The Danger Zone (15900) did get a 1 minutes retest prior to floating up 125 points in the O/N, typical. I believe the NAZ will need to use all the Rig Tricks that are available to offset the Pull Back Drop that is on the way by month end. O/N Mid Level is 15973 and KLOD is 15985, 16073 is TLX and may get a retest. TLX rejection may send it back to bottom of weekly Holiday PA range or back to KLOD, if hold at KLOD it may rally to KL 16155. I will Update on Teams.
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Today may be a key day as the NAZ dropped 200 point (in O/N and Reg Session). Only to be redirected in the O/N. So the Reg Session Open Range will be the key to next big move. The O/R usually sells off 1st, this may be just another O/N drop offset or Pump/Dump. You have to keep track of the tricks and when the tricks were used (which Session) in order to get in the game flow of garbage PA Trading.
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And do not think that this is NOT possible.
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Yellow Arrow is Open Range (1st 30M).
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Yesterdays total contract was 650,000 with 100,000 or so the O/N. Today we have 100K O/N and we have retraced most of the loss of yesterday's total volume. You may see the off balance based on Long/Short and Session. The math is way off and the O/N is one sided (Long usually). The Reg Session with higher volume still struggles to drop the NAZ. This is what is confusing to many and get trapped in the Whipsaw when real trading days/PA show up.
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10YN may tank today, this will hurt stocks.
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16086 is KL to watch and Blue Box below would move if 10YN does Drop.
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Divergence for Open, can go either way and this is Bearish now. Stoch can Hook lower or POP here. I would think that that a quick drop test may show up at 16070-90 rejection.
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Many times the O/N High is the High of the entire day, should the Rig move up and drop, watch for NAZ to stay under O/N High during Reg Session. Crude is -4%, can't be good.
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Good Luck today and have a great Holiday. Next move may be slight drop. 1st move did hit 1st upper targets. Pattern is that the O/N is used to lift the NAZ and secure a level for any Drop to offset. Many times the next move is lower and stays under O/N high. May be different since Holiday and low volume, That may help NAZ to Rocket Higher.
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Watch here
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NAZ is still under O/N High, that is all you need to watch.
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This is what to look for on Strong Short side.
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TLX keeps rejecting the NAZ, we are in the REAL Session and not the Mickey Mouse O/N.
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Dead Zone Tricks are next and then the Drop or sideways into the Close
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16086 is KL for Short and sending NAZ back under TLX 16073
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10YN Update