Big Action Today and Bigger Reaction to follow. NAZ will need to pass 13600 and climb towards 13700. Buy dips over next day or so.
The NAZ did pull the Head Fake (5/3 Call). The TL cross (X's) at 13866 was the center pivot and tomorrows upper target. The lower target at 13692 is lower X & Box Bottom. The yellow arrow is the Range. We may need to see continued drop to lower target, then potential bounce to upper target. The level does have good support and I would anticipate a significant...
NAZ is back under Test 1 Top, back bottom of Test 1? Test 2 is unlikely, I would expect a bounce prior to Test 2 run.
NAZ has been in a Box since 4/9. The 300 point range is highlighted, 13600 is a likely short target should we break below box. The box shows 4 attempts at upper and 3 at lower, Monday we may see move lower & bounce to upper or lower break to new low. The idea of a lower move and half bounce (head fake) reversal to lower and new lows would be in line with recent...
Range is easy, direction more difficult. Yellow is Range and White is potential movement. 10YN did post double bottom on on 4HR yesterday, this may help with stabilizing/lowering yields. Final day on month, could get interesting. FYI, Monday is new month and usually inflows from Q Plans and such provide Long bias lift.
NAZ has tested the lower level serval times over the past few days, next move higher. See prior day Ideas for additional S/R levels. Tomorrows Open may be a slight test, if needed. 10YN is also bouncing off a recent decline. Predicting strong momentum up for next day or so.
The NAZ could not get passed yesterdays resistance of 13960 & 80. Level 13911 is good Buy area for Long to upper Target. NAZ should blow through the upper resistance this go around.
Bottom level should hold and be spot for long back to top. Look at 13980 and 13960 as Buy/Long targets.
NQ looking to repair knee jerk from Cap Gains news. Yesterday was a chain reaction from algo's and such.
Following the support level mentioned in yesterday call, Long at 13722. Support level should hold al day.
Follow up from original 4-15-21 "Air Bubble" call. The NQ 13829 is the target of bottom range. Today we did get with in 30 points from the target. The NAZ is now under the 13950 which has been the lower range that has been holding until today. Fade under 19375 with Short target of 13829. Buy dip at 13829 after NAZ stabilizes. Should NAZ break 13960, confirm that...
As a follow up to the 4-15 call, the NAZ is trading in the Range 14060 - 13050. The 10YN Short Squeeze appears to be over and we may see some lower price action. Any break above or below the NAZ Range should have follow through to targets.
The "Air Bubble" from 4-13-21 will most likely pop today or tomorrow. The 4-13 Overnight lift and 4-15 Overnight lift is mostly Index Futures price action. The Open Session decline on 4-14-21 was erased by the use of Overnight activity. Should the Open session activity not maintain price levels, the current price levels will not hold and pop the air bubble. Look...
NAZ appears to be in a long liquidation day, careful with buying the dip. Russell is taking new money and most likely coming from Tech. Update on Russell bounce from yesterday.
NAZ, DJIA and SP500 are at all time highs, may need to test lower levels in order to go higher. Russell may be the key, needs to get going. NQ may retest 13550. Russell appears to be targeting 2180. Again with NAZ, much action in overnight and not much follow through in Open, only in final 30 minutes of past 4 days. Watch for weak close and expected negative...
The following may be helpful with spotting, entering & exiting trends. Range bar 35, dual screen. Red is Short and White is Long. Short on red bar below Thick Red Line and Long on white bar above Thick White Line. Short and Long trends will clearly be displayed with consistent same color bars. I find that Range Bars clean out noise and provide clarity of price...
Should the NQ not break above 13800, Short Target at 13640 and 13600. We will know in next hour. Look for Pull Back to 13725 for failed Short to next Long and Target 13800.