Yesterday we saw the NAZ stay under 15100 and then broke under 14967, two key levels that we were watching. Support at 14800 & 14774 (low) did hold and gave many the "dip buy" opportunity that I mapped out a few days ago.
Today, expecting narrow Range price action with slight test lower prior to testing higher. Under 14967 look Short and above Long.
Overnight: High 14998 / Mid 14932 / Low 14866, Shorts place trades at levels pointing down & Longs at levels pointing up.
Today, expecting narrow Range price action with slight test lower prior to testing higher. Under 14967 look Short and above Long.
Overnight: High 14998 / Mid 14932 / Low 14866, Shorts place trades at levels pointing down & Longs at levels pointing up.
Comment:
NAZ dropped from high and went under 14967 to 14900, bounce to 14965 and got rejected 1st time. Watch this level.
Comment:
14967 now needs to hold.
Comment:
PB support at 35
Comment:
NAZ staying in Original Range area. Short at 1st top and buy at 1st dip, watch for failure and drop to 14950 70 levels.
Comment:
NAZ still is Buy the dip mode, confirmed. Any failure to move higher will be good Short.
Comment:
NAZ is now following Trend line UP, will need to stay near or above.
Comment:
Upper Target 15126, should it run TL.
Comment:
Stopped at upper Range 15052, staying in Range for now.
Comment:
Slowing watch for quick Drop & Pops, these look like shorts but are not. NAZ collecting sell orders to take higher. Will switch to Shorts at failure and low volume, later in day maybe.
Comment:
All 4 Update, All under recent Highs. Will need to test highs.
Comment:
15040 will bounce to confirm trend.
Comment:
Failure ay 40 looking at 20, 1st bounce stay with trend. Needs tp pass 15074
Comment:
14988 is buying zone, NAZ collecting for bounce up. Not short, should go back up from 15000, now at 15030, 40 may be resistance.
Comment:
Now at 15055 an picking up steam, Stepping away until close.
Comment:
80% retrace complete, 284 points from yesterday low is 284 and we hit that at 15059 which is near top of Range: Gamble from here, NAZ will run wild. I am flat.
Comment:
NAZ drifted lower to 14960 and is now at 14978, above 67. Wait for Fed Minutes as this will move index.
Comment:
Well above 14967 at 15015, next is conference call and close. NAZ still in Range area.
Comment:
Basically the NAZ has not gone higher than previous high earlier today and although this may happen, we are protecting against any drop that may happen by close. You should be flat as this shakes out. Downside risk is higher than normal today. Shorting is not recommended, at this time.
Trade closed manually:
Interesting, NAZ closed at same level of Open Session open. Will update tomorrow forecast by tomorrow open.