MAZing

NQ 2-15-21 Call Update (7-18-21)

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
From the 2-15-21 Short Call, the NAZ has bounced nicely off 1st target on March 3rd. Slight retest in May and slow Grinder climb since to current level. On downside, the likely next test would be 14,000. Should the level not hold, Targets 2 & 3 may be in play (unlikely). The focus should be with the potential Long/Short points that would be generated during the forecast. The -35% drop or Target 3, is the typical percent drop of a recent max drops. This can be used as typical max drop from current high or any future high. A rise in NAZ value would move target 3 higher. The increase in NAZ value would offset the reduction in declining points available. Therefore, always netting greater than 35% in potential movement should the trader apply Trend/Counter Trend calls (Long/Short). NAZ Climb Example: Target 1 moves up (new Target 1), Target 2 moves to current Target 1 and Target 3 moves to current Target 2. Lets see how the balance of year plays out with these levels in mind. Notice the 5,300 points that are generated with 35% decline. Can the next 5,300 points come as a Long? Probably not likely, at this time since May 13th run has been straight up from 1,2887.
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