NAZ gets the 3AM Prop (drop offset), these tricks work. Yellow is Range with potential Pop where White goes up to 14120. NAZ still in Channel and may struggle to pass 14040 60 level, this may be the preferred Short Set Up level today. Lower thick TL is a long term, today and tomorrow watch for Short Set ups and Rally selling. Mentioned 13920 in yesterday Post, we may see it again today.
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EU markets are lower, Asia was mixed and the NAZ has been propped 150 points for what reason? See the game. NAZ should drop to 14000 and decide next move.
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All Overnight PA, lets see how it holds after Open. Would not be surprised if 100% of drops. Great Short Set up form another POV. Should Open Session actually move higher, I am not chasing.
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Short Set Up Developing, this is how it starts. Watch 195 as level to pass.
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The yellow lines above are yesterdays 1st 30M Top/Bottom. 14312 is next one up, a pass of 195 will try for that and no pass is back to 14100.
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Move above 14195 looks mechanical, these usually are clue of Prop Top. Reality is that the NAZ is a 1 way index, the Short may be out today and Ride the wave higher as it may keep climbing, just keep that in mind. These NAZ is down 1,000 points (after this pop from 13900).
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TLX 14270 is a Key Level up here.
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14195 Hold is bounce to 14270 and 1st test.
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14140 may be a Long, if this market is not totally FAKE
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14195 pass, stay Long. NAZ will float to 14270 through Dead Zone. No Shorting after this recent Drop Test. Next Short Zone is 14270
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MAX lift may be 14312 today, needs to pass 270 1st and then watch that level.
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Short to 195, no pass of 14270. No strength Open NAZ is showing signs of returning here.
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Stepping away, Stalling NAZ is a Falling NAZ. Watch out for mystery moves to upside today (if you are shorting).
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14195 Hit on Short, no pass of 240 is next short to 195 then 160. 195 0r 160 hold is a Long.
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The Overnight Prop began at 14050. This is the true base, since the Open session the NAZ has gone nowhere. This is all prop on low volume Overnight. These are the tricks that can fool you into Long Traps and such. They do work and move the markets, eventually they bust or break down. This one looks weak, probably good enough to fool the market during a Holiday week.
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Long at 14180 target 240
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Add on Long above 14100
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from 140, 195 test, pass is to 240
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195 hit, No strength NAZ. Overnight is the Prop that skews the PA.
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Zero strength NAZ, breaks below 14100 and we go south.
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Back to Chanel? 13920
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Downside PA is much faster than Long side.
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14100, Yesterday Mopping Zone. Under is Bearish.
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Next lower test is 1040 and Long above/near.
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Long above 14080 for pop to 14120
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14120 hit
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14120 is 1st 30M bottom, must pass or shorts away.
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Hold above 40 is a Long
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Long at 40, close stop
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Add long at 14000, close stop
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target 14060
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This was a Long set up so far. All indexes are now flat.
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Stops hit heading to 13920
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Bear confirmed, Dead cat bounce maybe.
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Some divergence on Drop, may see a bounce.
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Strong Long above 14000, likely
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NAZ did test 13920 and will now most likely retrace back up, today or tomorrow.
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Issue this week is with low volume and easy manipulated markets. Look long balance of the week. Overnight will be Long Bias and all get a nice Prop into Friday.
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Stop management is the problem today, if you are counter trading. Likely a bounce into close, mopping until 13860
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13950 may drop to 13920 and bounce.
Trade closed manually:
20-30 point Scalps are all that worked today if you were counter trading the drop 2PM CT was NAZ turn to Long Side. Stay looking Long, Propping to follow balance of the week.
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Just can't believe how transparent the Propping has ben lately. FIB .236 is just below and if you get under it will get real. No prop and we are there now, you can see why I focus so much on the fake PA.
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As predicted, prop session. expect drop by or after open and by. Close Overnight on stall.
