No Overnight Prop Dust tonight, they used it up and have to let the NAZ free fall while they make some more. 12,100 is the Top Range and 11,600 is the Bottom. Look for a sell off tonight with failed pop rally after Open to mid day tomorrow, after that sideways. NAZ will move into the in-between zone. Will update in the morning.
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NAZ gets Propped some to Range High and Top of 7/12 Post "Air Pocket" level. Fall below here and target is 800 and 650. When NAZ does not get propped in the middle of the night, it usually has a day (after Open) of mild to massive losses. Asia was mixed and EU is slightly negative. Expect a Prop push above 11985, could go as high as 12,090, if so this would be a great place for a Short should it get rejected up there.
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12,028 is Gap Fill and is a 1st entry for a Short. Enter a Short every 20 points should it climb higher. On decline let the NAZ test the Overnight low and take profit. Play the Box of range until break out, NAZ should test lower at some point. On Short, use a stop higher with or at your risk level.
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Projected Box
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Note, yesterday's big move during the Open session was a strong statement and this rarely happens anymore during the Open session. I think NAZ will retest 11,800 or 11,700 prior to any decent try higher.
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12,028 Short is on. Stepping away until after Open.
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6:15 am CT and the indexes have moved enough to confuse everyone into thinking it is time to buy and the indexes will rise. The Overnight session has moved enough to be a decent Prop, so the flow/momentum may continue higher. Place your Short Cover at 12,035.
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Box and TL's
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I am Flat and can't believe that Propping is still effective. Will wait on some stalling before I Go long or Short.
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OK, high was near the 12090 level and that was a spot to Short as NAZ did not pass. I missed this one.
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NAZ will need to get through the Open Drive of yesterday (1st 30M) 090 was the bottom.
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You can short near level should the NAZ move back up. Just understand the range, stepping away. Scalping today so not too many updates.
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My original plan of DCA Shorting on the way up from 12028 would be nice at this point. Need to wait and see if NAZ can Float higher to Short again.
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Long Trap developing (should 090 get rejected)? Watch your back BTD's
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Under 12117, Look Short
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DCA Short up to 117 with 50 point stop.
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Tesla, AAPL and FNG1 look like they can fade, careful on Long side. Scalp shorts may be the better trade.
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Staying with DCA to 117 and quick drop by EOD. stop at 12215.
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Today is an INSIDE day and will go to upper White arrow, fail to break out and then travel to lower white arrow. Lets see what happens.
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12160 is the Short Zone for Drop.
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This was an Offset move to Yesterday Drop. The NAZ will most likley Drop from here, just not feeling the strength lately.
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On with 4 Short at 160.
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I may be wrong, just have zero respect for these markets this year. Would not be surprised if this just drops.
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12215 stop in place just in case. 1 way NAZ will need to turn. 10YN not looking too good? May help things on Short side.
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NAZ needs to Go Under 141.
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12209 was high so far, Still on with Shorts. NAZ has been pushed just enough above yesterday high to be an outside day. Now we may see the DROP. Games, Games, Games. Negative Ticks are showing up and we need to let the machines recalibrate and help to change the direction/momentum.
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12191 is 1st key level to pass on way down.
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Stops hit.
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5 Short at 12275
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3rd leg to 275 should drop some.
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Zero Respect.
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Stop at 275
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Stalling is Falling. Back up some.
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Should go to 160.
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Closing at 239
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NEXT stall may reshort.
Trade closed manually:
Horrible day! Sorry for the bad calls. Many times when the NAZ is at the point of a serious drop, it goes the opposite direction a big way. Today, the NAZ was ready to go down big. The prior day move was not a typical Drop/Pop set up. Yet, that is what we saw today. The net gain above yesterday was not that much higher. Although it feels like today was a huge move or direction change. Are the markets rigged or protected, of course. the True price action is how we trade and the artificial moves, throw us off. I should have expected this as we were on the edge of Bottom Box and lower zone. We are 150 points higher than yesterday high, not 2022 price action changing. However this day is significant and will most likely be the start of a decent rally higher. I would only expect that the machines and the BTD's will follow and not think twice, so momentum is higher until it is not.