The challenge is the O/N prop confusion. Today was an outside day reversal and we are near the bottom. NAZ was boxed out of the Box and the O/N fake rally was sold off and could not get back up. Going with O/N prop, Open sell off and YTD low bounce. Will update as we go.
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Good to see, no prop and straight to drop. This is normal and needs to just happen.
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Working our way to the YTD low and the O/N drop is one of the largest YTD. Chart below will provide some KL's below. Expect another try at 11262, you will notice how it tested from under and was rejected.
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Break out of the Funnel is a trade, otherwise the NAZ needs to bounce off target.
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NAZ just bounce at 5am CT hour change, went out of funnel, back in after testing 11262 area. Look at 11140 to 11240 as Mop Zone. NAZ may bounce araound in there this morning.
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NAZ out of Funnel, stalling at yesterday low. Not sure if that is it?
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O/N PA is not reliable and I would just expect the real bottom test to come in the Open Session. Ride this if you are on but you may want to take profit near Open and expect a 2nd retest. This could be a deeper Short set up.
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IDS 27/50 Key Levels, watch it bounce around under 11309 for now.
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11170 may see bounce
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11190 is Pivot and TL, may be spot for bounce.
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NAZ is retesting 11200, may be a long set up should this hold. Back to 32, 54 and 309.
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Hit 11240 and back to Pivot 11090 MOP or looking to Pop some. The level support near 11200 should hold and provide bounce, that failed bounce is next short. 262 is target now.
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Feels like Long Shake out, thinking up then down. Back after Open.
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Careful here, notice wicks on 30M. May take profit from 11200 trade.
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KL 11343 seems to be a problem.
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Brutal PA, every move gets countered.
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Retesting O/N lows is normal, NAZ may do that then POP.
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Double bottom at 11271
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11471 may be trouble. Small Pull back.
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May retest 11385
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Rejected at Box Bottom.
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Upper target hit.
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Today does not look like NAZ rally, back in Range.
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Under high, we have a short developing.
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Yesterday was outside day reversal, This could be a strong short.
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Signal
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Sideways Mop to Lower move.
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Short retest or break through at 114450
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2nd attempt at 11471
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Through. needs to pop and retest.
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Shorting the NAZ at 11480 with 30 point stop. Move from 409 looks fake.
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11425 is target.
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Stop at 11490
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Stopped -10, This looks weak. May work, hard to beat 1 way NAZ.
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11512 is Top of Channel.
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Still looking for a drop, NAZ is vertical and stalling. If you have points you may look short on high ticks with close stop. This is where I get Crazy. Grinders are Tough. Intraday PA has changed, this may run for a few days should NAZ break Channel. 11471 is target on any short.
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Break 11471 and lower we go.
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Crazy like a Fox. Run Forrest Run. They extend it a bit above KL and snap it.
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11471 head fake Snap, watch the ticks. Trust nothing. Lower your stop.
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Fake bottom is 11409. We will see it again. Riggers have the majority tricked. Hard to fight the majority. Slow fight.
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No lift and we have a Long trap. Stepping away.
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No drop yet, I just can't see the weak lift today being the Bottom Bounce of the Bear. Not what is normal, need a force higher and that is not this. Careful on Long side. Short at 11510 and scalping with 30 point stop.
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11510 Strong Short on High Ticks, Stop at 11520. Scalp for 50-75 points. High Ticks are barley 500-600 now, not good. When price lift does not match the Ticks, signal signal signal. NAZ will need to drop some prior to next decent lift.
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Adding 4 to short 11510
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Just high ticks with no lift in price, not normal at all. Divergence on IDS 50.
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Closing 4 for Plus 15 or 60 points
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Closed last at 11490 Plus 20
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GRINDER, this is weak stuff.
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High Probability Trades with multiple contracts is the only thing you can do with this type of WEAK PA. Why is the NAZ so Slow? Today was a 1 trade day since Open, That is also not normal. Expect some moves by close.
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Slow Roller Short developing at 11500, also not normal on on Bull Day. This is not real or does not match the VIX or anything, boring and I am disappointed. Away until close.
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Like watching paint dry. Hopefully you got the slow roller.
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Divergence on IDS 50, this may be early but usually plays out with a drop in price.
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Also surprised that DZ did not lift the NAZ. Still no Limit Down O/N during the Bear. Push Pull is gone and VIX has had zero effect, these are odd facts. Flat here into close. We are basically at yesterday high.
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Short at 11557 and adding at 11590
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Stop at 11630, using profit on stop.
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Now outside day reversal to yesterday, free to drop or climb. A drop would be more in line with next move or capitulation story for bottom confirmation.
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All machines or Algo's, hard to turn. But when they do, they fly. Execution is all you can do. Edge Trade.
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NAZ no pass high is Double Top. Closing 90 Short Stop at 11600
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Stop off and holding short into O/N, NAZ should drop at 90.
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Before final 15 minutes
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Ouch, please stop. Who is buying this, not Smart Money. Must be the Riggers.
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Adding 3 at 11595
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Closing 3 at 85, plus 30
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The Close, the after. Under yesterday high, will hold 1 short with 30 point stop or 87
Dagangan ditutup secara manual
Muted day for a bottom, not sure we are at THE bottom.
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IDS 27 taking it to 11510
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Closing Short from 57 at 45, plus 12. Expect O/N Prop and will reload.
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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.