NAZ will most likely be propped up in the Overnight (Sunday) as it approaches the no resistance zone. It started as early as after the close on Friday. Since the bounce from 14600, the majority of gains have come in the Overnight Session. You will notice at Open Session (1st 30-60M) the NAZ will drop to near prior Overnight prop level and then climb back up. This was not the case on 10/14. Should the NAZ be propped (prior to Open), it will most likely decline at Open with (checking Overnight Gap) and then just keep dropping (since we are in a no resistance zone). Two targets on decline. Long to 15280 level and reverse Short to either target.
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Long at 15100, target 15180
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Drop & Pop developing, NAZ creating room for the Run up. Should it break above 15133 and stay above, Look for 15180 as 1st Long Target then 15275.
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15055 to 15065, Good level to add to Long. Long will test 15096 (key Level, Friday) pass will test 15140. My general play today is Short and looking for sell off, since we did not get propped in Overnight, next trade is up and then Sell off at failure. Update on All 4, stable:
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NAZ just tested 15055 and held, 10YN is at lowest value YTD. I would think we see a bounce up, prior to any further drop.
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Long add at 55/60 is at 92, needs tp pass 96. Stop at 80 to lock in 20-30 point gain. If you added to prior long, drop 55/60 add and let original run should NAZ break 96.
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NAZ passed 96 and 10YN is off lows, NAZ to Target 133 & 180.
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Should NAZ Stall near 133 or lower Take profit as NAZ may drop near Open.
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Key levels today, Short under 15140 / Long above 15064 / Trade near each in opposite direction until break through.
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If you have profit and want to add a long at 15080, not bad spot.
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Add Long at bottom Key Level 15064, or hold until after Open.
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Ticks negative, let 1st 30M play out. Close Longs at B/E
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Careful under 96, go Short if you want, Not my call just option.
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When NAZ Stalls out at 30-40, Look Short prior to Long.
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Key Levels are working, Not sure NAZ will blast off today?
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NAZ is climbing with weak momentum after the Open. Looks like my call is playing out in reverse. Down and then Up. Careful as this floats, not sure it has legs. I am Flat and pulled 100 or points in Pre Market, Looking to Short this.
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Upper 2nd Target is hit at 15180, Floating on fumes.
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Next upper Target is 15280, Unlikely. Good spot for Short. NAZ in middle of No Resistance zone. Should retest 130 and fail to hold. Just not sure where lift is coming from so I just can't buy this and would rather Short. NAZ is only 25 points above Overnight high.
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15215 is 1st sign of weakness or topping, look for reversal. May or may not happen, FOMO and Dip Buying is play. Also, Algo's and Short Covering may also. We want to buy at highs on strength not trend following. This run should tumble. Face Book Twiter and Tesla are having good days, heavy weight on run.
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Big action, bigger reaction. We have seen this before, NAZ has had 600 point run relatively straight up. The norm would include a wiggle or 3, not straight shot up.
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Aggressive Short: Only if you have profit and Stop 50 up. Low probability trade at 15215.
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Should Short not materialize, Cover and go Long to 15280 - 90. Move Stop to 30 if you plan to follow up.
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I just realized how I reversed call today. The No Resistance Zone from 15130 to 15280 would be an easier move for the Open vs Overnight. This is why the Overnight did not prop and we are seeing the run in the Open. In other words, why waste an easy shot for Overnight when it could be done in Open. Next 2 spots of resistance are 15355 and 15600. Look for 15355 to be taken out in Overnight, should we not see a sell of today. Sorry for mix up. You may have noticed from previous posts, hard resistance in Open, usually gets taken out in Overnight.
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50 point stop Short in play, target 15195 and 15135, if you took.
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All 4 Hammers showing up:
Trade closed: target reached:
upper target hit, one way day for Tech.