Holding 3 Short from yesterday Prop Job (Top Mop area). Basically if the NAZ gets below the Red Dotted Line it is likely gone. Long above and Short below, if you are trading.
Current Key Levels: 16390 Upper / 16200 Lower
All 4 Update:
Current Key Levels: 16390 Upper / 16200 Lower
All 4 Update:
Comment:
Yesterday I posted that I was looking for a 2 way day that Popped after a Drop, then failed (dropped). Today's drop is a new day and most likely a 1 way down day. Viewing Friday, Monday and today we may be seeing the start of the sentiment shift and direction change that I mentioned yesterday.
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Likely PA, NAZ usually STRUGGLES when trying to pass the Blue Diag TL. Highly doubt it will pass the TL, stay Short and enjoy the 1 way Drop Day. Should it get through, the Upper Zone will likely push it back down.
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Final note until Open, majority of yesterday Open Sessions gains are gone, month end and when the NAZ does not get Propped up in Overnight it does tend to get pretty ugly. Sell/Fade Rips and careful on any Longs.
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Adding Short at 16340 and 16360
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8AM CT, 50 point mechanical move up, will look for this to drop back down. Short targets are 16240 & 16200. Will cover shorts at 16500.
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2 way day and looking for drop, playing FIB levels:
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YEP, coming down.
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Dropped Shorts 5 at 16201.
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Target Hit
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What I was looking for, direction has changed. New Lower Target.
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Strong Long above 16125
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Now you can understand why the NAZ was Propped yesterday. They will try and fake you out. Today is a 2 - 3 way and is normal at direction changes, it may close at low or lower. Careful on any Longs as I mentioned earlier.
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Long at 16125 target 16210.
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16174 is FIB level, no pass close.
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NAZ staying under 16211 (RED Dotted Line, mentioned earlier), most likely not coming back.
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16210, Look Short. Spreads are wide that is why the NAX is moving so much.
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NAZ may try and take out yesterday low for outside day reversal.
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Here we go.
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16158 stay short under.
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Looking for 100 point drop here.
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Real 2 way day, this is nice. Dip buyers are afraid or will be should NAZ tank lower. Sellers are back.
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As you can see, the NAZ really has not broken down yet. Others are ahead.
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16140 was old Support, under here is very bearish. The NAZ will move toward a new support zone 15820 next (this week).
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One last push, then lift. Most likely Overnight.
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Close head fake long, looking real. NAZ looking to move lower next few days.
Trade closed: target reached:
NAZ closes above old Support. Overnight will take NAZ back up as high as it can. Could go Long early this evening and watch.
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The Overnight Propping is not wasting anytime, up 100 in minutes. Good sign that some type of drop is on the way, major offset.
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I was joking about the Prop Job, this is ridiculous. The NAZ is up 165 points from the close, half came in 5 minutes after the close. What has changed in the 5 minutes or 6 hours (10PM CT)? I will start Trading this and post Trades for this purpose. This is easy money, reliable, predictable, steady stuff. Too hard to pass on this!
The circles are Overnight PROPS that happed just after a big down day (like today). The NAZ usually rallies from that point and the trigger appears to be the Overnight PROP. Why would we not Trade this reliable pattern?? The key is that you need to Trade/play the Open Session normally. Watch, tomorrow will be a Long/Up day and the start of a rally back to ATH.
The circles are Overnight PROPS that happed just after a big down day (like today). The NAZ usually rallies from that point and the trigger appears to be the Overnight PROP. Why would we not Trade this reliable pattern?? The key is that you need to Trade/play the Open Session normally. Watch, tomorrow will be a Long/Up day and the start of a rally back to ATH.