The 12/6 post update will show that the NAZ has chosen the ATH retest direction. We are still below the 11/22 Grinder Drop Top. The round trip Drop & Pop has generated over 2,000 points. I am projecting that the NAZ will continue to retrace to the White horizontal line near 16,500. This would be an 85% retracement and about 175 points above Friday's close. The Red horizontal (TLX) is a likely target for a drop test or adjusted Year End close. The range over the next week or so could be likely to stay between the 15,800 and 16,500 levels. The White vertical is 12/31, as you can see we do not have many trading left in 2021. I may post daily on 12/12, if not stay long above white diagonal and look short below. Should COVID chatter not get louder, go Long Sunday into Monday with 16,500 level as target. As you can see, 16,100 has provided strong support previously. You may want to stay Long above this level.
Comment:
Support at 16144, Go Long for bonce to 16250.
Comment:
Use stop, FNG1 is off 2.40% and RTY is off 1.85%, this may go much lower.
Comment:
Strong Long above 160.
Trade closed manually:
See Update II
