NAZ near cliff of no support zone. I warned of this on 9-11 (attached). The previous 5 trading days had some very strange counter moves to the upside. I call these propping or manipulation. Intraday traders see all movements and sometimes, things do not add up (they do now). Should the NAZ break below its current level, the next support level is the yellow dash (15127) and stronger support at 15160. These would be good buy zones. The thick Red TL is the upper test, any rejection here would be the your short zones. You can expect an attempt in the Overnight to lift the NAZ up (away from cliff) and then the Open Session will test the red for the next move. Should the Overnight sell of prior to Monday open, things will get ugly as the momentum will be too strong to redirect. Review prior Bear/Corrections, they look like what we are seeing here and this is a crucial test for the NAZ. Followers, Lower Box is insight.
Comment:
Typo above, 15127 is 1st and 15060 is 2nd stronger support.
Comment:
So typical, you will notice that more movement will happen in Overnight than actual open session. Buy the dip not likely today, may want to let this play out prior to any Longs. Be happy being in cash right now.
Comment:
All 4 Update, near good support for most. White line is next or support:
Comment:
Hit lower, 14975 is next leg down and we may just get there after Open.
Comment:
My July 3rd post, in line with current price action and research firm near term forecasts.
Comment:
15036 has registered as a Pivot, Lok for 2nd test should NAZ not pass 15140.
Comment:
NAZ needs to pass White TL, usually does not, FYI.
Comment:
15036 testing now, will need to hold. 15080 is next upper test.
Comment:
NAZ is only 60 point lower than low of Overnight session. You can see that much of the move has already happened. I do not expect the NAZ to retrace up 200 points or to decline another 200 points. Next trade would be to buy a dip that will most likely lift to 15050 to 15100. Wait for stall and expect Short near EOD or more likely Overnight. Should be limited for the balance. Remember, futures declines have limit down of 5%, should they approach limit they may reverse (some).
Comment:
Notice the chart from earlier this year Grinder, one big day wipes out 10 or so, Grinders.
Comment:
NAZ at Bottom of Previous Box (That started on 7/23). Look for major Bounce back in next few days: This all in 1-2 days!!
Trade closed: target reached:
NAZ did have decent bounce final 30 minutes. Look for the low at 14800 to be retested. I highly doubt that the sell off is over. NAZ retraced back to TL.
Comment:
Prop could go as high as 75% of drop. NAZ basically at previous Overnight low and 1st 30 Min low of Monday. Should go Short here but I would expect more lift to come. Watch level 15150.
