The Monday final hour 100 plus drop has been corrected in the O/N, not sure why so going Short. The O/N has been used all year as the pump side, then the Open is usually the Dump side. This has been the pattern, just staying with it. Could be wrong and will update as we go.
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TL Chart, when NAZ gets near Red Line it usually heads back to channel and back in the BOX.
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Dollar is lower, most likely reason for lift. Walmart looking good, may see some movement out of Tech (taking profit on recent bounce) and into other sectors (such as retail). The move may being goosed with a pump in O/N to exit higher since yesterday's close may have been a warning sign. We either see some whipsaw or this climbs higher and higher and the close yesterday was what/why?
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11870 is KL and Strong Short should NAZ get under and fail to get above.
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11910, scalp Short to 11870.
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The lift will most likely continue until the Open. The slow PA has been around since yesterday, the O/N slow climb is hard to trade. The Open may continue or switch with drop test to 11870. When I have seen this type of close drop to O/N prop, the Open will usually retest Close Low or near. The O/N use to lift the markets is usually a short or decent scalp short set up. Note, Open rarely travels higher than O/N high, just think of Longs that got sucked in prior to yesterday drop in final hour. They suckers have a 2nd chance to get out. I will be back later mid morning. I have no stop on Short.
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Adding 1 short at 12100 to Break even drop on 2 No stop.
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Just amazing that again we see pre Open Pop to juice it up. Still wondering why the close dropped yesterday?
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Closing 12100 Short for plus 50 at 12050, 1 still on.
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Need to make up 100 or so, will work on. Back later.
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Selling is showing up to test 12021,scalp shorts on lifts.
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Scalp from 60 to 25, plus 35. Still 1 on Short. 12021 is KL, look for 870 retest under.
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910 short, plus 85 on scalps = 11995 NAZ dipped to 11965 after Open, would of closed short there but was in a car with no access. Current exposure is 25 points at 12020, will place stop at 12100 and I think the NAZ is coming down after dead zone stall.
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Breaking out from Red Line. Looking for Drop/Pop prior to that move. Why does the NAZ rarely get above O/N high? O/N high is 12118. RIGGED. Adding 2nd short at 12040 with stop at 12100 on both. Target on drop is 12000, may hold lower should NAZ not hold.
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Just feels like a complete rollover is on the way?? Signals may be early or crossed today. Usually on these though. Points exposure is not bad and will use yesterday close profit to cover.
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Does anybody else see this or the potential drop?
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Stepping away. Should this stall continue we may see some profit taking as the recent pop is 10% or so and many may feel with Holiday next week or beyond, momentum may stall.
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Seeing some Push Pull, Careful here Longer's.
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Stop on Shorts is now 12040
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Long side is fine, I am looking for drop/pop. That may sink if some get jittery. Stop's at 12000
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Back in office. Stopped at 12000 with profit after mistake. Great day or example of how to play out of loss. Anyway, the NAZ continues to only lift during O/N and sell off during Open. While it appears to be strong on Long side the Short side is available for scalps. Stalling is falling after O/N prop. This may sell off today or tomorrow. 11970 is .0236 Fib and bottom of 1st 30M, break below and down we go.
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Today O/N high was Short, yesterday RICHOCET Zone was Short to Close, Close was Long. See the pattern, these are all Edge trades and the best spots. Just like Danger Zone trade last week. We are now in no trade zone or lower probability zone.
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Range to watch is 11865 to 12056.
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So far today is a failing Long test, as it is very weak. Yesterday was 1st failed upper test that sold off. Need to see how today plays out, even after major help from the O/N Riggers. This could get ugly, quickly.
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NAZ is just struggling. Stalling out on every lift. Head fake after Stop clean out is what to expect. Flat and waiting for MOP exit. MOP is 12000 to 12056. Generally Long above 12056 after retest and Short below 12000 after retest. Yesterday mentioned BTD was too easy and we saw the drop, same idea here.
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Dollar is climbing off lows.
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Why does the NAZ continue to struggle in the Open Session? All tear long. Because it is RIGGED. Snap is coming. Like a stealth.
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Previous Drop/Pop got 100 from 11950 to 12044. That is why I am short again. Failed Drop/Pop for now.
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Not Short yet. Looking Short again.
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Short MOP exit is 950, 865 and 738. Long is 12056 12162 and 12219
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NAZ looking Long at 12000. Head fake until 056 exit.
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260 point day and NAZ stuck in 50 point range since 8am ct. Not bullish but BS.
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Shorting 5 at 12000, 950 target. stop at 12035
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Stop at 12010
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Closing 3 at 85 Plus 45
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Stop at 12025 on 2
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12000 retest and drop to 950
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Execute or be executed.
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closing 1 at 80 plus 20
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Stop on 1 at 12000
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Stopped on 5th, no loss, plus 65 on trade.
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No trade zone, could be 2nd 12000 retest.
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Push pull is the best indicator when looking short. BTW the Dow is dropping some off high.
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On Long side just understand that most of the recent 1,000 move since last week has been done in O/N and the PA during Open just seems to struggle. This is reversed of normal PA and needs to be taken into account with going Long after this type of run after a 11 month Bear. Back later.
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Magic level of 11970, this may be it.
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11920 was a KL (my original Short) and should the NAZ break below for a decent drop then this lift was just another drop offset and Short shake out.
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11950 HIT, 1st target lower.
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865 next
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See the speed here.
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200 point move away from GE, that is desperate protection. Normally the lift away is 50-100 points.
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Earlier note, Complete Rollover. Rally is or may be near its end.
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865 HIT
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738 Next
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Careful Shorting Here at 865, need retest.
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Long Trap City
Trade closed manually:
Hard to trade this but if you use my KLs and place trades to and take profit you can scalp these. I do not type all my trades when things are super fast. 11950 11865 and 11738 did provide good setups to trade, best of luck and review old posts to verify any accuracy. The rollover today was just a feeling or fortune cookie guess. This drop may be a Drop/test and this may float higher above 11965 is key. Done for day and have to leave early today.
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BTW 11650 is not out of range on serious stall ay the close.
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Mentioned earlier that the price would head back to red line, watch the next move as it will break or bounce.
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11894, NAZ landed on it. H/S forming?