We saw the NAZ dip in the overnight and again during the open session. Immediately after the close, it goes up near prior mid/high. Holiday, light volume, Asia Up, etc. GO LONG. If the NAZ does not stay down, it will go up. All 4 US Index are up (7:45PM CT), ride the wave up into the month end. Tomorrows close may be interesting.
Comment:
Play the channel, not much else to do. We have about 60 PT range. Short at top and buy at bottom. I was kind of joking about the Run Up. Although the NAZ will generate 200 - 300 PTS of intraday movement and a 100 - 150 point run up would take care of much of that when nobody is expecting it.
Comment:
Long above 13686, projecting 13760 Close
Comment:
Use close trail, got a feeling any gain will evaporate by EOD.
Comment:
May be at limmit? close SL
Comment:
12:20 PM CT, 13760 was most likely the top end, NAZ may go back down to mid range. We are well above long term TL, may retest that prior to going higher today.
Trade closed manually:
NAZ sitting in 100 point BOX. Did get to 13763 and dropped and I think negative on the month. Have a great Holiday.