NAZ at Bottom of Box, looking for bounce. No way they let this thing really drop out of the zone. If so, I have provided the potential target. No Propping in Overnight is not good, the NAZ usually does not do well when it comes off a flat Overnight. I would think that NAZ gets back up to Mid Box or so, prior to next big move lower. Key Level: 15980 Upper / No Lower, Long above Upper
Prior Box Chart:
Prior Box Chart:
Comment:
Lower KL is 15830, Long above. NAZ pulling Drop & Pop. Strong Long above 15830. Looking for next move up toward 15950.
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Pre Open Call, Long REC at 15830
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10YN is moving up, Crude dropping. May see Safety in Tech play today. Apple is dragging NAZ for now.
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15940 may be limit for Long.
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KL 15980 may be strong resistance, closing near.
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Not seeing Rocket straight up today, more chop and testing and retesting.
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The Open 150 point Long trade was easy. Flat and what the Chop today, it will get harder as the days goes on.
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Mix in a Short here at 16025, to 15950.
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Short Target hit, close for 75 point gain.
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Selling is back, look for NAZ to stay in the Box, counter trade on drops near bottom.
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NAZ will approach lower KL and bounce.
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If you go Long use a STOP. FAANG dropping.
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May see NAZ get Boxed out of the Box, use a stop.
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Stay with KL to KL.
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Should bounce off Bottom of Box.
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Great 2 Way day and the movement has generated 300 points, this is what we are looking for. Stepping away.
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Looking like decent Support at Box Bottom, play dips up.
Trade closed manually:
I am leaving early today. NAZ is confused and does not know which way to go. ML of range is 16940, NAZ will move out of Box or into ML of BOX by EOD. No idea at this time, the move will be decent though.
Comment:
Just looking over the close. Make sure if you are Long to close out at the close each night. The attached is a 1HR on the Box. Since 11/22 it seems like the NAZ shifted gears.
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3AM CT Friday, Update, Looking like Long Bounce: