Gap up open in Overnight, only way they get passed heavy resistance zone. Pull back at Open Session (Gap Fill) and up to higher equilibrium. New money Monday's tend to have Long bias. We will look to go Short on Tuesday. I still believe that all major players will be trying to get the NAZ as high as possible to offset the drop that is developing.
Comment:
Narrow, some divergence on volume/price, may see drop to 16180 near Open or 1st 30M. Key Level Upper 16219, no lower. Shorting near 16270 may be only opportunity for Short, should NAZ dip on Drop & Pop. Otherwise, melt up will be your option. Melts ups can drop though, so be careful as it crawls.
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Strong Short under 16237, well under and wait for confirm. PB to area and Pop likely, break may head to 16180. 70 short good for 20 points, take profit prior to Open.
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Pre Market Short was good for drop to 16220, will pop back up for High test. May retest 16220 for bounce.
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NAZ looking weak, many times it will Bounce an weakness and Drop later after whipsaw move. Care on Short, here.
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Stepping away, watch out for drop today. Friday's pop may give way as it was kind of slipped in.
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So for, short at 16270 to 16180 level and reverse is working. I am look to load up on the big DROP, may avoid the small noise today.
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Strong Long & Lower KL 16170
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Upper target Upper KL or 16230
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NAZ is struggling, expect Mid Day lift or sideways with drop later? May happen tomorrow.
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Weak Long head fake, NAZ getting ready to drop.
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So typical, last Friday was a major Prop to offset this. Reliable, just need to follow if you can:
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16060 & 16000 are in sight.
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16160 is next Leg down, or move up should Ticks turn.
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For the brave, load up Long at 85
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Target 16140 1st
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They will not let the NAZ drop tooo much, not yet. And this is 3rd Leg. SL at 70.
Comment:
Trail up with stop, Should lift back up to 16200. Gets passed 16140 50.
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16140 Hit, stay Long PB to 20 and Bounce.
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NAZ stals on lift up, may sell off by EOD. Stepping away.
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Friday NAZ needed 2 30M bars to travel 125 points and today, it has taken 6 to go the same (on downside). NAZ is fighting the drop. Should the fight end, look out below.
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Careful on drop at 2pm CT.
Comment:
Last trade was Long at 16085, Target 16200.
Trade closed manually:
16200 got to 16196, close long.