I feel a Long developing, do not rule it out. Yesterday had weak selling and a struggle to get lower, we may be seeing a decent Drop & Pop set up. We know what to do if I am wrong, just keep Long side in your view.
Key Levels: Upper 16315 / 16150 Lower
Key Levels: Upper 16315 / 16150 Lower
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Long Shot?
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Yesterday Close Long play, close near Upper KL.
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If you added toady, let those run.
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Follow Yellow Arrow Up until it breaks, Horizontal are targets:
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16280 needs to hold as support, should it we will see VAP change shape (volume at Price) and 80 will be support for Long.
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NAZ got within 5 points of Upper KL, needs to retest and Pass. May see Chop Drop Whip after Open, close renter or hold. Lower KL test is not out of Picture as Head Fake.
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Daily Reminder: THE NAZ IS 1 DIRECTIONAL, ONCE IT GETS GOING IT USUALLY DOES NOT CHANGE DIRECTION. This may be due to Algo's and has been the case all year. The day this breaks down (many days) we will most likely see the BEAR.
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80 level is hold well, PB to 240 20 and bounce most likely.
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Rejected at Upper KL, careful.
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80 is good support, stay Long
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PB here to gather Longs? U Michigan at 9AM CT, may see movement
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Lower KL Bounce or we have a 2 way day.
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16280 is now the problem, hurdle.
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Still feeling Long here, Add Long above 16200
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By now you should see that NAZ picks up strength on the counter trend moves.
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NAZ at ML Mid Level, next move is it or Key.
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Flip a Coin, Heads is Long.
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NAZ is just confused on which way, still favor Long here. Waiting for Coin to drop.
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HEADS! Move 00 Long stop to 20.
Trade closed manually:
PA has shifted to buying mostly, selling is slowing. This tends to happen after 1st 45 minutes to an hour after we see a PB in Open Range (1st 30 minutes). Staying Long, Trailing up the Inch Worm Grinder.
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Longs stooped out at 16280 on drop. KL's are working well, may renter Long and I will update, otherwise I may end early.
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They are really pushing it for bounce or we will see a big drop here. Downside PA just seems off last 2 days, does not seem to have real conviction. I am flat you may want to view Short side just watch for the Snap Flip:
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Long above 16120 and short below, just a note if you are trading.
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Strong Long above 16180
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NAZ current drop above 16120 is 1st higher low in sequence, major pop should follow.
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That should be it, Pop set up here, just place stop if you go:
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Stepping away, I still like Long side today.
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Blast off, just needs to pass 280 and Upper KL:
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Unless 16120 does not hold, use this chart for Monday Open. Stepping away.
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Some of you are out of sync, try my trading system. You go in the opposite direction at stall. Red is Short and White is Long. Play with it, it is reliable. Look to get the heart of each move.
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NAZ needs to push through Red VAP tip, should this happen it will set new day high. Not, will drop back down.
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NAZ will try and get through here at 72.
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May see slight drop & pop to get trough. SP Up watch Ticks.
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Stay Long above 00, will see movement at 2 -2:30. You should of taken profit at 75 80 and reloaded Longs on dips.
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Up push should be next after quick drop.
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Long above 00 or stop at 95, above white line is still Long. Adding Long on Red bars drop. The opposite of what you think you should be doing.
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Issue here is that Neg Ticks are increasing and need to drop and turn positive. That is the turn. 20 -2:15 is big selling activity, usually creates a Pop until 2:50.
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Should try and take out 80. Narrow day and Friday, weak volume.
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Likely Target is 340 since NAZ will not drop after multiple attempts.
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In white zone, buy on Reds and sell at stall. Reload until break through or Target hit.
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Rejection again at 80, you are still positive since you bought ao Reds. Hold for break through or place stop at Break even or take profit at 80 (target). 340 is ultimate target and will require confidence with Trade. Either way you are covered and on right side of trade. Do this all day long and rack them up.
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Here we go. Stay Long and move your stop up as it climbs.
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Take profit at 340 and call it a day. Final 5 Min will be heavy on both sides. If you can place stop at break even or profit, it may surprise and run away to upside.
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Price action and volume are all you need. Get rid of other lagging indicators (noise). Lets see how this plays out. It will take you some time to convert.
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Natural thought is to Short this, that is what they want you thinking. Sometimes it works, not a system though. This is a bad day for a lesson, weak action.
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Passes 40, going to 80.
Trade closed: target reached:
Got to 37, last trade was good for 80-90 depending on your entry. Have a Great Weekend.
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Closing chart, should see follow through to 80 or higher Sunday leading into Monday Open.