NAZ hit the low test mentioned in 8/25 post. Testing to see if it climbs or drops below to next major support of 15100. Buying here for run up to 15361 (major mid level). NAZ is testing support here, use close stop if going Long. Rejection at 15361, will provide 2nd Short opportunity back to 15318. Should NAZ break above 15361, target is 15400. "Buy the Dippers" will keep NAZ up a bit longer.
Comment:
Tested lower and back at 30 level. Should test higher prior to any significant move down. Use Red TL X lines as Support as resistance.
Comment:
Next trade and flow of TL X levels. Failure will be Short:
Comment:
From original note, 61 test has failed and 55 was the highest lift so far. Look Short should NAZ stay under 61 and or TL X at 70.
Comment:
15314 TL X Test and Hold, for now:
Comment:
Under 61 - 70 Short held and lower Target is hit.
Comment:
Dip Buyers will come in and Lift, 2nd wave of selling and Shorting is likely. 15311 is mid level.
Comment:
Yesterday I mentioned the quick drop test and Dip Buying reaction, this is happening now and the buyers are strong. use targets when going in a direction. Hit targets and get out. Longest run yesterday and today has been the Short. The whipsaw is expected when a direction change is being tested or working out. I also mentioned the 2 way trading opportunity. I believe that shorting is best move, after rallies.
Trade closed: target reached:
NAZ at mid level and holding 15311. Projected close 15270 should NAZ stay under Mid Level. Above Mid Level, go with Day High. We did hit Long to 61 and then Short to 15278.
Comment:
NAZ closed at 15275, Could Buy to target 15311, if you want.