NAZ on fumes may need to drop some for a bounce. Narrow, Fed day, No Ticks, Low Volume in Overnight, just thinking we see a Drop today. Just not much to go on lately and when that is the case, I like to Go Short. This could all change at 2PM ET, will need to paly Intraday PA. Key Levels: 15965 Upper / 15956 Lower, I will update these once we get some price movement (would be nice).
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Diag TL, NAZ typically follows these down:
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NAZ back in Key level Range, under 73. target 56 bounce or trade.
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Need to play Key levels, closed 3 Shorts from yesterday at 15953, Flat
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Look Short below 15985 and Long above.
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NAZ hit 15985 and went near 73. Dip buyers are Strong, This may fade as we get closer to 2PM ET. Stepping away. Careful, today looks like garbage trading.
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Diag TL Update, NAZ may head back down, usually does. NAZ needed to Drop in order to try the Pop, stalling play TL.
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Short at top of 30M or buy at bottom, depending on bias. Today will Whipsaw and I am FLAT.
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15985 is Holding as resistance.
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Before:
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16125 Upside or Short target.
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15960 is currently support for upside, NAZ is riding TL up, waiting for EOD or next hour.
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Thinking, Run up and Drop. Could reverse soon and approach 15900. Very Narrow day for a Fed Day, look for break out, again favor drop.
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Snow Job continues, careful on Shorting. Not feeling it as cheep talk works wonders these days. May have to wait until NAZ just comes to a stall, going Long is just as risky with, I think limited upside.
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After: Looking at my notes and Long above 15985 is playing out, just unexpected:
Trade closed manually:
Wow, Long was the trade.
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Followers, Sorry for the miss on the Long. I did not call Short, it could of been much worst. We will make it up on the way down. Do not Short the Overnight, it will just keep climbing to Pivot at 16205. I have seen this go way upp and give back. Usually prior to a Jobs number day and always in Overnight.
Play range in-between and Long above Upper and Short below Lower.