NAZ on the Edge or Cliff. No Fed No Rally continues. Out of the Box below and South we go. Still inside weekly Box.
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IDS100, NAZ in the Air Pocket to 12,100
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I have added many new followers in the past 2 weeks. You may want to view Post TTZ Trading Time Zones. This will go over the 4 or so different zones with different price action. The O/N or Overnight is one that confuses traders as it will lift (usually after a drop day) and then sell off in the Regular Session. It seems too easy to just Short the Market the following day, but it usually is that simply. Not sure we see a lift tonight. Also, when we see a drop in O/N, the Open or Regular Session usually will lift. This is a pattern that was active all of 2022. The NAZ is usually a 1 way flow when there are big lifts or drops prior to Open. The Dead Zone in another that will show confusing price action. These lower volume zones are harder to trade and many times will move in the opposite direction or the major daily trend.
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Examples below. You can go back for over a year and see much more.
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No Fed No Rally, BTD/FOMO out of moves. O/N Range is below.
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12540 and Under is a Short, after hit/rejection the NAZ may go over the Cliff. No approach at 12540 would suggest a Bounce at a under Box level for a bounce to 12540 for a test. Big drop may be 1-2 days away.
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1st ledge, 12000 Next
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Yellow line break and yellow brick arrow next
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NAZ over the Cliff and at lower Weekly Box KL, mentioned Monday that we may see 12,100 this week. Two plays from here and 12540 is a target for rejection and major drop of the NAZ. KL's going south have been working, look for KL hit, bounce stall and drop back under to next KL. This will change and start heading higher and it does not suggest a direction change. What will happen is the Pro's will buy back discounted shares at these lower prices, lift and get you to buy them back at higher prices and then drop again the get you to sell at higher prices.
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Update from Yesterday Close chart and O/N Range. The yellow arrow is the Short Signal in the Range with Target at lower KL. The left Chart is 30M and right is IDS20. I will wait for Long Signal on IDS20. At this point the Longs have been flat/stall/drops. 12275 is popping some and need to see it move up, retest near 75, hold and move back up. Otherwise, just another Short set up.
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Retested on 75, Long with Stop behind, your call would be Scalp.
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12290 is a Long Call, target KL 12435 or half way. Stop 20 back.
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Yellow Arrow reason for call and white lines are targets
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1st target hit
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Add to Long above 12315
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O/N drop is most likely going Long in Open Drive for test above. This is typical and has been a pattern. Just look for NAZ to go to Mid O/N Range by Open.
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Expect some pull back near Open, may see drop back to 12300 then pop back up.
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Last comment I closed at 45. Will reload and not Shorting. Scalping is in out in out.
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Random Open, 1st 10M is a no trade for me. I usually wait until 10-15 minutes in if bot already in.
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Divergence set up the Close on Long and this could turn into a Short.
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As long as NAZ stays above low, look Long 1st. It may come within 1 point from low and go back up. If so the stall out is the Short. Use KL's, back later.
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A Hold near low is a Long set Up.
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Weakness at 380
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NO hit 2nd target and 380 weakness set up short.
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Been scalping, still tilted to short side.
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Stall out, drop, to pop is most likely. under 380 - 400
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Under 330 is Short now.
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Dead Zone drop to sideways may turn into Runner lower
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The current range will get tricky and whippy, be careful on your commitments in here. Back Later. I have Short with stop at 12345
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Stopped, This is where the trade goes opposite direction for the day. May run higher some. Long is good just trail.
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I will be back later, I rarely trade the Dead Zone on Friday's. Long looks good just watch ticks and stalls. The 2nd half of day may see a sell off should DZ stall out or need to drop the NAZ back lower.
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PA looks like a shaky Crack addict, use a stop.
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Anything under 12450 is a Short. I have a KL at 12435, you can let the Dead Zone lift it with snail inchworm strength and then look Short. Should Zombie traders get the NAZ higher or above 450, it may run to 540.
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Recently, KL Short trades are 100%. Trade take profit and reload. IDS100 is still in downtrend.
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Very strange roll over here, big pop or drop next.
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No Fed No Rally is a joke but maybe not. There is nothing behind any Index. Any lift today may just get sold off until next Big news release next week. Under Mid of Open Range is Short 12352 watch the level.
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Still looking Short, lower KL on this chart should Air Pocket happen
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Look for this or close short
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Wide stop day, games all day long.
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Jerky PA, may pop or fake out. I am trailing Short.
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Any lift has to pass 352
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Divergence on IDS20
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5 minutes to move. May pop.
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Hit bottom 1st 30m, needs to pass
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under 352 - 275 retest, above long and below short
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352 hit and rejection.
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Big move next 352 is Key
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Bear market PA.
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Short under 330
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Just watch 352
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Dead Zone lifts are just a distraction
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Need to see negative ticks. Or may pop some.
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OK, now head fake long to short push should play out. Stop at 360 on Short added more at 352. NAZ under 380 is key for today. The lift to stall is the play. Should see push lower at 2pm Chicago CT. Day like today you need to Enter and take profit and reload.
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Stay short below 315
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Closed short at HL 275 failure
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Reload Short at 330 or 350 failure
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You can scalp KL's either way.
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275 basically retested, note from earlier. Will try again, big move on reaction
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Here we go watch the ticks, can't type.
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100 point move on the way
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Looking Long
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300 to 352 Scalp, no pass switch short
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Whne you have KL's use set Take profit trades
Trade closed manually
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Should go Back to 330 and no pass go short. No Long just look for short. This may run lower, I am flat. Tough day, had to work for it.