Next week range of PA. Will update daily on Monday.
Range day, Overnight may be a head fake. Going with eventual retest near 14000 in days to come. Will update as we go today.
Expanding out of intraday view with a 1st Quarter Range projection. The July/2021 post of the year end close was 3 weeks off (timing is everything in trading), target hit and NAZ is now 400 points under. Keys to chart: White Box, Long Zones / Red Circles, Short Zones / Red Lines, TLX's (pause/reversal zones), / Yellow Circle, 7/3/21 post/start price Period...
Not in early next week. Let's see how this works out. Thinking we are at/near Bottom for a bounce to targets mentioned. NAZ extreme low is 13030, looking for bounce near 13250 or 13100. Friday had the lowest Futures volume YTD, looking for a reversal off low vol sell day. May see some Propping action prior to big run up (Overnight at 3AM CT, usually), miss that...
Narrow day, most likely. Play to Short side and expect failed Pop's. The next move up will most likely happen over the Sunday/Monday Overnight Session. The 14200 is Key Level to next move up, next upper target. Long above and Short below.
Original post on 1/23, NAZ back in a Buy Zone. YTD the NAZ is near the 20% decline form ATH, we may see a technical bounce toward the Red Circle and Mid TL.
NAZ may drop back to 13600, 13825 will have strong resistance. FED day, not much until release of decision. May see slow drop back to 13600 (Drop/Pop).
NAZ Overnight tested KL 13495 (mentioned yesterday), look for Drop/Pop today. After Open, NAZ may drop to 13726 and bounce to Upper Target. Short under 13726 and Long above. KL's 13726 Upper / 13495 Lower
Unless yesterday was an offset Prop for another Leg lower, the 13600 level is good for a move up (back to Box bottom). CPI today, the offset idea may be in play so this forecast can easily be a Short back to lows (I would not doubt this).
NAZ had to go to the Overnight Prop Play for 300 points to get out of the ditch. Diagonal Orange TL, white arrow (Long) and Yellow (Short). The white arrow 2nd move is a possibility should things get overblown (very likely). May see Drop/Pop to Mid Channel prior to move up. Buy Dip day and stay away from shorting.
NAZ break of Orange TL and Curved TL is a Long. NAZ may get going prior to Open Session as EU markets are up and tested lower TLX for a bounce. It may not retest lower today (FOMO). Long above 13270 and Short below. 4HR Chart
White Line Up and Yellow Down. NAZ in position to go either way, follow the PA. The Overnight bottom appears to be a DB on 30M, watch Gap Fill and top of Channel. KL 13575 is likely for bounce, Long above White line 13605 and Short below. NAZ just tested and rejected at 13778 (KL for bounce on Friday). Watch the attempts to pass, no pass Short back to 123605 level.
NAZ tested Box Bottom Overnight after falling through. 14100 will be strong resistance, if NAZ stays above red mid line on channel look Long and below, look Short. Chart shows no support below and heavy resistance above, Jobs number and Propping will have to be strong. You may look (expect a rally), this rally may sell off after Open. KL's 14234 / 14012, FIB...
NAZ Rounding Over, Long on White arrow and Short on Yellow. No Propping tonight, EU Markets are lower and NAZ usually sells off after Open. When these are combined, the Open 1st 15M sell off usually is all it takes, Short is best option. KL's are Yellow Lines, play range between until break out.
NAZ back in the Box and heading up today. Overnight had Double Bottom and fill Gap from Sunday Open (again). Powel to talk later, watch the fake Drop Shake Out. Orange Line is top of Long Term Channel (1/1/22). Long above Upper KL and Short below. May see Drop/Pop should NAZ not pass Orange TL or Upper KL. KL's 14152 Upper / 13950 Lower / Use TLX Channels as...
Stalling NAZ is a falling NAZ, no prop in Overnight is not a good thing. Could be wrong, just not feeling it on the upside as the knee jerk is loosing steam. Sell rallies today, should be 1 way day, mostly. Our this week so limited updates.
NAZ actually still in downtrend from 1/1, recent is technical bounce that may have to retest lower. New Main TLX chart (Red Lines), these are more or less price channels. The TLX price channel (Blue Lines) are slippage or rotation range around the TLX. Example: Friday when 13856 was hit (Drop/Pop), I called the 13840 as Buy Zone. Once NAZ passed TLX (after bounce...
TLX 13706 was near support for a bounce toward TLX 14101, this may be the range of play today. Long above 13801 and Short below. KL's are two TLX's mentioned.