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
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
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
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
Madness will end at Double Top BLOCK.Note
1st drop test is 22,930 for next move. 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
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
My panel looks Red except for Tesla.Note
Mid range here in Box is shake out to up and under ML O/R is Short.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.Disclaimer
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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.