NAZ is at upper target and Turn Zone from May 12th post. Failure here should see a 5% drop test. The idea is that buyers will need some sellers in order to get higher. The sellers will help to test the level strength. Month end into a Friday-Monday Long play and a break in this long standing pattern may create the opposite. Current danger zone is the 23,486 KL. Look Long above and short below. Scalping Shorts should turn to holding shorts and scalping Longs. Expect timely Tweets and same old Tricks near or under the DZ. O/N is still The BOSS until both the O/N and Reg Session sell (on same day).
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Long side, 23,900 is max upper target should the current rally continue and next target should we get the drop test to hold to pop back up. Current range is 22,450 to 23,900 with KL 23,486 and 23,300 being mid level of range 1st potential U Turn under KL 23,486.Note
522-440 is range, look for sideways, head fakes then break out of range. I do not trade make new calls on Fed Day. Good Luck.Note
Trying to hold it above the Danger Zone of Drop.Note
1st rejection at 550, watch this level.Note
540 Short, will take the Bonus Fed Day Trade (not typical). Looking for 440 hit Scalp or hold with fall through PA. Stop is 200 points above and will use some points from yesterday to play this one. Note
2024 to YTD Chart of NDX, up another 40% or pull back 1st?Note
Under DZ and 440Note
Started yesterday, Lower highs and lower lows. Yesterday was a near ODR. Sell orders OMG. BTD/FOMO with the Trick Tweeter is on pause.Note
Not so fast, down in Reg Session and up in O/N, pattern continues. BTD/FOMO is The BOSS. Note
Continue to Scalp Shorts and watch the Channel. Note
Looks like the buyers only need a tiny dip to pull in sellers, was expecting a much deeper drop. Just can't get past the O/N lift Team. Note
7/31 Update, The same pattern is continuing with most Long (vertical) move in the off session. These usually lead to the result of a slight pump/dump into the reg session and open drive, then sideways (with slight lift) to the close. NAZ did hit TL and circle is MAX lift or turn zone. Sticking with Short Scalping, now more than ever as we see the apparent long trap really playing out. Black swan could be the firing of Powell and Tariff deals breaking down, you never know but can imagine. Note
Top of yellow arrow on this one.Note
Yesterday to current here, all Overnight with the lift. Let us see what the Reg Session can do today.Note
5 year on the NDX with Covid drop to the right. The current 40% pop (with 2 -3 major trick moves) is back at TL. 50% or so of the 40% came with 2 moves that are air pockets. The M may form to the right side and a hold on drop will become the W. Current 40% move is major and sticks out like a " Turd in a Punchbowl" (Porky's fan's). Note
Steps back lower when the drop shows up. You can see that the Pop out of the Top Box and Danger Zone level 23,486 was placed in the O/N (2 times). This level is key on any drop retest. They gapped it on a weekend and popped it after a Fed Day. Back under this one should get the lower move going. Note
Staying inside the Arrow, O/N Capitulation?Note
Note
800-486 is range here.Note
Just another O/N Pump/Dump into the Open Drive.Note
Normally the Long Trade would happen about here, lets see if that changes to day and retests the KL 486.Note
Here the NAZ will take out the Failed Auction to 486 and may pop on a hold.Note
486-650 is range to watch, under 650 is strong short to drop test 486 for the big move.Note
Hit KL and will have to see what happens after the sideways move to the Close and O/N.Note
NAZ got to 620 and playing out as it should. Will need to see what games come about near KL 486.Note
NAZ under the DZ and out of the channel.Note
Up in Days and Down in hours/minutes. BTD/FOMO Boss may of just got FIRED. We shall see what the O/N and F-M Long play does. Note
1st target hit and needs to get others below.Note
Today is an Outside Day Reversal only if the NAZ closes below yesterday low of 23,360. 2nd major Direction change at the Top?Trade closed manually
Going into the Close and O/N, if Meta and MSFT were not up so much the index would be well below this level. The Range today is 500 points and this is significant. I highly doubt that the NAZ will recover or break above today high. Tweets, Tricks and Games will need to show up near the Close or O/N. Turd Alert and Long Trap is most likely playing out here. Note
Today's volume may be the highest in past 30 trading days. Other signals with a direction change: 30 points away from ODR now (after 500 point drop), heavy selling volume and TL hit and rejection. Should the O/N redirect this and take it back up, that would be nearly illegal and may get some Pro's ready to punish it. We may see a new BOSS.Note
Correction: 485 is yesterday close and can be ODR based on the NAZ closing below that. I use prior day low which is better gage. So, technically we are under 485 and in an ODR. 485 is also the DANGER ZONE.Note
We had lower Reg Session, need to see a lower O/N now.
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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.