Weak Price Action today. Look for the stall drop to really step in tomorrow. NAZ is ready to test lower, no dead zone relief.
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Levels for O/N, doubt it gets above 72.
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Looks like my yesterday comment about Funky Close may have been dead on. NAZ rejected at KL 520 and Express South. The NAZ gets ugly when it does not get its Prop in O/N, lately the DZ action is super strong and somewhat new. Today I am expecting the DZ float to not happen for the 5th or so time (recently).
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Expecting a 10% drop from recent high a few days ago. This could be the start.
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I noticed yesterday that the intraday price action flow was off some and reminded me of the 1st 7 month of the year. Think Bear is back and some selling will kick in. Out most of the day today. Sell rallies and DZ will be interesting as it will most likely not work today.
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Diag TL is the issue on Long trade.
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Bottom of Channel
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There will be NO DZ BS Today
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Small retracements and then will snap lower, the intraday PA changed yesterday. New algo's and machine trading.
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We may start to see some bog drop O/N sessions, we still have not seen any Limit down O/N's YTD, this is very strange for a 7-8 month bear. Riggers have done a great job the stabilize the markets YTD and not sure how much longer this can continue.
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DZ lift attempt at 13305, 320 is max pop.
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Load up short under 320 if not on now.
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1 way day and we are due.
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305 is now resistance, walk down the stairs.
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Stepping away, should see freefall today.
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DZ lift again, lower yellow is EOD Target.
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NAZ tried Bottom of 1st 30M and was rejected, watch the attempt here and No Pass, stay short.
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Rejected 3 times at bottom of 1st 30m, stay short.
Trade closed: target reached:
NAZ hit bottom channel.
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Try to identify blocks, I mentioned yesterday the break out will be decent and we just needed direction. The direction did move down.