NAZ will not drop and may retest higher should it break out of the Box. Yellow arrow is range to watch. Daily chart is showing a mid day close and can or will move strong out of range, thinking up with O/N to Monday pattern being usually up. 16292 hold is Strong Long, I will update Monday KLOD and ML O/N on Teams.
Daily Chart
Daily Chart
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KLOD 16457and ML O/N is 440, NAZ just at lower Box level and will move up today should it stay above O/N Low 378 and may retest during O/R (Open Range). Typically we stay long above KLOD and short below.
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Range to watch in O/R or pre Open is white zone 16440-16550
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NAZ is at Top of Friday Open Range, no pass will pull back. May retest Mid Level O/R or KLOD.
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Current pattern is lower highs and 16378 was higher low, needs to stay above 16378 or 16340. 16500 is KL to pass on Trend change and Long Play Today at Open.
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Lower indicator may show pop through up or Hook Short, Pull Back or Retest. This is NTZ (no trade zone) until after Reg Session Open (initial pull back) Hold. Pump/Dump form O/N low may be the play here.
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16492-16458 is range here to watch
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The idea today, Prop Monday magic. We are due and would be drop offset for next drop later this week.
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Needs to pass 16600
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548 hit, Top of Zone. Needs to pass
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16555, Ticks bad and CL Crude is dropping may see Pull Back under 585
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650 and under stall will retest 570 ML O/R
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570 hold or near hit is a buy
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16640 has divergence and may drop here or pop up some, can go either way here.
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1 4HR candle just covered about 15-20 on way up vs down. NAZ has been struggling to get lower and this is just a pop retest.
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Should Air Pocket develop look for NAZ to drop back to ML O/R level by EOD
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10am CT, 16655 is IDS20 Air Pocket and may drop to 570
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PB Short attempt with Stop
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Long (292-393) today was easy play, look for 740-540 to be range bound until break out and strong short at 540 break.
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16670 and under should see Drop test today to ML O/R
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Hard to get behind a Long Trade or Short trade, last 2 months. NAZ struggles to get lower with nibbles and then pops up with burst and snail lift. Both are odd and typically set up the next counter move. 16800 was target high and just not seeing any real strength on the drop. After stall out in the Dead Zone today may see drop test, no drop test stay long in the O/N and we may be back at ATH by the Tuesday open.
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Use a close stop on the Long. The SZ's and FA's below are easy drop targets. This will show the holes in the loft and NAZ will retest these levels. Do Not Chase This until after the drop test and that may be the better Short Trade.
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May see some 2 wat at 16740. I highly doubt that, stay Long as the ATH retest is NEXT in O/N, joking but not really. I just can't believe how boring trading the NAZ has become. Unless the Fed is printing money, the markets move like snails.
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Vol is 20% lower than Friday at same time. May see some heavy selling (at some point) to balance things out.
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Still lifting and zero selling pressure.
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Update from 16507 Chart or call to 16800 Target Long HIT
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Have to watch the white arrow below in lower indicator, this is an Air Pocket forming with Big FA's under the price. These always get hit in the following days after the 1 way Prop lift. The 1 way prop lift's on Friday's or Monday's are the weakest and easiest that will drop test. Monday's are usually bullish, we will have see how next few days go.
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This is IDS20 with full O/N and Reg Session, just watch FA's below for retest Longs as NAZ should or may drop some. 16794 KL was hit
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BTD/FOMO Continues in 2024, 6 days down a 1 big one so far back up. Lets see how many days its takes to retest ATH? 1-2 more may be it. With O/N just doing most of the work tonight.
Trade closed: target reached:
BTD
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1/9 Private Post, Good Luck. Today is test in both directions. NAZ may drop back in O/N Range.