Long

NQ Range (06-03-24)

Updated

Looking for the typical and predictable Friday-Monday Close rally play. Friday had the usual and typical late day redirect, only to start another low volume U Turn. They do it when most have gone for the day or we are near a Holiday. Now the O/N (low volume) lift is just creating the Long Chase. Need to see some big selling or this is just going back to 19,000. May 20 (yellow arrow) call did Play out, back in the range now. Solid arrows are previous calls and dash is current range.

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Typical O/N Pump/Dump. NAZ has Zero strength during the Regular Session. The Closing price today will set the direction for the next day or so.

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Near EOD and usual lift back to O/R. O/N will try and lift up for Tuesday Open.

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6/4 Same range for today. Look for break out of Yellow Dash Arrow for next move. Just Getting into weak Summer price action/volume. Just watch the Long side curveball as the past several years the "Sell in May" has been the "Lift in May". The Long Only product world has supported the Long side lift, especially on low volume months such as Summer.

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6/5, NAZ is Mid Yellow arrow, notice the 2 circles and these are Overnight moves only. Again, the NAZ gets pumped in off reg session O/N. This is a set up up for the Reg Session Dump or Drop Offset. The O/N prop game has been active for a few years and may break down should the Mag 7 become the Mag 5 or 6. Today look for a retest of Top/Bottom arrow tip, NAZ is Mid Arrow Range now.

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Look at, near or under 18889 today. Rejection with lift attempt is drop retest short, passing 18889 and retest/hold from above is Long.

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Air Pocket DROP or Lift if no drop at 850

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889 hit

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IDS indicator retest for next Leg Higher. Out for the balance and Good Luck.

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Upper Top Arrow is Hit, look Short on any stall out after O/N tries to Rig Up prior to O/R Tomorrow.

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6/6 update, Solid arrow are old calls and Dash is current. KL's to watch, 19050, 19400 and 19818. Under 19400 will be short should NAZ get and stay under 19050 after trying for 19400. Just watch for moves to happen in the O/N, late morning to final 10m of day, or any Friday to Monday Long Bias combo days. Again, looks like "Lift in May'' is in play. This has been the play for now 7 years or more.

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NAZ struggling, a drop under low may drop an additional 100 points. Staying above will go higher, this may go on all day, any hold above low will most likely move up near EOD or in O/N. This would set up the Friday- Monday Long Lift.

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NAZ was flat as a pancake today. Get ready for a drop lower should the O/N not prop it up by the Open. Stalling NAZ is a Falling NAZ. Do Not Short unless it stays under the KL 19050.

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6/10, Not much to say lately with the Price Action or trading opportunities. The movement has been narrow, slow, etc. Any major stall out will drop test to the next lowest KL. Day 4 of narrow range, drop would try 100-150 points lower.

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NAZ has bounced from 37% drop over 2022/23 and is only up 14% above late 2021 early 2022 high. The 2.5 year average is less that 7% a year. The bounce up from a 37% drop is the good PA, not sure we get much higher from here without a drop back in the range of the run up. M forming and NAZ may drop back to 17,000.

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6/11 Update, seems like the media is building up CPI tomorrow or PPI on Thursday. The NAZ will need some O/N lift should the Reg Session continue to be half dead. No O/N lift, Strong Short is the call. 18,500 is 1st lower retest.

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6/12 Update, The KL 19,050 held after the 1st hour yesterday and the Dead Zone low volume move floated up as usual. IDS27 view, look for KL 19,400 - 19,050 range and break down or break out. Easy lift may be drop offset with any inflation surprises.

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KL 19,400 Hit and watch the fall back near Open Range.

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Good Luck today, Arrow is next break out target. Long above KL 19,400 and look for drop under (needs to stay under).

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Failed Auctions all the way down to 19,280. This will most likely be retested in next day or so.

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Indicators are upside down, again. This is usually a pre drop warning. Volume has been low past few days/week. O/N will lift and tomorrow Inflation release??

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Drink the Cool aide? The old channel is rejecting the low volume Long Lift. Need to see some counter PA, eventually.

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O/N Update and the NAZ is at the White arrow and Mid Channel. As usual the off session, Fed Day, Holiday's and any low volume period will see only upward PA. BTD/FOMO Forever continues.

