NAZ could most likely be consolidating to go higher. No major sell off, drifting lower. May find support below for a upper test. Should other 3 retrace, NAZ could go either way and hard to tell how rotation shift will play out. Not feeling strong sell off, more like decent dip buying opportunity developing. Look for NAZ to run up, stall and retrace. Should reverse play out, Long opportunity should be decent.
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Friday's Long at 14340 has held. When the NAZ does not go lower, it will move higher. Currently coming out of channel and aiming higher. 90 is high and take profit prior to open and renter.
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Channel:
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Continued failure near 90, look to short side and target bottom Range.
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Open or after, expect test of 50 for test, potential bounce toward 90 or lower test for bounce. Close Long near 90 and renter or Short to 50.
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Upper Target is hit, Thursday high tested, should PB to 14350 at some time this morning.
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No Short near 14390 since it did not fail. Look to short at upper target at Stalled attempts to go higher. 14482 is high and should wait on short, failure to go higher a few times is signal.
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Dow and Russell are not climbing and rotation shift may be moving to Tech, I did mention this in opening. NAZ is 523 points and 3.75% on Long Run with no major PB.
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2nd 80 test and selling High Neg Ticks in SP, DJIA and Russell. May hit NAZ next, now to EU close since down. Target 14440 PB Support.
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3rd attempt to 14488, now at 66. Short developing, may attempt 4th and fail, should be signal.
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Do not Short yet, EU Close bringing down. NAZ will pop back up and try again after EU Close. If anything, buy this dip to 50 40 PB Support.
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Upper Target is 14550, should Long Continue? PB Support is 14440, FAANG look in line with Index, 10YN Up, B Coin, should lift some more, target 85.
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4th attempt, 14460 hit 82, watch for quick drop & pop. Should other decline further, drop & No Pop.
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Divergence at 85 90, could see drop here.
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Targeting 14455 for test.
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NAZ is about 50 points above FAANG return, may see drop. One Way NAZ is rolling.
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Short under 95
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Short working out, SL at Buy in Target 40
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Earlier targeting of 55 got to 58. Now targeting 40 & 30. Should NAZ not approach levels, cover Short.
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Should see retest of 58. Watch Head Fake.
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58 is top of 1st half hour, break below is bearish for EOD.
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Short Set Up, Long for next 30 - 45 minutes. Looking to go Short by next Open.
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You can Short all the way up, this will snap back in next day or so.
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One way day, NAZ got to 24 points away from 14544 TL Target. Propping for month and Quarter end. Stronger propping than I anticipated, hold off on short until EOD or tomorrow.
Trade closed manually:
Looking Short, Next.