Looking for a bounce back into the Box. NAZ in narrow range in Overnight and other 3 majors are not down as much. Yesterday looked like a Long Liquidation day with some selling of Futures today. Just seems like NAZ is struggling to get lower. NAZ is currently between 2 TLX's, should it get and stay above these they will be strong support. In 12-16 Post, I mentioned that there was no resistance above the Box Top and that the NAZ would approach ATH by year end. The other item is that maybe there was not enough sellers to satisfy the buyers in the area. One way to solve that is to force the sellers into buyers ahead of the move, then take the price higher. This may or not play out, just a thought. Should it (next few days), the NAZ will snap quickly to the upside over the next day or so. Chart example: When retail is in distributing shares, institutional is accumulating.
Comment:
KL's 15836 Upper / 15705 Lower, Odd that we are starting out at Lower KL, this would suggest a Long trade off the bat, this is unusual.
Comment:
NAZ seems to be holding at a level while other 3 are starting to decline more, 10YN is up so yields are steady or not rising. FNG1 is in line with NAZ, may see sideways to up rather than further decline, or not.
Comment:
KL's are working Stay Long, reload after taking profit on trades, stepping away.
Comment:
Stay with it, sideways and now should be up to target or beyond.
Comment:
Crazy volatility today. NAZ now has negative volume and is declining. This may change and reverse up.
Comment:
New Upper KL is 15863
Comment:
PB to 750 and Long above. Place stop at 45. Or no trade, sideways PA.
Comment:
KL's working well in opposite direction trades.
Comment:
Upper KL is target and may break through. After 2-3 hits of KL look for break through.
Comment:
Confusing but support is 80, when it holds go Long to Upper KL. At KL Reverse or hold after 2-3 hits. First 2-3 hits at KL go opposite.
Comment:
NAZ picks up strength on drop, hits support and then bounces back up.
Comment:
Look long passed 20, only to 60
Comment:
Needs to pass 20, trying now. Fail look short to passed 80. Pick a play and watch ticks.
Comment:
Volatility will pick up the final hour.
Trade closed manually:
Have a great weekend.