Many calls did play out last week and looking for some targets to get tested this week. On 7/29 called the Yellow arrow (last week's called range), the white is this week's. NDX has some gaps to retest, YTD chart below and yellow arrows are the targets.

The 30M and 4HR charts are adjusted to match the NDX gaps.

Anyway, the Overnight will be used to redirect the NAZ back up after most drops, this is normal and just beware of the O/N Pump/Dump once the Reg Session starts. Washington Street will spin, Fire, Tweet and do whatever works to get NAZ back above the DZ 23,486. Just watch the Queen spiral out of control should it not. The two day drop erased 23 trading days and those buyers are now loosing money. Should it not come back, the buyers that did not sell (trapped) will sell and send this even lower. Games/tricks can not fix that.
The 30M and 4HR charts are adjusted to match the NDX gaps.
Anyway, the Overnight will be used to redirect the NAZ back up after most drops, this is normal and just beware of the O/N Pump/Dump once the Reg Session starts. Washington Street will spin, Fire, Tweet and do whatever works to get NAZ back above the DZ 23,486. Just watch the Queen spiral out of control should it not. The two day drop erased 23 trading days and those buyers are now loosing money. Should it not come back, the buyers that did not sell (trapped) will sell and send this even lower. Games/tricks can not fix that.
Nota
Let it lift and just know that the prior 2 days had the highest volume (selling days) of prior 30 and today is one of the lowest. Typical of a Long Trap set up #2.Nota
One Way Price Action continues, 1 way on Friday and 1 way on Monday. The O/N tonight will most likely try and lift the index (normal), next key signal is with what the Reg Sessions does tomorrow near Danger Zone or under the DZ. Nota
8/5 Update, The fact that the O/N did not lift the NAZ to or above KL 23,486 may be a game over, the Reg Session will have to lift above the Major Resistance Zone on a Tuesday (not typical). Normally we see MRZ's get taken out in off session periods or Holiday's and such. NDX Chart below does show Gap 1 id filled and looking for back above DZ or Gap 2 will get a hit.Nota
CME Group site will show the 30 day recent NQ volume. We just saw the 23 day low volume lift get erased in 2 days. Any lift back up on low volume may be a head fake so careful with the chase here. Nota
IDS view, 23,486 is KL to watch, sideways near, head fakes, any strong rejection use the KL's under as targets on the drop. Should NAZ get above the KL 486 in the reg session it will need to be during the Open Drive and not the Dead Zone. A sell off in the Open Drive is a signal that the NAZ may see more selling pressure should it try to lift again. Nota
On at 380 with 150 point stop, hardest thing here are the stop clean outs prior to drop and all should happen under 486.Nota
BTD/FOMO bait or to the Moon today. Flip a coin. Nota
Tricky day and key to next big move.Nota
Not much conviction in the Open Drive and usual lift in Dead Zone, going with drop off set until next Open Drive. O/N may lift, just reload if stop out.Nota
Heavy activity with the Tweets, all working into the hands of the previous sellers that will return. Nota
Stop offNota
Loaded on the Short side and feeling the prop here today. Just waiting on some sell orders. Nota
Will let this one run and I have to leave for the day. Looking for a drop test to drop out and a break of usual tricks and PA.Nota
I have been doing this for a while and many longtime follower's do know that when I call a Strong Short, I am usually 1 day or so early. And during that period we usually see a major lift in the opposite direction 1st. Just keep that in mind as we are still traveling in the old Range prior to the previous drop. Nota
Washington is getting way to involved with this market, think it blows up at some point. Tweeting/Posting whipsawing things, just continue to watch the O/N PA vs the Reg Session until Tuesday. Big move in near with major curveball to lock in the Trapped Longs. I am flat and out and will not chase this. Nota
The past few days feel like a Pump/Dump on low volume and yet another Long Trap of the BTD/FOMO's. Prior run was up for 23 days and erased in 2. You can spin all you want but when the reg session starts to sell it is hard to redirect that. Nota
Back near the Close, Stop at Entry and letting it go. Nota
NDX Double Top and NQ had the O/N Pop Off. NAZ needs to stay under the DZ.Nota
8/8 Update, The same typical pattern with O/N lifting it back above the Danger Zone. One note to keep in mind today, I have posted this fact in the past many times. The NAZ will retrace 85% of most major moves. This just happened again from 22,800 low. The chart below will show this. Today watch the same Tricks/Tweets at key trading periods, should the NAZ stay under yesterdays high level (and get back under the DZ) we may see a decent sell off. Looking for break down of the Friday - Monday Long Play, if not then look at 24,000 to be target by Tuesday Morning Open. Nota
Washington Hedge Fund Services is active with the Tweets and looking to keep the NAZ away form the DZ 486. I will be back near the Open Drive. No big drop today we may see slow sideways to O/N for Sunday to Monday easy lift in the off session. BTD/FOMO above the Danger Zone (after drop test).Dagangan ditutup secara manual
Busy week and will let this play out, have to leave early. The whipsaw week is signaling a decent move to follow and leaning toward lower. Good Luck. Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.