NAZ is out of the Box and the trusted "Drop & Pop" sequenced failed today. We had no sign of "Dip Buyers", after a decent dip. Looking for NAZ to test up (slightly in Box) near bottom of Box and then test lower at a key level just outside the Box (White Line).
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Lower Target is hit and I am adding next potential Lower. EU is down 1.5 - 2%, we may follow lower. Expect some dip buying and whipsaw.
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Play moves between 14792 and Low (14710), 14760 is a Daily Pivot. NAZ will run to 92, fail and head to 60 or pass and go higher until fail, then back to 92 , 60, 10, etc. You get the picture, station to station trading, NAZ will move quickly so I will not be typing as much and checking in when I can.
Good Luck and use targets or specified points to take profit, EX Long with 20 point Closing Order. You can do these all dauy long in a channel. The above are the key and turning points.
Good Luck and use targets or specified points to take profit, EX Long with 20 point Closing Order. You can do these all dauy long in a channel. The above are the key and turning points.
Comment:
NAZ moving between 14800 and 14740, a 60 point channel. Like yesterday, you will see a repeated Test at a level and at failure look for reversal and aim at target in opposite direction. Yesterday (Short Under 15030) was a good example. Now I am looking at 14734 (support) and 14795 (resistance), waiting for move through either (and confirmation).
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Lower Target, Update:
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14740 did hold and now we are testing 14850 as resistance.
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Look to Short if you see a Stall by EU Close.
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Testing Bottom of Box, Look to Short this:
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Stay Short under 14900, will target 14785
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Short from 14880 got to 14825 or 55 points, not projected 14785. Long Bounce is good and back to Starting point 14900. Look for failure here and re short. Long if NAZ really pulls away.
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Russell and Dow are off, EU was down Big and the NAZ is up. This could be a Head Fake that could snap, quickly. If you are Long, be careful. I am stepping away and flat.
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Top of 15000 is the Short back to 14900. FYI, 14970 is the resistance level to Short under. The 2 levels are, Short under 14970 and Long above 14734. 14900 is Middle and used for turns. Point and shoot these levels, have fun.
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We will see if the 14900 to 15000 was a Trap or head fake. Most likely, it was or will be today or tomorrow. Yesterday we had the bounce off 14925 back to 15030, then the drop to 14840. Today is reversed or could be major Long run or deceptive head fake. 14900 must hold for Long.
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Out of Bottom of Box, Targeting 14795. Head Fake on previous Long is likely.
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NAZ back at key level of 14970, needs to pass and stay above by close.
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Light volume day, NAZ needs to stay above 14900 by close. M forming on 30 min, these have never materialized in recent days. Things are changing.
Trade closed manually:
Whipsaw PA today. NAZ basically went from Pivot Point to Pivot Point. Technical moves on low volume. I am on vacation, FYI. Will be back early next week, checking in and placing a few. Watch the Key levels of the day.