Monday played out as planned with 200 point 30M pop towards the EOD. Today we have the Overnight Prop with slight drop. Thinking NAZ will test higher prior to further decline. Also thinking that the slight drop from Overnight Pop is a head fake Short. Long white and Short Yellow arrows at Orange TL. Look Long today until failed attempts upward have been somewhat exhausted.
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2HR Box Chart, NAZ near Mid level with decent bounce off lower.
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This could easily play out. Big Action creates a Bigger Reaction. The white arrow is the projection from double top (left) to Box Top (right). Should this play out and stall, that would be the next Short play. This may take a few days to play out and we may see some big swings tomorrow (Fed Day).
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NAZ is struggling when they price lifts higher, seller comes in every time. May see this under Orange TL. Low was yesterday 1st 30M Bottom.
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PA is similar to yesterday, slow drop no force. We may see same ending with a Pop.
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I am flat took 1st 980 hit for a run up. We may see a drop as upper wicks may be an issue, Top Mop look
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Watch Head Fake Long here at top 1st 30M, need to see pass and retest.
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Missed it, called it in original Post. Lets see if it can go higher. The Long PA is so weak. Not ready to commit just yet.
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When it looks like an EKG, I do not commit easily. May have missed this one.
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Whatever you do, do not trade Long when Stoch is Overbought. This could easily be a Run up or Short set up, watch the Ticks.
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Sitting at Overnight High. Which was many hours ago. May see Tops 1st 30M retest.
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Short developing on IDS 20. Not confirmed yet.
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Short Under Yellow
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Update IDS 50
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Zero Strength NAZ is back. Gets under Top 1st 30M, should drop to lower 1st 30M.
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Good Bye
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13114 test, next. Look Short Under.
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Still looks like an EKG. Bad for Longs and better for Shorting. Sell rally stalls, FYI.
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13040 is support, no hold going lower
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Had to step out, Flat after Short to 040.
Trade closed manually
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No Post Today on 5-4, FED Day.
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Lower Yellow is still in tacked. Lower white lines are lower targets, look for bounce should it get lower.
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Careful, Short Developing under/near 060.
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No real reason why NAZ lifted back up.
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Fed Days are like a Pinball machine, it will bounce off S/R's super fast. Too hard to trade. Better to use targets and stops and hope for the best. Stalls drop, then reverse and cycle just continues.
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Look familiar
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I have seen these moves up come all the back the next day. Short time period jumps after days of down movement, for what reason? Algo's, lets see how the next few days play out.
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May 5th, Out Today. May be a 1 way day lower.
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Rally selling appears to be back and ZERO NAZ may be back. In November the NAZ ran 600-700 points on a Fed Day 1 hour bounce and the next day it all went away. Just keep this in mind should the rally selling persist.