NAZ getting moved in Overnight 2 days in a row. Most likely the Open will fade to bottom target and then try and lift. Watch for selling when/if NAZ stalls. I am not taking this week (or next) seriously. Should Open session not show strength to upside, look to fade rallies. KL's 15850 Upper / 15635 Lower
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NAZ, no strength after Overnight Prop, Usual PA here is buy and Pop.
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Happened quick, Pump and Dump for Overnight.
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Long here at 15695 to 15760, TP at 60.
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NAZ may float up for balance of day. 10YN is dropping so watch that. VIX dropping, should see decent NAZ lift here.
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Add to Long at 15600
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Strong Long above 15660
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Stepping away, close 15600 add at 15685 to lock in profit let other run.
Trade closed manually:
As you can see and remember for balance of year. The Overnight carries no real credit and is usually not reliable. The Propping by various parties makes trading the Open somewhat confusing. I would look for NAZ to sell off later today if not tomorrow. The key will be when the Overnight does not Prop, that will be the next big move lower.
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KL's are working, Look Short under Upper should NAZ not pass. Near Upper after confirm close Long and go Short.
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Pass of KL is 15935
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PB support at 15800
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Look for NAZ to bounce off lower TLX at 15775
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How are we doing? Not a bad Holiday run.
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No resistance above, needs to pass Diag TL
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NAZ getting Propped, must be some bad Covid or other news on the way. This will be faded by EOD or next day. Stay Long for now.
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Going Short for PB at 15910, 100 points or so.
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Stop at 15980.
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15935 may see some selling.
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10YN continues to drop and raise yields, NAZ will turn at some time should this continue. This may be a Head Fake or Pop & Drop set up.
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15930 35 is showing some new selling (more than buying), watch the level and it will need to pass. Then you have Box Bottom. No pass it will drop. Moving stop to 16000
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Adding to Short at 75 and moving stop to 16050
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Move from 15920 to 75 looked mechanical, usually a Algo. Bombs away.
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Upper KL is Short Target.
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Strong Short under 35
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Closing 1 at 40 +35
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At Break even.
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Stop at 85
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Should pick up speed.
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Box Bottom rejected NAZ. Stop at 16000, will hold and adjust stop.
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Under Diag TL is target for major drop. Needs to pass 35.
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Add to Short under 85, if you are short. NAZ should test 15875 in Overnight or Close.
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Drop should be near. 10YN back to moving up.
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1 Leg on short, should se 2 more. Now under 50. You may Close short at 55 or 60.
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Here come high Neg Ticks.
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Try and stay with Short side over next day.
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NAZ bounced off Diag TL, will retest, Holding Short. 2nd Hit at Box Bottom Rejected. For Now. Hold Short and add on Lift in Overnight. Close if you do not profit.
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NAZ well off Box Bottom in Overnight, most likely will test today's Upper KL 15850, then 15791 should it get that low.
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12-22 KL's 15941 Upper / 15665 Lower, NAZ rejected 3-4 times at Box Bottom, thinking a Short is in order as I am Holding. Not Trading today as Volume is off.
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12-22, NAZ may attempt a run to 16120, Add to Short at that level if you are currently holding Short.
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12-22, When NAZ does not get Propped in Overnight, it usually Drops in Open Session. May be off since light volume.
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General Rules for Overnight Price Action transition into the Open:
No Prop then No POP, Big Prop look for Drop, Big Drop most likely will continue. Again, today or the remainder of year may be off. Watch for a Long head fake at Box Bottom.
No Prop then No POP, Big Prop look for Drop, Big Drop most likely will continue. Again, today or the remainder of year may be off. Watch for a Long head fake at Box Bottom.
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12-22 Strong Short under 16122, Hold off until confirmation, may pop up today.
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12-22 Look for NAZ to drop near 16025, if 80 does not hold.
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Dropping 120 add short at 75 +45
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Yellow arrow is Short Target. Today or tomorrow.
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12-22 NAZ needs to stay above 16045 in order to not fall further, this is top of 1 half hour. Fall below and it may sink.
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12-22 Looking for Pop off 65 to near top, failure and drop. Reload short at top on stall.
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12-22 At 75 NAZ is struggling to get higher, 85 will be harder. Buy Dip may not work here, FYI.
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What they did way Drop to 40 support and now DB Double bottom in order to get it higher, any stalling from here will drop. NAZ needs to pass 85.
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They are really trying to keep it up, may work. Just watch the close if you are long.
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105 Strong Long zone.
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Careful here, I think we see a Hook Short developing. Like a head fake Long, Struggling to get higher is the clue.
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So far normal price action, I was expecting some trickery since light volume. At this point NAZ may hit 16240 in Overnight or tomorrow. This bounce needs to hold and go higher, should it not, next move is lower.
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I mentioned my short was a long hold play, I may scale in as the NAZ climbs. NAZ may go to 16240 and Box Top, smart money will show up and correct. If you are short you need to add and drop at times to limit damage.
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12-23 Look for NAZ to play between the 2 White Horizontal Lines, today and or next week.
2nd trade at stalled high, go Short.