White arrow is stall/drop zone and yellow is strong short. The O/N continues to reset any drops that happen in most Reg Sessions. It appears to me that a weak/fake Euphoric Stage is being played out. The idea of chasing the NAZ (after the O/N redirect) is the game, no chase and the game will end. The O/N has been redirecting for about 2 years (can continue). Again, the recent 25% drop was erased with a Tweet & news release (10 min 2,000 point) move and a few O/N's. Just feels like a fake chase play since the pop of the bottom.
Note
Yesterday we saw the dip into the Danger Zone and the EOD and O/N players just propped back up right on schedule. Efficient, reliable and predictable. Watch the Tweets should the NAZ retest the DZ. NAZ will struggle to get lower, notice how the price got above KL 881 after the reg session. Was rotating during the Reg Session and they pushed it above after the Close. Note
DZ retest, again.Note
You can see why the O/N lifts it above to keep it alive and away from the DROP.Note
This will break down and the NAZ will tumble.Note
Needs to break under lower TLNote
950 is next level to watchNote
950 rejection drop or lift in the Dead Zone then sideways to the Close and Up in O/N. Back under KL 881 is the short trade today.Note
950 and down, now needs to stay under 881. Isn't this fun.Note
NAZ will needs Tricks, Tweets & Magic to fight this one off. It may very well happen. Note
Chase Me, back later. In the garbage Dead Zone now. Note
The past few weeks have had intraday volume levels that are below typical volume. This may explain the Push/Pull and whippy PA. 400-500k daily on CME is not that high. Note
Still sitting on KL 881, Danger Zone.Note
See if it Break TL in O/N?Note
7/9 Update, 75 points lower on SP for drop test. Just remember that all Indexes move together with the NAZ controlling the most movement in the Large Caps. So if one is stabilized, rigged or propped then all or the same. Drop test on the way prior to any major lift higher.Note
Another O/N move up and away from Danger Zone. You can see three arrows and adjustments to get or keep it above the DZ.Note
Perfect Danger Zone defended move with the O/N team, let's see if it holds.Note
Target and drop test zone.Note
Current move isa bounce off lower channel.Note
BingoNote
Bango or to The Moon.Note
Vertical and Bango some lower (in normal PA).Note
Bango drop, wait the sideways to Close and O/N lift will take care of that. Nearly all Reg Sessions can not hold any lift out of the O/N, this is what to watch and anticipate the drop trough the DZ when it actually happens. Note
Looking for the major drop below the DZ and to the Air Pocket bottom. The Tricks just are not working as we see selling at any life (real or fake).Note
IDS Sell SignalNote
23,000 is resistance and look for rejection a few times prior to next move. I am sure the midday low volume Riggers will try hard to get above. Note
Anyway, should the NAZ get inside that yellow zone below it should be a quick drop. This is why you keep seeing the No/Low Volume O/N rig lifting it above. Note
Back later, Under yellow arrow and through purple box is the trade for the sellers. Above both, for Longs. Long especially near the O/N (or in the O/N, the O/N long move may not be as effective here). Still Shorting Scalping the lifts as the NAZ lifts on fumes. Note
Divergence AP set up, will fill in or drop here at 23,000Note
Will be short from and the next 100 points higher.Note
Madness will end at Double Top BLOCK.Note
1st drop test is 22,930 for next move. Note
Note
7/10 Update, So the O/N pop play did not work so far and we usually see selling at Open Drive. Unless the 1 Hour Pre Open Gov't issue news does not jack it up, we should see selling to start. Next item is the Friday-Monday 99% Long Play. The past few years the NAZ will run up big (90-95% of time) between Friday open and Monday Close. Today, 23,100 is still level to stay short under, just doubt that the NAZ will lift unless we get some excuse prior to open. Note
7am CT, 3 arrows are the O/N lift plays, this one will need to get above KL 23,095 and stay above.Note
No big reaction with Jobs #, look for bad news is good news spin or bad news is bad news or good news is bad news or good news is good news. OK, spin spin spin. The NAZ stalls and lower we go. Fed cutting rates is all they talk about and not Pure Equity strength (regardless of the Fed). Then you have the Tariff noise, point is the NAZ seems to only go UP in the off sessions and not the Reg Session. Just seems a bit strange (if Pure Strength is the mover and not the games). Note
Rejection at 095, watch the Tweets now.Note
My panel looks Red except for Tesla.Note
930 next testNote
Mid range here in Box is shake out to up and under ML O/R is Short.Note
Note
ML O/RNote
Key level for next move.Note
Stall Shorts continue to be quick and Snail lifts continue to slow lift back to drop level. One of these will break out. NAZ is not going higher at all in Reg Session and better gage.Note
NAZ drop, this will follow.Note
Back by EOD, Danger Zone is being tested.
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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.