NAZ banging on ceiling (3rd time in 4 months), do we retest 12900? Couple big days could easily make it happen. Having trouble breaking this level, retest may be in near future.
NAZ Range, testing upper and lower range. Weakness or selling will pick up after the upper test failure. NAZ will most likely try for a decent bounce off lower range at some point, failure or stalling near upper will be followed by a significant move lower. Other 3 indexes are staying down, these will need to come off lows and move (stay) higher. NAZ 13600 is a...
NAZ had strength intraday today, why? Short covering, 10YN up or financials sell off? What ever the reason, it may continue, going with Range of play. I will update as it unfolds and try to do my best. Friday could be a prop up in Overnight as other world markets should lift and then the potential late Friday take profit near close. The 6-17-21, 325 point run...
Should be a wide Range tomorrow, looking on the Short side. Expecting failed bounces and head fakes. Thinking that many will want out at these levels and enjoy the balance of Summer.
NAZ will react to Fed Minutes, movement will be wide with weakness expected at times (release). NAZ did not show much strength today to recover after Open. The previous 2 sessions NAZ did have strength to over come the drop after Open. Not impressive for an Index that is at all time highs. Since may 25th, major intraday moves are: Shorts 127 points and Longs 145...
Today's Long Call rose slightly higher than I forecasted and the NAZ has two days in a row, faded and recovered to close higher than overnight high. This is very unusual and a good sign for the bulls. Light selling pressure today and on Friday. Not sure how long this will last, for now forecasting the Range. Decent amount of news releases in the morning, could be a factor.
NAZ will test recent high before any move lower. The TL (blue) has been good support, no significant news until Tuesday at 7:30 CT. Buy dips, target all time high. No significant presence of sellers or heavy selling, there have been a few spots that would of been opportunities for sellers to step in.
Looking to test all time high and retreat back lower. Looking at 13840 level as PB support. We may see heavy propping up in overnight to Open, then slow steady decline to close.
NAZ held at lower range, Tech is probably favored over other indexes. 10YN is up after auction. Sellers could not take it lower, look for another retest of high level next. CPI and Jobless tomorrow, I am sure they will make it look good enough to maintain levels.
After some propping overnight Monday, the NAZ did test the 13760 (top Box) level and is also above Blue TL. The direction is most likely higher for a test of 13900 level. Today did have some selling that was supported by major POC at 13740. Would be surprised if NAZ goes lower (back in Box), prior to testing upper range 1st. We did see a Short set up (this...
NAZ did not move with strength today and may have trouble moving higher. I believe the NAZ is going to test top box level and break lower. Do not put much weight on any overnight moves, these will not hold once Open session fires up. Expect NAZ to test higher pivot and then fall to lower pivot, continued chop and selling will pick up since the level is basically...
NAZ blew through the 7 day Box Zone and settled on top. Easy move to retest upper POC. May test lower at 16390, prior to move or just weekend/overnight propping prior to Monday Open.
Big action, Bigger reaction. Tomorrow should clean out shorts and create some covering. Today was a Long set up.
Out of the bottom of 7 day range Box. Providing potential plays, take your pick. so far today, 100 of 200-300 intraday points have been generated. These moves will provide the potential that will help generate the (recent typical) balance. I am not thinking we will see a 200 up or down, just more chop today.
NAZ is below TL (Blue) and could not get passed the TL X (White). Providing range of activity for tomorrow. The NAZ appeared to be on its way up, until the news broke about cap gains/step up potential changes. Staying on Long side, most likely after a test in bottom range.
As a follow up to my 2 month report, I have updated the activity to include May. March - May point totals: March 2642 / NAZ 705 April 950 / NAZ 800 May 1150 / NAZ -150 4762 vs 1355, Intraday 2 way trading provides double the opportunity. I hope the followers are ahead.
New week & new month, upper target 13960. Fresh money coming in and short it all the day after (6-2-21).
We saw the NAZ dip in the overnight and again during the open session. Immediately after the close, it goes up near prior mid/high. Holiday, light volume, Asia Up, etc. GO LONG. If the NAZ does not stay down, it will go up. All 4 US Index are up (7:45PM CT), ride the wave up into the month end. Tomorrows close may be interesting.