Big day, Month End, Payroll, Mich Report and Tech took a hit. Dip Buyers or profit taking by smart money. TL X are Red (stall/turn levels), Solid Thick Yellow is Strong S/R, Thin are weaker S/R. Should NAZ break 15560, play the lines below. Current Key Levels are tight: Upper 15650 / Lower 15620 Long above Upper and Short below Lower.
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I could be wrong, but I think you just Dollar Cost Average all rallies with Short's you may be happy by EOD. NAZ back under Old ATH of 15700, 17740 does have a buy/sell level. Use 15740 as target for Longs (if going long) and Short placement (if going Short).
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With Key Levels today, do not go in opposite direction (too narrow), you need to go long or short after break out.
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15620 is holding, Dip buyers should strike 1st and after NAZ gets a lift the Selling should start.
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This move lower from 15650 to 15615, could be long set up Pop for Open and Not a Short. Let it play out. 10YN just dropped and stopped.
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Long set up did work out, look to short near 15740.
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Strong Short under 15668
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Predictable Dip Buyer 1st move, Selling next.
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Divergence developing, get ready.
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Start Shorting at Old ATH.
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Upper target hit, Short with stop NAZ moving up should reverse.
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NAZ just short of ATH, may see sell off buy EOD. Stepping away.
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May be trying for 15830, FYI for shorts.
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Strong Short under 15761, Long above.
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Shorting at top of 30M, Only.
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I am noticing that entries have excess factor. For example: A short at 15740 should wait until NAZ moves 30-50 higher before entry. Trade is good just have to factor in excess prior to entry. This is happening on both sides lately.
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98 is next spot for short, close stop.
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Has to have failure.
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Bouncing on yesterday High.
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Every dip is being bought.
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Under 98 good for try
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NAZ not making sense, most likely a short, use stop.
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10YN leveling, FNG1 is down ,25%, Russell is -.18%
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Watch yesterday high
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Target 68 , should go under.
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Excess is used to Offset. Goin g to 40
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Short again on failure retrace.
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NAZ turned
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40 may bounce.
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61 bounce, may go up some.
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Round 1, stay in this zone.
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Yesterday High is key, to 98 or back to 61
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What is happening is Shorts at 98 closed at 61, reason lift. May repeat.
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Better trade is Short at 98 and reverse at 61, next time plan it. May retest 61 at stall.
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We are looking for points, not knowing every move or thinking we know where the NAZ is supposed to be.
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Those that reversed will let it ride.
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Now, they may sell. 82
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Round 2
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Longs are winning. Currently.
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2 to 2:15 PM Ct, Shorts will show up. 60 should be hit. If you reversed at 61, you would not mind this move. Until it gets back to 61 (if). That is when NAZ should break.
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Ticks are low for rally. Although it does not take much lately. Russell and FNG1 are geting lower.
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Here we go.
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85 is mid or recent move range, either way here.
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Note Institutions will want the NAZ to drop so they can accumulate inventory since we are at ATH's (they sold all their inventory on way up). This may happen today or next few days.
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Looking like head fake.
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10YN is the problem, keeps lifting. use stop on short.
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Notice how we are still under 98. Good sign for now.
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For a bull, we have been in a 5 point rage for awhile, does not make sense, to me.
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61 sells need to happen.
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Ticks not showing this, close stop.
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Inst may come in and force it. Hang tight.
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5 point range for 45 minutes, not bullish to me. Has to be a reason for the Prop. Most likely big drop coming in next few days, if not at close.
Trade closed: target reached:
NAZ gone nowhere since 11AM. Looking for direction change. One direction days continue. Once it gets going, just follow. Thing is, we are used to 2 way. Just does not happen as often. NAZ will try for 15831 and sell off Sunday.
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Recap on day, Long at Open to 15740. Short 1 at 15740 (stopped) and 98 to 75. should of reversed last short, was not expecting Prop being Month End and 10YN was also bullish today. Decent day and Have a Great Weekend. Today was frustrating and made little sense, usually a sign that something is on its way.
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Look at 30M chart of 10YN. Run up to help NAZ and Dropped back at close, then back up. Keep your eye on this, will be key for NAZ. Strange things are brewing.