NAZ has hit the Red TL and at 100% retracement of 10/11. Look for Short Covering and Dip Buying to push the NAZ higher. Note: True Open Session growth was 100 points from 10/12 close to current price. The NAZ has moved 300 from 10/12 low to current. This is an Air Bubble that will be tested/popped, the pop will be a dip buying opportunity. 10/13 Open Session PA was weak & choppy, but here we are at 14900. I feel the melt up PA is returning. I have linked my 10/5 call, lower low to current.
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All 4 Update, Long look to Indexes:
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PB to 14840 likely for Dip Buy, or lower at 14780. Do not wait for lower, as we may see FOMO rocket shot.
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1st Long Target is 14975
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Current Leg from 14870, should be tested and is good spot for 1st Long. Shorting from 14935 to 14870 is high probable trade, reverse at target back up. This lift should start to fade. Cover your Short with Stop, If you do not agree.
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If in Short, consider closing prior to Open, should you not get stopped out. 14890 is likely target.
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Close your short if you have not.
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Usually, the 1st 8-10 minutes of an Open, I do not trade. Today will be decent battle off the bat. Thinking Longs win and stall and then fade action. Should there be no fade, Long and walk away.
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NAZ tested top of retracement 14890 and should go up.
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Melt Up underway, Hold your nose and stay Long. Very hard to do, I just do not see the Short being a paly.
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1st Long target Hit 14975.
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Overnight High was 14950, Open Session is 14985 or 35 higher. This is only 35 points of the 220 points generated. This is am "Air Pocket" that will Pop at some point over next day or so, keep this in mind as we Melt Up. 15060 is next Target and 1st Short, after Confirmation. Stepping away until afternoon.
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Aggressive Trade: Taking Short at 90, Stop at 15010. I do not REC Trade, using profit. See divergence and I could be wrong. Targeting 14940.
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Stop Hit.
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Huge Divergence, Short developing near Target 15060.
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Trying another at 35, stop 70
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NAZ TRIN dropping and FNG1 at half return of NAZ.
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Shorts have not covered, if they do we will see another leg up. Watch the Ticks.
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Stay Short under 45, target 14980. Moving Stop to 50
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Short add if you can and are profitable. Aggressive Counter Trades. Only if you have profit. NAZ Stalling, Low probability, just a feeling.
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The Short will see the majority of drop (if any) from 1:55 to 2:15 PM CT, after that it may lift. Next drop (if any) final 10 minutes. Cover short if you see lift after times mentioned.
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Cover 1.
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2nd let play out.
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Stop on 2 leave at 50 or take off only if you plan to hold until close.
Trade closed manually:
Closing, Melt up day.
