NAZ trying hard to get back in the BOX. Propped up 100 or so early in O/N, been the game plan all year. Look for NAZ to bounce off orange line and break through the Box toward upper target. Likely the next move is higher for Tuesday, this will be better position for a better Short for Month/Quarter end Short Trade on Wednesday. Will update as we go.
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NAZ propped back in the Box. Yesterday I mentioned 11385 as Good Entry Long, you will note below after the initial O/N prop that the NAZ fell back to 385 and then jumped again. You may want to read my TTZ's post as to why the O/N (2am ct, 15 minutes), yeh that is the magic. I you missed the 180 point O/N pop, don't worry it will fade by the Open or just after and retest 385 or near and you will get a 2nd chance to get on. Or is the this a prop to drop offset? That would suggest that a large drop in on the way and that this is used to offset or stabilize the NAZ.
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From Top, NAZ dropped 60 point to test TL, chart below.
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11425 is Box Bottom and support, NAZ just tested and may try for 11471.
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11460 appears to be new Good Entry Long. NAZ may rotate around the level 50 or so points above and below. NAZ has moved to top half of channel and will try and break through 11510.
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11425 took 5 hits and held, should be good for 11471 if you took that Long.
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NAZ retested 11440, should pop toward Top. Back after Open.
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11471 hit from 11425
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Look for NAZ to play inside the O/N Range. It rarely actually moves higher than O/N high or if it does, it comes back. This is highly accurate and part of the pattern of propping.
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NAZ VIX or VXN is up today, could get whipy. Do not Buy at tops or short at bottoms.
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Shorting at High may be an easy scalp. Just use stop and NAZ should try for 470 1st.
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NAZ already stopping at High, may try again or few more times. News in 20 minutes, may move things. Open usually sells off 1st to mid range of O/N. The rigger/propers are hard to beat. US markets are way higher than other's. Just think we see a sell 1st then pop attempt toward 11640.
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Stalling some, expect 1 last pop up prior to Open, then Open will sell off some to 11460ish for test. Back in an hour.
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Short to 11460 did hit, NAZ should stay in range today or pop stall drop.
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Good Entry 11460 did hold for Long after Open, Look for stall drop.
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NAZ tested O/N high and now will go under.
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So typical and predictable.
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Now it gets tough as the O/N Riggers jacked things up too high and we will see no real gains, just churn.
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Box Bottom is holding.
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DZ lift at Box Bottom to 11470
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NAZ is Mid Range of O/N, No Trade Zone if you are flat.
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No pass at 11470 could lead to drop back to Mid level.
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11470 hit but whippy PA, Target Scalps today, stepping out.
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This is garbage trading. If you are trading this use targets at Key Levels and take profits. Once a target gets hit, look for the opposite direction trade. Good Luck, this is all in the middle of the O/N range. See how the NAZ always come back in.
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Now under GE of 385, 11343 next.
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11343 Long Trade, Should lift back to 11385
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Now bottom of channel.
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May go back to mid channel, no long yet.
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Channel Bottom to 11343, Ticks look good and this may be capitulation start.
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NAZ only down .30% May see pop back up as O/N did offset most of drop. NAZ gets positive it may shoot up.
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Looking like Drop Mop up, They will take it back up on good Ticks.
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11260 and above may pop. They keep taking it to level and bouncing, below is Short.
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Just mopping and hard to tell which way. Have to just pick and have a stop.
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Knowing all the work they put into rigging, you would assume that up is the direction. Or at least up some to stabilize so it gets to O/N so they can rig it back up.
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Looks like a Long shake out, Go Long with Stop.
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Drop to 46 was final clean out. Should go to 11350 after retest at 11262, if not close long.
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11350 hit.
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Now under 11343
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11300 support
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Long above 11343
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11343 break likely.
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11343 rejected, 262
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11300 support for long into close. Long above 80
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NAZ should try for 350
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Got to 349
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Typical final 5m Pop.
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11300 trade hit close or trail.
Trade closed manually:
Enough of this.
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If you look you can see how the O/N offset the drop 100%. This is the rigging that I talk about. This just confuses us and keeps the NAZ stabilized.
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If you trade O/N, NAZ may go as high as 85% of drop.
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Today was an outside day reversal, circle are others. Should be down tomorrow.