NAZ clearly lifting on O/N and weak Open price action. 11140 and below to 850 is the range to watch. Anything above 11140 most likely will not hold. NAZ clearly being propped for a reason, Dow is not off much YTD. Both SP and Dow have room to drop and the NAZ will lead them lower on a prop bust or sell off. The drop today to 10930 may have been a Drop Test and we may go higher prior to another, that test will travel fast in the zone mentioned.
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Tuesday Prop/Drop set up
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Bitcoin down 11%, what is that about? VIX up 5%? All is connected and the machines know no better.
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4HR, Long Top Wicks
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Tuesday 300 point range has the NAZ exactly at 50% or Mid Level. Equal conviction will need some prop help in O/N, if so the Open will test any lift.
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NAZ near Mid Channel of MOP
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Disney will hit the DOW and the machines will react. The domino momentum will reflect other majors.
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NAZ with 30M spike, looking for this prior to drop. Propping may push higher. 11160, watch to level.
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OK, channel so far with no pass at upper target. Key fact, when the NAZ does not get its O/N prop juice it can get ugly during Open Session. Much of the YTD gains of the NAZ have been generated in O/N only.
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Back at mid range of yesterday 300 point range, 11080 and NAZ hanging at Mid Channel. Should NAZ head south, we may see 1 way day of 300 plus. You will notice that the total intraday points are typically 500 points or so (lately). Recently 2 way action (whipsaw). Just noting big 1 way is due, Drop/Pop into CPI may be more believable if you are thinking from the rigger view and may be reason for no O/N prop.
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Circle ma be turn zone should NAZ lift some and stall. Not looking for NAZ to break through upper long term channel.
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Note, we may see a sharp upward move just prior to any decent drop. This has been the pattern. NAZ is basically in a 100 point MOP and will break out big, tilting to lower move at this time.
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New TL and sloow roller drop, sneaky.
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11070 is TLX and stay short under, retest is likely if you missed sneaky short.
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100 point out of MOP expect a lift
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Pass current low will drop more
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200 point range TLX is Mid
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Some Push Pull, may see deeper drop.
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1 way runner is likely.
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Just watching push pull at top of 30m's
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80 point candles on 30M, hard to read. TLX is KL.
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Major push pull, this will Pop or drop after battle.
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Lift may be head fake and clean out, trailing lower.
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Pop to 050 was Clean Out, should head lower. Dead Zone lift was expected. So, 970 bounce expected and dart up expected, looking for stall at TLX and then decent decline. Cover if not and renter later.
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Games, just Games.
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NAZ waiting for some dip buyers to enter to just take lower. This may work and Pop Later. Strength is OK or mild at this time.
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Stepping out, Stop at 11000 on Short.
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Keep track of intraday points as they should approach 500 or so.
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Stop lowered to 10960
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Covered at 960, may see DZ lift. Will be back later.
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IDS 35 KL's
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Push Pull is strong, favor SHORT side.
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850 is Danger Zone, Look for U Turn should NAZ stall there.
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The move out of this MOP will be big. Stop is wise regardless of direction. Looking Short.
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840 is 100 point out of MOP.
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Closing Short at 865
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Back to 950 is likely above 850 only
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Lower target is basically Hit.
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Danger Zone U Turn should follow. Above 850
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1 Way, No O/N prop and the NAZ just can't lift.
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Danger Zone, this should be interesting.
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DZ U Turn, like clockwork.
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Rigged
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O/N prop to follow.
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Bigfoot is next. Final 2 minutes.
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Going Long with 5, points to play with above 850. breaks 850 no trade.
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5 Long ON. 850, 30 stop
Trade closed manually:
Holding No Bigfoot
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propers should try and lift well above 850
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Rejection near Channel
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5 long moving stop to 850
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Stopped no loss