The O/N slight lift back to Mid Level of range. The big Tweet regarding Japan, did show up after the close. Now we need to see how the Open Drive & Reg Session move today, may be snail lift higher 1st. The next bullish move would be F-M Long play. The selling just does not have much force or is part of the head fake prior to a decent drop test. Still Scalp Shorts to KL's and wait on some conviction selling to eventually show up.
Note
4 HR Chart looking like H/S, again. Typical Open Drive drop and will need to see some follow through on the downside or this is going back up.Note
Above Diablo is Long and under is Strong Short (but has to really stay under and not touch/bounce)Note
Tweet time or Drop to 23,000 under Diablo and KL 095.Note
Another Reg Session Open Drive drop and waiting on EU Close or potential Tweet reaction. Big drop will follow should the NAZ not lift. Note
SP struggling to get higher, watch the stall out.Note
Price Action is so slow I post 3 day forecasts and I use to post daily. Just an FYI with PA. Any selling will create a quick drop. Note
With Meme Stocks coming back vs the Pro's, Washington Street Tweet noise, I might say that we are getting in the euphoric zone with some weak forces. Just a note and something to consider. Back later as the Dead Zone lift redirects the O/R sell off (typical). The 10 minute 12.5% pop a few months ago is the lower air pocket that will/may be the retest zone. Note
Notice the games, they are trying to see if the BTD/FOMO's are chasing this. This will keep happening until the stall out. Other issue is the sideways to the Close (and then O/N). Sideways will guarantee a Knee Jerk lift in O/N. All of this will drop under KL's above.Note
Magic continues as the NAZ is Flat in the Dead Zone. 140-45 seems to be new level to watch. Note
350 is turn zone back to 290 retestNote
Testing 290 retest hit.Note
Here you can flip a coin an pick one of these. Funny thing is, the 2nd move will be bigger if you miss the 1st (opposite direction).Note
You know the drill. This is the range of the day and the off session (overnight) will most likely try to lift 1st or until the Open tomorrow. We are looking for a break in pattern and a drop.Note
O/N 1st move is up but not quite to upper target. The O/N Riggers will work on that and the Reg Session will most likely sell it in the morning.Note
Could play Double Top short under 425 or wait until O/N Rig lift is over.Note
7/24 Update, 424 and drop for 75 points. NAZ is basically still in the Upper Turn Zone and will have to break out. The U Turns near the Danger Zone was the 1st priority to keep the NAZ up and away. At some point, assets may shift from MAG 7 and move to Small Caps or other plays. I am looking for that to happen in next month or so. Euphoria is in the air and is final stage of the Bull. The thing is that Joe Retail & Media are euphoric based on Rigged Price Action with Off Session noise. Short Scalping is still preferred here.Note
Yellow arrow is Off Session lift, prior PA was sideways. Looking for the Open Drive to show its hand today (and may be up 1st). After, the 2nd lower arrow play is the idea.Note
Play should rejection above hold.Note
Update on NDX chart that goes back to 2020. Notice the NAZ is trying for orange TL and is under or on wrong side. The thought is that the NAZ will get rejected near/under. Note
2nd move under 425 to KLNote
Short under 400Note
Loading up Short under or near 400. 100 point and walk away. Go or stop out. Playing with previous points from prior Short.Note
400 appears to have some resistance and the NAZ appears to somewhat only strong in the Off Sessions periods, lets just go with that and walk away on this one.Note
MAG 7 may be the MAG 6, this may be a signal or start to managers shifting to other places should the index start to drop. Bad for NAZ, the just sideways Reg Session and up in Off Session price action has been working and the next signal is with the F-M long move on deck. I would think that a Danger Zone retest is next (23,095). Needs to get under 23,000, when is the question. Rarely in Dead Zone and then you have Overnight? These trading periods rarely drop. Only play is a curveball that reshuffles things. Note
Just noticed the Gap on NDX at 22,600. Rejection at TL above may send it there and would explain the zero selling during the run up (drop offset).Note
20,600 typoNote
Typical Magic lift in Dead Zone. Why I was saying "When", the drop has 1 shot each day and that appears to be at the "OPEN DRIVE" only.Note
Staying with the Short play and the stop above. Scalp the drops and reload. Now have 200 points to play with, stop at 23,600. Note
NAZ stuck at Yesterday O/N high and will one of the following (usually up in O/N 1st as we close the day).Note
Breakout or bust, staying Short.Note
NAZ appears to not like 400-425 levels. O/N will have to break up with next F-M Long play or lower we go.Note
7/25 Update, Nothing doing in O/N and Open Should sell off, 1 hour prior to Open the Pump may appear 1st. Note
Pop or drop, Air Pocket below. May see head fake pop/pump to drop, back after the Open Range.Note
Range to watch as you Scalp Shorts.Note
So today will be the Friday - Monday Long Play or start some drop testing should it stay inside the range or under Range High. Trade closed manually
Question yesterday was "When" would the drop take place. It has to come in a drop permitted period. We did get the O/N slight drop and then that continued in the Open Drive. Now we get the Dead Zone Friday Lift which will go sideways to the close and then O/N to Monday play. Same patterns continue, now looking at a Tuesday drop (just like last week and every week prior for past 2 years). When it come it will cover many points quickly. Scalp Shorts in only way if you are looking short.Note
Next upper target should the break out go up and stay, doubt this but it is F-M Play (zero selling).Note
Keep an eye on KL 486 and under is a SHORTNote
Looking for the big move under 440 now. 440-486 is Turn Zone or Breakout above.
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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.