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6/17 update, the NAZ will lift until after the Holiday 6/19. Low volume one way move.

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BTD/FOMO until after the Juneteenth.

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Buy in May and go Away, 20,225 is Short under. Needs to stay under.

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NAZ is under 20,225 and will 19,800 if the air gets released. Not likely with Holiday tomorrow, wait until Thursday or Friday. Go Fed, BTD/FOMO Forever.

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6/20 update, O/N lift stall out is a short set up. 320-360 is zone to watch. NAZ did pop above 225.

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O/N pump/dump is likely near the Open. Watch the O/N levels, H/M/L and Open Range, 1st 30M. Looking for Drop prior to Friday and then failure of Friday - Monday usual rally. The O/N has been used consistently to elevate the NAZ. Fumes are behind this lift.

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290 retest and break will retest 225. Just understand that a flat top sideways range is usually the exiting of the Pro's who sell to the buyer's as they start their exit. No drop and they may buy back in, this will be the direction changes and whipsaw. Stay out until a break out.

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Looking to Gap Fill at 19,600 prior to upper channel break out or rejection and then drop. Good luck today and key is PA at Open. 1 way snail has to show some 2 way, eventually. Now to next Holiday should see a drop test.

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Pump/Dump and lower targets hit

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1st Hour is typical Dump and O/N Pump, now Dead Zone will try and lift it back up. Under 225 is Key here

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Fumes, Pump/Dump

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6/21 Update, Mentioned Monday that Thursday would be the drop test for the typical bounce into the Friday to Monday Long move. Should that not play out then we may see another drop.

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NAZ on the edge, have a good weekend. BTD/FOMO Forever.

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6/24 Update, On the edge and no O/N lift. Monday's usually only go UP. No lift and strong Short. Not Likely.

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Under 818 is Strong Short and Hold id Long

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Got to 860 and bounced, for now.

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818 hit and bounce

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outside of channel will drop and range to play

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UNder 818, LOwer we go in O/N for a change with some FORCE. Maybe??

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NAZ with Flat Friday and Drop Monday, just unheard of. Late day had the Flip Shake Out. May see some movement to KL below 19400. Summer Fun, BTD/FOMO's

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6/25 Update, O/N with lift so look Long and NAZ may try to get back in the Channel.
Now back above 818 and will move 200 point up or down based on the PA at Open. Dead Zone will try the up direction, just look long BTD/FOMO's will show up.

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Back to channel and 200 up.

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Go Fed, BTD/FOMO

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6/26 Update, NAZ gets some help from Dead Zone yesterday and O/N today prior to Reg Session O/R. Look for NAZ to get rejected near Mid Box (there now) or stay inside the entire box. Next big move will come once the NAZ leaves this Box. Play upper half Long and Lower Short. Mid is NTZ (No Trade Zone), play trades near edges in opposite direction.

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White arrows are Dead Zone and O/N long trades, typical and predictable. Go Fed.

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Mid Box - 818 and 740 are levels to watch. 818-740 break out lower will try 19,400. Only look Long above ML (Mid Box) or Long to ML from 818-740.

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Air Pocket Drop, need to see negative Ticks.

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Just watch the Ticks here

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ML stopping and NAZ is playing in lower half of Box.

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6/27 Update, NAZ still in lower half of Box. Just feels like it may travel back up should it pass ML (20,028). Same exact plan as yesterday.

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NAZ at ML and may drop by EOD.

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Garbage, NTZ.

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6/28 Update, NAZ now staying above ML for the typical Friday -Monday Long play. Next week is Holiday so get ready for the low volume Pump. Shorting under ML is ok but NAZ has to stay under ML.

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TLX at 20,325 and could be target for hit and reverse.

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IDS View, NAZ keeps bouncing off white MA and dropping under blue MA. Look for drop under white MA during the Reg Session.

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20,160 - 20,000 is range to watch today.

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Got near TLX and dropped. In range to lower unless Friday lift in Dead Zone kicks in.

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IDS and under the Blue MA

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19,818 -750 is highly retest prior to next lift should Friday- Monday lift not happen. Holiday next week will lean toward lift so be careful shorting and think Long when in snail sideways move.

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Still in Range at lower, 20,000

Trade closed manually

Closing post and will publish new for July.

MAZing

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