Just a feeling and sticking with it. Price action can be misleading, I think the NAZ needs to retest below before it gets higher. Overnight trading will be key. Long weekend coming up and Friday should be light. Thursday should be a good mix of buying & selling.
Today, I was looking for 2 way movement and we got 1 1/2. Started the day with a Short and it never bounced. "LZ Flip" for those that follow, should target below and watch for head fake.
Still looking for 2 way movement, we need to see this. Monday was all buying and some selling at close. The intraday moves are just not present, this is odd. Above Monday's projected target, the NAZ could not get passed & hold 2 (resistance and TL). This while mostly all buying action. Looking for failure above and potential drop near below target. Chart below...
Friday was clearly a Long Liquidation Day. I feel that Monday will provide some 2 way action. Quick Long Scalp, from current to 13440 (LZ), this may go as high as 13510 (POC). Failure or Long Set Up higher, would most likely push NAZ down to 13360, should bounce again to upper level test (2nd) 13510. Break takes it higher (Yellow Arrow) and failure back down to...
Going with overnight propping to Open and after, sideways to down for balance of Friday. However, since the NAZ has easy ground to make up, we may see a low volume "Vertical Rocket" Open Session. This would be added, after the pre Open propping and take it near 13800. Get in early, just a feeling. Level 13600 has a significant POC/Block and 13400 has good support.
Once again the NAZ would not go lower, when in position to drop big. Going with a Long for balance of the week. 13120 is PB support and 13507 is upper POC target, major TL (yellow line) should not be a problem. 2 direction trading came back today, I would guess that tomorrow is back to the 1 direction method (Long).
NAZ dropped 110 points in the final 30 minutes of trading. Prior, it was in a slow moving narrow range. Tomorrow will be a key direction dictating day. While it appears to be developing a Short opportunity, we have been here many times before. Yellow is projected price action and Blue are Targets. Looking to buy dips near lower range, after a failed run to mid...
Monday's price action was not convincing to the downside, looking Long tomorrow. NAZ basically tested the level below and buyers came in in the last 90 minutes to drive it back up. As I have stated "the NAZ has had many opportunities to get extremely low, but will not". Long term TL may push it back down to 13280 for a major pop to upper targets. We need to see...
NAZ got lift pre market (light volume) on Friday and ran up (Open Session) on relatively light volume. Expecting slight drop and run to targets shown (white arrows). The angles analysis shown has been reliable, any above 50% usually sees a pull back or reverse. Friday's wasn't too bad, being above 50% and having light volume would be the concern.
NAZ lifted 175 points from close (Air Bubble), will need to hold during Open Session. Going with drop & pop, will test lower at Open and should VA not hold, back to AB start. Should NAZ get lower to 13075 level, great place for buy, May 11 and today Low (should hold). Retail Sales 1 hour prior IP 15 prior and U Mich at 30 after Open, only news items. Should be...
NAZ playing game of prior lows, which are getting narrower. Yellow Solid Line Prior lows, Yellow Dash Range & White Dash is likely 1st move to test direction change. The TL X's have been reliable turning points, mentioned this level yesterday. I think we see bounce to sideways, prior to any move lower. This is an aggressive call. Place buys at day low and shorts...
NQ looking for a bounce, has had too many opportunities to go lower and has not. Going with Long. We may see decent dip prior to Long Rally. Use close stop should you go long. I just can't see after all the Fed stimulus and such, they let the markets seriously decline. View attached 4 Index Chart, NAZ & Russell look like potential rebound but all 4 are at pivotal...
NAZ will mostly likely try to recover at first attempt to prior DB low. Failed pass will most likely develop another major drop to lower support. Today was a major Tech sell off and started mid Friday after the minor bounce (after 5-7 days) of selling. Short rally's and watched for head fakes.
NAZ is back well under the Bounce after the 2-16-21 drop. We may go lower and test prior bottom. A failed hold could be help the Test 2 to play out. A few more days like today, will get the NAZ near Test 1 bottom. Selling the index started on mid Friday and continued today. Should the overnight price action become negative, the OPEN sessions may accelerate. Test 1...
NAZ has come off "Air Bubble" high and 10YN has also declined. The RED TL is pointing up and the Range of Play is highlighted with Yellow arrows. Failure to break above AB high will likely force lower level hold test. This can also play out in reverse order. I will provide input as it unfolds.
Since March 8th through April 30th my ideas have produced 3,592 points of trading the NQ100 Futures Contract. This is compared to the index points of 1500. Trading from major support & resistance levels in the opposite direction, trending trades to and then against the trend. Counter Trend trades away from such levels are high probability scalps. Failed counter...
NAZ had a slow and steady (no sign of selling, at all) 120 point run into the close, finally. The overnight will most likely prop it some more and then drop just before Jobs Number. The Range of Play is highlighted. Today was the the 2nd bottom of the DB start on May 4th. Stay with Long bias, most likely play following 7 or so days of selling. VIX down today &...
Todays call and TL bounce was on track, until the NAZ sold off and never came back. I like the Higher Highs and Higher Lows of today. Going with Long and would expect the NAZ to test bottom (at TL X, now) before any move higher. Level 13443 has good support, a break would seek May 4 low, 13881. We are due a mid or late day climb with momentum (like yesterday)....