Got to go with Overnight Prop Magic, reaction at CPI release, then Good/Bad or Bad/Good strategy. Either way, the downward force has been pretty weak past 2 days, expect a lift (anyway you can). Yellow arrow would be the actual decline of the NAZ (not likely). NAZ can barley move lower, gets huge rallies up with no real reason.
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Yellow Box is the Protected Zone. The NAZ will do all it can to stay clear of this area.
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Baseline Update, NAZ my hit original 8/11 target (few posts back). TL and Top channel cross.
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NAZ tried a Drop to yesterday low and Pop to TLX 13094 and was rejected. Not sure why the 120 point run happed, must be prop offset. NAZ could drop from this level at 13095 as it has added to cushion of the pop offset. I would not look Long unless NAZ gets above 13110 or so.
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Again, NAZ can run up with ease 100 plus points and when dropping it struggles to get lower. The underlying lift seems to still be in the NAZ, this may change should we ever get some limit down O/N sessions or Box Top testing and back in the Box.
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Since 2am CT, the Prop Magic started and is keeping the NAZ lifted. Other markets are lower Asia, EU flat. Kind of expected and most likely will Pop higher, stall and sell off.
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You need to notice that all of yesterday drop after Open is erased with current A/H session. Does anybody else notice this? This is a 90% post decline event.
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Currency NAZ, 200-300 point moves in minutes. No wiggle and no buying/selling, just straight UP. Need to see how the Open Session plays out.
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13350 Shorting 5
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13280 Target.
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13300 and 13290, may take profit here
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250 Points on Trade, NAZ will fade today.
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Lift to 13340 - 50, stalling is the Short Signal.
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NAZ has No Power in the Open Session. All Overnight, will need to drop and Pop. 13340 to 00 is test range.
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1 more failure higher and this will fade. If not going to the Moon
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Here we go, Last shot at 13340
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Shorting 5 at 13320, 30 point stop
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Target 13280
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13280, 13247 targets
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Long Trap, so far. No Strength NAZ is the Game. 2 am Rally magic. Target hit out 200 On trade.
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Let it lift and then Short it. Stepping away.
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Is 8.5% inflation GOOD? Think about that.
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Careful Dead Zone Magic lift is likely.
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DZ Expected may be unexpected, today. If no drop NAZ will float higher for balance.
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NAZ did Inch Worm Lift back up, Expected and may work for balance as real trading does not exist like it use to. I do not trade slow moving Grinders. Under Day high or 13355, look Short. Going Long is OK, NAZ still in O/N Range and I need to see some Growth in the Open (rarely happens).
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NAZ struggling under 13375, testing top 1st 30m. Under and it should drop.
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No strength NAZ will show up. 13250 will be target. Shorting 5 at 13365
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stop at 13380
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stop hit -75
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Shorting 5 at 13378
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Stop at 13390
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Target 1 13350
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Stalling is Falling. Stop at 13378
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Closing at 13358 +100
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No pass at 13375 stay short.
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13350 hit
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Big action, Bigger reaction.
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Bombs away, scalp.
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Major Long Trap.
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Good news is Bad news, get in the Loop.
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Now under 13350 is resistance. These drops will eventually stop lifting and then you stop scalping.
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No pass at 13350 is the sliver bullet.
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Just got rejected on 1st try.
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4200 on the SP500 is a key level and should it stall here, we may see a sell off as many feel that this may be as good as it gets for awhile. Passing is bullish by EOD. We may see profit taking should the indexes stall out.
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The O/N move has pushed all indexes to a point of move higher or not. No room to miss next run and the climb will try and continue. This will have to happen by close or the indexes may pull back some. Not seeing huge BTD or force pushing things higher yet, may come in final minutes of day or O/N. The power is with the Long side now and until we move higher. Again, all in O/N and not the Open, that is the only weak spot.
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Huge move on SPX, may be stretched
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Last note, Notice how the NAZ avoided the Yellow Box or sell zone. This happens every time we get close to a cliff. The moves are mammoth when we approach these zones. You can see these many tines in previous posts.
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OK, third hit near 13390 - 400 and no pass, go Short. This is the third time (various days) that the NAZ has been here and no pass yet. This time may get through and if not, it will drop.
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This is the weakest 300 point day that I have ever seen.
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Divergence on NAZ, should drop. Believe it when I see it.
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Long 5 at 13360 and selling 10 at 13390 stop 5 at 13345. Playing the Pop, stall drop trade and stopped on all should NAZ hit 45 1st.
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Idea
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Drop near stop should rally up
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Taking off selling 10
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Stop at 55
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13415 is upper target, may short there.
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stopped -25
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Long 5 at 57
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stop at 47
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close 67 +50
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should hit 90 or needs to.
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Look short at 13390 400 or final 10 m
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Shorting 5 at 13370 top 400
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no pass at 85 is key, may pop or turn
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stop hit -150
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Shorting 5 at 13400
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stop at 420
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Should go back to 13350
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stop at 13400
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No loss stop
Trade closed manually:
narrow day in open, all overnight. Short 5 at 13395
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stop at 13400, into O/N
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stop at 95
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Stop at 85
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out at 80 +75
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NAZ close 10 points higher than O/N high. This is just amazing. Next move is most likely up in O/N will further move in Open. I would be shocked if any selling pressure shows up. I do think that we test Box Top in next week or so. We are only at the high of a few days ago and still no pass, this may be a surprise problem should we stall out.
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Example is the O/N tonight the NAZ can advance and take on new ground, during the Open it usually does not. Pay attention to this and look to trade it while we are in a melt up.