NAZ at Box Bottom (technically out of box), rejected at Mid Box. Overnight low of 15418 (white dotted TL) is a long term TL and is the 1st lower target today after Open, no hold the NAZ may follow (white dotted diag TL) to to TLX levels. On the upside (drop & pop), strong resistance at 15600. Blue arrow above is the turning (mid box), upper target today may be 15720. May want to view attached NDX chart as a reference, kind of scary as to how far we could drop, careful on with the popular "Dip Buying" strategy (Mr. Retail).
4HR Chart, Double Box Volume
4HR Chart, Double Box Volume
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15394 TLX counter trade setting up, if it develops it should target 15495. Take it or leave it should it set up.
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15394 did not develop. Now at TLX 15321 developing better for trade back to 15394 1st, then 15495. Needs to develop and signal.
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TLX 15321 did develop for bounce, look for retest.
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Unexpected Good Curve ball, this could play out today. Banks/Financial are down pre Open and we may see a shift to Tech as of recent discount. with drop this week and TYD. TLX trade at 15321 is up 50 Points here. Move stop are let it run a bit.
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Strong Long above 15418
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TLX 15321 Target Hit, look for 2nd attempt at 15394
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Take profit on 1st trade was 70 points, Renter long at 15321 to 15394 and use profit as stop. I think the NAZ may get through 15394
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TLX taking 2nd Hit, Should TLX 15321 hold, NAZ might Open with Pop test to see if buyers come in and test to upside prior to any further decline. Low needs to relatively hold though. What we may be seeing is some low range moping up prior to move up. Lower indicator structure looks good on 25/50 IDS, just profit as stop or wait.
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TLX 2nd Long approaching 15394, let this one run as it will try harder to get trough.
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Yellow Arrow is idea for today on Long side.
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TLX 2nd trade, Good watch PB
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The White Box is the range for the day, we are now in Mid Zone and this where the NAZ gets confused and can go wither way. Use TLX's as targets or support. Mopping up call was accurate.
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Look short should NAZ stay under 567, stepping away.
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Back in Box, PB likely no pass at 567 or 600.
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TLX, opposite direction for balance should NAZ get stuck here. NAZ will bounce around like pinball in the Day Range Box.
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Pop above 567 looks fake, careful here. Stay long just watch PB.
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Stepping away and Closed at 580 here. 10YN is down, other Majors are down. Long Weekend, I may renter later.
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Target Hit on this one, may be the upside for day.
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Use the IDS/TLX combo, reliable and I have been testing it for some time.
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10YN yield is popping, careful on Long Side.
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Yellow Solid is Short on Double To, Target is white support line, 2 yellow line show good divergence, set developing and next trade is yellow arrow back to TLX. Wait for tests on entries.
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Working, the profit you made on the prior short is your stop or Risk Free Trading. The Long entry at 85 popped to 35, these add up. The prior short was good for 70 plus.
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Previous example, you use brackets and take profit 30-40 points. Once the NAZ fails to hit target (TLX), you go the other way. The 3 TLX's are you range of play and you have to expect it stays in the box. I mentioned earlier at 15321, next move higher then lower and that is playing out.
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Stepping away until close, pay attention to yesterday close price 15458. Long above and short below for now, use TLX's as targets reversals.
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Sweet spot is yellow Box, white dash is equilibrium. NAZ has gone nowhere and only play was Drop/Pop.
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TLX 15567 has taken 4 hits with no pass, may want to eye lower TLX, should NAZ stay under (after so many hits).
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50 IDS is more reliable, late on entries and exits (use 25/50) for clear picture.
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General rule is "do not trade in the Box" or "trade like crazy" in the box in both direction. The Break out should move with speed.
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NAZ under TL and Equilibrium here, short signal and pushed out of Box. Have to let push play out.
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Targets
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Target 1 hit, the bounce is from closing orders, will lift and drop again.
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Notice at yesterday low, belows moves much lower.
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Circles are mopping. Counter trade to selling at bottom are buys and buys at top are shorts.
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Target 2
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Back at support, break here is ugly.
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TLX to TLX, play these. This one may not hold.
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10YN is way down are lifting yield. This pop may be head fake.
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Anyway, last short was good for 100 or so and the shorts are now covering and may re-enter. Watch Ticks and FNG1.
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Still under yesterday low, mentioned earlier.
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Ticks now high, that was clue to Pop. You should be flat anyway.
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Crazy but trying for upper TLX. Pass TL and Equil will get it there.
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Mopping short covering is pushing up, NAZ still nowhere.
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200 point swing for alert trader.
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If you look at PA, NAZ wanted to go up all day. My original thought. Has to go lower to get higher and vice versa. Now you can play whipsaw with an understanding.
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NAZ now above support. Still nowhere.
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Trying Pop here.
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Will struggle to get through Mop Zone.
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No pass at Upper TLX should be it. Passing, should fly.
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Now lower Mop Zone.
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Tough day up here, bi move to follow. Watch Ticks. Stepping aay.
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Big move out of Mop Zone, notice that it is in TLX area. Above is follow through into close. All 4 are up.
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DJ is not.
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TLX test, this may come down.
Trade closed: target reached:
Holding and looks like mopping for next move lower. Same spot as 1st 30M.
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Friday's TLX trades/calls with out the noise of a bar/candle. Blue are calls, red/white line is simple lines indicator and horizontal are pivot indicator. The point is to reference the price action near/at TLX's. Another is to go Long white and short red (simple line) to or away from TLX.
