Going with the recent pop as: Short Cover rally or Drop Offset. We may see a decent head fake long set up as some may start to exit (up here). Give it the week with the Friday-Monday Long move to change to Short Rip lower.
Note
O/N with Rig lift to 300-400 zone, looking for the Pump/Dump tp play out in the Reg Session.Note
KL 22,220 is retest and Long Above an Short below.Note
22,300 is a Hook Short or pop to 400 retest. Note
Going nowhere.Note
Staying with the Short for now. Dead Zone will have to wake up.Note
Indicators are upside down, Air Pocket day. Drop will usually follow.Note
Going Short near 22,400, looking for rejection back in the lower range. 300-400 is expected Turn Zone.Note
AP needs to collapse, if not this may lift higher.Note
AP fill and O/N up next.Note
NAZ U Turned near YTD Open, should head back there by EOW.Note
6/25 Update, look Short today. Divergence break day.Note
We have retested 12/17/24 high, look for rejection and drop during the Reg Session. If you are Short now look to place stop at 22,500 or 22,550. If stopped, look to jump back on after sideways move. Note
drop test in O/RNote
Nearly a 1,000 point move in past day or so, looking like a TOP. Mid Level of range is likely.Note
50 points away on SPNote
Drop test at 540 Note
IDS27 shows to lead lower, need some force hereNote
Stop at 550, let it run some as it retests lower. May take 10 point hit and reload. Looking to hold shorts today.Note
O/N and yesterday has created the chase game, looking for reverse side of this and should be quick.Note
520 and under is the keyNote
22,400 next stop should NAZ stay under 520Note
Watch 480 for next move.Note
500 of 1,000 point move was O/N, look for that to be retested. Back later will hold short as the snail moves nowhere.Note
Up in O/N and lower in Reg Session with zero strength has been the pattern for a few years and the new normal. That is NOT Normal, drop on the way folks. Note
2 KL short under calls and we need to stay under, NAZ may retest should sideways prop holding continue or make it to the O/N Magic Long Only world.Note
Got 409 and NOT under 400, back up as the low (near KL 400) was the Scalp Exit. Simply and reverse to Long if you want.Note
Take away the O/N Prop moves over the past 2 or so years and the NAZ is at 15,000Note
22,400 is hit, we may have a runner or just more noise. Here come the BTD/FOMO's or not and we just drop like a rock? Anyway, you can see the easiness of the patterns that work and will break at some point, that will me the move to wait for.
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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.