NAZ did test slightly higher today and was rejected. I mentioned on Monday that we may see some sideways channel/range movement, looking for NAZ to test lower Yellow Line for verification bounce or bust. Sell rallies and buy lower dip (Yellow Line). The white TL is a Mid Day wall that usually keeps the NAZ trending lower, until it breaks to the upside. Most likely see lift prior to Open and then test of lower level.
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6:30 AM CT, Overnight lift to top range, next the NAZ should dip lower to test 14800 with deeper test at 14700. The 14700 is less likely looking at current price action/other indexes.
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NAZ may be targeting 14975 as upper target pivot. The current pop came at 4AM CT with 50 point 30 minute move. Careful on support under this move. Looking to short side once NAZ stalls, will update.
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NAZ at high of pivot level 14970, from here we need to see if the NAZ can take out yesterday high? This would be the area to Short (only short after confirmation).
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You guys are too good, just answered post below. The NAZ is playing out like we thought, I think will go lower in days to come. In and out today. Like I said last night in opening: Sell rallies and But dips.
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Watch the White arrow, could be next big move, the NAZ is due for such. Would also set up a nice Long:
Trade closed manually:
NAZ is range from 14960 to 14880, break above is Long and below is Short. I would look to Short side for next few days, today may stay up or in range, watch the close. Sorry for delay today, was not online.
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Update on All 4 Indexes, looking like a rollover.
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Caution here, NAZ may follow the white TL down.