Monday's are Long and O/N has Propped the NAZ back up for the lift/drop offset to start the week. The playbook has not changed. the NAZ is back to Friday high with ease, Gap fil below (blue box) and FA's (orange zones) above and below. Look for Mid O/N retest KL 14338 and KLOD is 14331. Long above KLOD and short below. Play targets above KLOD and below after Open Range (1st 30M). Today is day 13 of drop from October high (8.5% drop and 10% drop from September High), looking for technical bounce and typical Monday BTD/FOMO strategy #1 & only. Will update on Teams.
Comment:
Drop/Pop off Mid O/N, KLOD, FA or Gap Fill. Take your pick and watch the NAZ rotate the KLOD and then rally higher near Dead Zone, let it run and do not Short this. Friday under 200MA just kept retesting, does not want to be under and they will do all they can to lift the NAZ away from the Danger Zone (below 200MA).
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Yellow Box is the idea, next 2 days or so. Back to bottom of Channel for next Short.
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No Limit Down O/N and closing on 2 years, just not going to happen and O/N is consistently offsetting and near danger zone PA. Short covering, BTD and FOMO's will most likely move it higher.
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War Chatter and 10YN is dropping, may be reason for the O/N Prop Job and if so, the Long is GONE. Yellow arrow in daily forecast is Range for break out.
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Red Lines are divergence, expect a drop.
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Hook Short / drop test on the way. Going Private, may be a 2-way day for 1st hour or of Open.
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Note: Whipsaw Shakeout PA has been persistent past 2 months. Pump/Dump (why not), then BTD/FOMO Dead Zone lift. Full day of typical plays and the drop near close and then rally in O/N. Funny but this has been the pattern. Since Wednesdays O/N the NAZ has basically been in the range of 14390-290. This may be consolidation for move lower should the forecast be off, FYI.
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1st upper FA Gone.
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at 465, 420-520 is range here
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Long above 420 for 2nd 480 retest.
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480 pass is 520
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Above 200 MA today, may see NAZ rally mid day.
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Strange but NAZ is more likely to Snap to the upside today. Will check in later.
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KLOD has held for multiple hits
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Rejected at Mid O/R
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No Gap fil or MA 200 retest, may see that if no pass at 14405
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Divergence and SZ's below, may see slight drop.
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Circles are 4 Longs from the KLOD on Hold. Still Scalp PA, no trend break outs just Chop.
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405 no hold retest may go back to KLOD
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On short wait for pop Spike with Stoch O/S
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Spike and Stoch for Scalp Short
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405-51 is range
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458 break is 480
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480 rejected to 405
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KLOD #5 Long Scalp in O/N. Old SZ's got taken out on O/N drop.
Trade closed: target reached