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NAZ climbing on Neg Ticks, good strength so far.
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70 may be tested.
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100 point run from buy in, look to close at stall.
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TL X Hit and some selling showing up.
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PB 1 00 and 2 70. Hang in, Ticks are still now positive.
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Still narrow day, could easily see drop by EOD. Stepping away.
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45 is yesterday high, this move makes no sense, enjoy. 10YN is low, lowest in months. Short covering? Could be nice short set up, we will see. Just feel something counter is on its way, today or next few days.
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Could be, Inst now distributing (selling to retail after buying at lower prices, last few days). Only to accumulate again on drop as retails sell from higher prices.
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Look to Short if you are brave, use profit for stop. Decent R/R. Ticks are very Neg High. Have some fun, you may give back some or be ahead of next move.
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under 10 is strong short, watch for head fake.
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They are trying to pull the accum/dist on the move. Watch this drop. Under day high is short should 10 bounce.
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Bounced at 11. Will go up down until break through. Hang tight 10 YN is lifting.
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Should be it as others are negative.
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And it is totally legal. This should accelerate. Ticks should help with gaging speed.
Comment:
Dip buying not Rec, today. Sell rallies. Long only above 33.
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In between zone 00 and 45, sideways and needs to break out. May see just big drop later, long side until or close out. If short at 10 use wide stop or close. You should be net positive. Again, dip buying may be a set up. Now Ticks are high positive and this can be prior to reverse, just hard to say and whipsaw will clean you out.
Comment:
NAZ is riding Red TL X. Today's PA does not match that of what it should. 10YN Yield is rising, Ticks are low, 3 other majors are down and NAZ ran way past where I thought it would. Why the NAZ is staying up is a puzzle. Hard to go Long or Short, let it play out. Most likely it is a game being played and NAZ will drop or jump big. Just hard to lay into any trade here.
Comment:
ATH is while line on top of chart, it may just hit that. This move is going against what most people I know have called. Just shows you, at least we rode for most of (if not all) the ride.
Trade closed manually:
NAZ jumped 40 points from time of last comment. Felt something about to happen. Good for you if you stayed in. Lets see the close.
Comment:
YEP, NAZ gives back 50 points or half of day gains in 15 minutes after the close. Get ready to go Short tonight/tomorrow. Games are being played.
Comment:
MR Retail is just crushed (NAZ now gives back most of gains), this why we trade. We will do it all over tomorrow.