The YTD returns of our major Indexes can be viewed 2 ways, decent or very bad. The decent is the they are only down 7-18% (after 4 months, no up, War, Inflation, etc.) and the very bad is idea the they could easily drop double from current YTD levels. No QE on the way, how will these markets lift? Were will they lift too? What happens when they stall? Previous bounce off 13,000 was a 12 day 2,250 pop. We lost almost half of that in the previous 2 sessions. Chart below was posted on 4-9-22, looks like we are taking the Yellow arrow option. The Red Time Bracket is the average time (5-4 end) of a move. Use Box Bottom (yellow line) or 2 lower white lines as Short/Long targets as I believe that we will not see the YTD returns of Indexes get much worse than YTD lows (I do not see the very bad scenario).
NQ Channel Chart
NQ Channel Chart
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On 4-25 chart, mid channel hold follow White and break follow Yellow.
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Many Smart Money managers have been waiting for the heavy drop on high volume with a hold. The 2 day 1,000 drop may be playing into this potential next move.
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NQ volume the past 4 days is on the rise. The IDS 50 Chart below shows the 1st 30m and final hour. These areas are much wider than normal. Just a sign of heavy volume (CME Site) confirmed at key times.
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Another view on daily when Negative Volume turns (yellow line).
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Pre Open Long at 13220 and above to 13300
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Long target 13325
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13233 is support, NAZ needs to pass 13260 for Long to move and may see 1 way day with retrace back to 13700.
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13220 Long to 13300 or 13325, may Pull Back to 60 at/after Open.
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Circle is PB or Short developing, NAZ looking like may see some Pop.
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Follow White Arrow, mystery Pop coming, all you can do is Scalp in the Range.
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1 way on it way, 13475 next.
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PB coming, watch the 13480 90 level.
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Stepping away, PA not making much sense.
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Playing 1st 30M range.
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Yellow Lines are top/bottom 1st 30 M
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Short
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Above TLX 13112 look long.
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Go short below to bottom 1st 30M
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PB
Trade closed manually:
Pre Open Long at 13320 and above was the good for the day. NAZ may lift in Overnight and Drop tomorrow.
