YTD Open level is Blue line below. NAZ up 8% YTD and 40% from YTD low. We may see 8-10% range be the drop zone and retest the YTD Open Level. 22,800 -21,800 has been an extremely low volume 1,000 1 way ride up (not seeing any selling). We should see the sell side show up as NAZ should drop back in the 1,000 soft zone.
4HR YTD Chart below:
4HR YTD Chart below:
Note
22,600 is drop test zone today. Hold, long from and no is short below (this is unlikely going into a Holiday weekend).Note
22,600-22,880 is range today or next few days. 2 rejections at KL 881, may see another test.Note
825 and under should be a drop.Note
Old tricks are running out of juice. Dead Zone lift attempt next.Note
Lift attempt and under low should see heavy selling and if not Long back to 881.Note
1 more move and then sideways up or 1 way train lower.Note
Note
NAZ will struggle to get lower, but will slowly go lower.Note
Wait, picking up speed (that is just not expected, we see selling?) and may try KL 600.Note
Just notice how many 4 hours bars the 1 red bar erased. That is a bogus ratio (if you are Long). Long Trap on no to low volume up.Note
U Turn or Bust out lower time.Note
Note to new followers, it is best to take profit at a KL hit. You can always reload after hit. This is a perfect example of a Entry, Target , Exit call.Note
FNG1 is lower 2% and SP is down very little. So, if the current Fake Hold on the SP lets go, this will rip lower.Note
May see a Tweet should NAZ retest 600 or go below.Note
Notice that during the Dead Zone the NAZ will weasel up higher slowly. After that you may see a final hour pop into the O/N Long Only Safe Zone. This is how it is done and why you should take profit at KL hits.Note
Final hour pop or pop in O/N. No pop should go lower.Note
NAZ is looking like it may fall in O/N. This may happen after it lifts some to KL 881.Trade closed manually
They are holding up the SP and will see a drop in O/N most likely. More tricks to keep it all stabilized.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.