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.Note
6/26 Update. The NAZ does retest Short call level in O/N. Look for some dumping in the Reg Session. Same typical pattern.Note
Note
The O/N continues to be The BOSS.Note
Big Air Pocket signal, may come up or collapse. Notice how thin the Range/Ticks of previous 2 days. All buying and little selling. Note
May see an M on this chart. M for Magic price action.Note
Major divergence, interesting to see how this one plays out. Back after the bell.Note
580 is KL as Dump in O/R is on for now, no lift in Dead Zone and we may see a drop. If not up and away or sideways to O/N.Note
Note
BoringNote
Look for M follow throughNote
580, kind of flat here and not much force with upward move. That said, it takes nearly nothing to lift the NAZ in the DZ or we may see a quick deep Drop Test. Note
Taking Short at 22,600 with 75 point stop.Note
Divergence and AP below, should break or Magic Move higher. Will check back later. Note
This looks like a Long Trap, stop at 22,625 now. Need to let the sideways to O/N play get out of the way.Note
Back on at stop out of 625, stop at 675. Fumes, drop play, previous shorts were 1st and 2nd drop tests. The weak lift is signal of 3rd DT and break lower or sideways to the O/N. Should that happen, it is Long into F-M long Rig.Note
Note
Add heavy to Short with Wide stop or close stop at 650. If you can at 600-625. Major Air Pocket and just needs a nudge.Note
22,620 now is next move for the day. Will move up or down and that move should be it. Hopefully down, back later starting to chase/force this as it may not be ready. Let it go and walk away. Note
22,550 and under is the idea. Hit or near take profit or strong short should it go and stay under, until the Close or O/N long magic zone.Note
650 and under should drop, stop at 675 on this one.Note
Here we go drop or pop at 640Note
Still on, weak pop.Note
No stop and will add on the lift, aggressive and do not follow if you are unsure.Note
These breaks usually fly up and then drop to test. Need to be on or usually miss the drop.Note
Note
SP back to top, will need to get above and stay above or will fall back some (maybe half of the range). NAZ may follow or lead.Note
Tricky, the circles are the narrow days as compared to the wider normal day. The lift in past 3 days is really narrow or 1 sided. AP Set Up but can go on for some distance. The F-M long move is next or not should the volume balance out (usually does).Note
Range for current Short.Note
Maybe not tomorrow but watch the level below. Monday-Wednesday was all O/N lifting with Thursday up in Reg Session on really low volume. Drop test on the way at 1st Toe Stub. Note
6/27 Update, Looking for NAZ to stay inside the arrow range today and into Monday.Note
O/N AP's retest or weak support zones below. Note
CPI and U Mich today, may be C Ball? To redirect the Lift Rig.Note
Well, we will have to see the O/R and 9am CT U Mich reaction. Inflation release seems to do nothing. Or, something if the lift has stopped. No lift in O/N = no lift in Reg Session, usually. Note
So far inside range and slight O/N Dump into Open.Note
Looking for weak low volume air pocket to collapse in Reg Session.Note
Holding Short here. Under O/N high if you are looking to go.Note
Under O/N high is clean drop. Above may go sideways or higher as it is Friday.Note
Should drop now. Not really seeing much to upside for a Friday session.Note
Inside rangeTrade closed manually
Will let it ride Short and check back on Monday or later should it actually move. Too slow for me. Note
Snail day, come back Jack.Note
Needs to break inside arrow or back up or sideways to the safe zone Overnight Rig Team.Note
GamesNote
Let's go, give me a Tweet.Note
Watch this zone on SP over next few days.Note
22,500 is likely. Unless the Rig Team is on standby.Note
Lower channel is after 22,500 if no redirect. Note
Extremely low volume, this is all noise. The recent 1,000 (21,700 - 22,700) points are fake and will be retested.Note
Have a great weekend, leaving now. NAZ may struggle to get lower, but will go lower for a few days. 
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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.