NAZ heading back under VA high. NAZ may test 14050 and no pass may see drop back under VA, strong Short under 13750 and Long on hold. Lower target is 13250, NAZ staying under VA top and 13750. Friday looked like Long Liquidation day with Push Pull showing up for 1st time in days. May see some drop testing after Sunday/Monday prop play or any stall out during Monday Dead Zone.
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Hold on drop, look Long to Top VA High (2021 to Current).
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M Forming
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Sunday/Monday and Monday O/N Prop is over, may see a drop test today. Lower mid week with rally on low volume (when most traders are off) Friday.
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NAZ may try for Outside day reversal today
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Open heavy volume with real PA may snap the Magic Air Balloon lift that has been driving things up. 13900 retest and no pass is a short to 13790
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TL is drop Target or test break of 13780, 13900 needs to stop Open Bounce.
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Bingo
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Outside Day Reversal
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Red line to Red line and back under VA Top, rally Friday or on Gov't issued news prior to Open for retest back up. Many news releases during balance of the week and month end.
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1st Red Line hit, needs to pass on further drop
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Like I said, rally in O/N of low volume period. Should be drop offset for next few days with rally on Friday.
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Short under 13970 and Long above.
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OK, so the prop rally came early. Get ready to SHORT
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13990 Long Above and Short below.
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016 and 035 are Kl's to watch
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Open should drop some.
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14370 is Fib level
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Rally today to offset the drop, NAZ up on the week. The help was the O/N prop on Thursday.
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14640 Next
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Fib Level hit
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Washington Street is in control. Why I though that today would rally. So Monday O/N will rally and we will see on Tuesday. Check out Plunge Prevention Team, there to stabilize markets, something big and day is on the way.
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Still a few days left to catch the "Sell in May" Sale. I have attached 2 IDs Charts that show some strong price divergence. Another recent time that I saw this (upside down type PA) the NAZ had a decent pull back. The Invidia O/N rocket, nobody saw that coming (cushion for what I expected on Friday), then Friday was all machines.
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5/26 Mentioned 14640 as next Target, may get to 14650 and stall some. All O/N and Holiday Sessions will go UP and Regular will go Sideways to Lower. This is a Rig Job so expect a Snap but only during Regular Session.
Trade closed manually:
Month End may show some drop test action, good luck over next few days. I will close this post now.
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Trace to flow, this is why I am not so convinced of real move Up. I can call upper Prop Targets, not sure they hold though.
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At 14420 Long above 450 and Short Below for balance
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14450 Short to 14370 and now Long at KL 370 back up.
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Push Pull is Back, watch your back!
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NAZ just can't climb in Regular Session, gave up 170 points of gains from Prop Session O/N. BTD in O/N and Short at Open tomorrow.
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AI craze (Invidia) was a way to add another MegaCap to use to for stabilization. They snuck it in the O/N, a Friday (pre Holiday weekend) and a closed Monday. Tuesday rejected 170 points in regular session and Current O/N is lower. Today will be interesting to see how the NAZ closes the Month and will start June. Called Short under 14450 yesterday, look for retest and then next move.
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YTD Daily, NAZ may retest lower Box Prior to next run up. Not today but over next few days or so.
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5/30 had heavier volume than 5/26 (Friday), say what? Forgot to mention, BTD FOMO Chaser.