The strangest Bear Market, only gains in Overnight with selling in Open Session. This has continued to offset the decline and may actually redirect this Bear (for next few days). This will likely happen and attempt the pattern of "Buy in May". White arrow is Long above TLX (red line) and Yellow below TLX is Short. Other Yellow is the anticipated drop/pop. The 2 yellow lines are the play/break out zone. I believe NAZ will attempt to get back to Old Lows/Box Bottom. This assuming the Open Sell off holds, the Shorts start to cover some then BTD's come in, etc. Flip side, Dow & SP are not down much YTD and the Overnight action has NOT had any big moves lower (the opposite). Could there be a next leg lower and will the normal Bear price action show up (Overnight/Open)?
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Short below or no pas at 12560 and look Long hold at 12390. These are the trade zones today. Long break, wait for retest same for Short break.
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From 12475 to 12530 looks fake or too perfect, Short this with 40-50 point stop at or near 12560, worth a try.
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IDS 50, Divergence could go either way. Potential Short set up prior to CPI. Run up in Overnight is likely just another Prop Offset, this has been the pattern. Break and retest above 60 is a Long.
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So far we have a TLX bounce and needs to hit/pass 12560. No pass and drop back under TLX (my play), play to lower targets as short and look for hold/bounce.
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No Strength NAZ will show up prior to a bounce.
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Bad CPI is a Long Trap.
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If you are Short, lower stop or leave at Buy in.
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60 and TLX is range.
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Any bounce stall will be sold off.
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Yep Trap
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Usual predictable BS
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Prop Offset, may lift. Flat now.
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Let it lift and go Short after Open, Stepping away.
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The white circle was the clue that the strength was fake. This was a BS move up and set up the prop to drop.
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280 to 450 is Key Range, play in opposite directions and follow on breaks.
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Careful today, NAZ may have big counter move just prior to bigger move. Stepping away. Example, quick drop then big move higher or reverse that with big move up with bigger drop.
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NAZ at 280 and is coming from below. Tricky here and may drop back down should 280 not hold.
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White TL is next hurdle, no pass SHORT the NAZ.
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12340 retest and Hold, go Long.
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Crazy but look Long above 12190 with Stop. Propping and Magic Moves on the way.
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Long Target is 12480
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Look for a Bounce, they will not let the NAZ drop
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Today is outside reversal day and may be to the up side, look long. May see that big move that I was mentioning.
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"BUY In May" this could be it!!
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NAZ should break the 2 TL's and head Up.
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If you are Long, Hold into Close and after hours. Trail it Up.
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NAZ may be mopping up before it heads North. We shall see. We know that the Overnight will lift things up so jump on NOW.
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No go on the Pop, what was I thinking. That would of been 2 way action, that just does not exist. So Overnight may or may not Prop, I am just thinking that we may see reality with a big down Overnight. I think the Pop/Drop flow is getting old after 4.5 months. We may see a Real Bear show up. If that is the case, My joke of Buy in May In May go back to Sell In My.
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Volume the past 4 days has been high, we may see a bottom bounce this week.
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Same game plan, 100 point Drop/Pop under way in Overnight. May see back and forth if bottoming. Only gains for NAZ are in off session.
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Should gimmick work, NAZ will target 12300.
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Trail Stop, will fall by Open.
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Key Push and why I feel the NAZ will get back in the Channel. If not, heading South with force,
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Til the morning, if ever they needed to Prop it is tonight. Asia is down, EU next. US to Prop and change the direction.
