May 14, June 6 Post update and projections. Half way though the 108 day (average box range period), going with next likely move. NAZ should travel upward towards mid to upper channel. Fib .236 & .382 are next targets. I Believe the recent rejection of 12200 level was a Drop/Pop set up for a bounce. Just not seeing the downside strength to take it lower. Overnight & low volume propping up continues to be very effective with stabilizing the NAZ. Don't fight and just follow it. Heavy intraday Scalping has been useful with recent swings. Intraday analysis is key at these this lower level as the battle will continue in the shortened up coming week. Will update intraday as we go.
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Expect some whipsaw and channel bouncing is a range until Monday evening session. NAZ will get whipped around some. Main range is 480 to 680.
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The late Friday Pop could have been the Drop Offset, mentioned it. They sometimes Prop it up at strange times to offset (a usual immediately following equivalent drop) coincidence or rigging? 100 point drop in the Overnight is usually a bad sign.
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Monday Night Overnight session, 1st 5 minutes NAZ up 50 points. Look for a Prop to 680 and sideways at 600 now.
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Notice how 100% of the Holiday/Off Open sessions get Long Propped. Should we see a sell off after the Open Tuesday, stay Short. I would expect a retest Tuesday to challenge this Prop. This is getting too predicable and just feel it can't be this easy.
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Updated next move, White is Long and Yellow is short. This recent drop may be the Drop/Pop set up should the NAZ hold at 480 or Box Bottom. No Hold, then Strong Short.
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IDS is looking good on 27 today and not 20 RB. Calling Long at 410, late on it so let it go and see if it retests.
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529 may be max lift on the 410 Long.
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NAZ gets rejected at Zone.
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410 trade looks good (I did not take), break 680 going to 750. I think this may come back down though, toward 588.
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11680, Short under 11710 with close stop. NAZ should drop back down some.
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11710 did get hit, stopped as it went to 83. Not sure what is pushing NAZ higher? Today's range is getting wide, this may be another Prop Offset as or Drop/Pop is actually playing out on relatively weak day.
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Very strange day. Again, I called for the Long, called Long at 410 and Missed it, focus is key and 1 way NAZ is point to point with no stops. Look for 500 point runner in either direction from here. 1 Way non stop so get it correct. NAZ at 11800 Now.
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Mid Channel is 12200, just noticed the channel is not showing on Post
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Will Post in the morning, I think NAZ will have to test 588 at some point by EOD tomorrow.
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Below was Open Drive today (1st 30M), hard to believe a 400 point runner came out of this. EKG looking is usually weak.
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12206 is next upper target should NAZ bounce near YTD Low.
