Since ATH the NAZ has struggled to get lower and has produced fast retracements (with force).These lifts in price appear to be like "falling bridges" to next decline. The 10630 hold/pop may be the start of "lift bridge" should it hold up through earnings week. The U Turn on Friday may of helped with providing some cushion. Key Levels above are 12,000 & 12,300. White arrow is Long play and Yellow arrow is Short set up. Overnight/After Hour trading will be the focus this week and usually moves in the Up direction (most of 2022).
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NAZ could be set up for a Huge Bounce as 3 year POC is yellow dotted line or current price. Lift Bridge needs to lift passed 12,100, 12,300 & up. Rejection and look Short.
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1 Year POC, same. May be solid base?
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POC held today and NAZ hit Fib Level 11980
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NAZ rejected 12010 (near 1st yellow line 12069) and has fallen 250 points in O/N. May see 11640-20 before a bounce.
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Today NAZ was rejected at 12069 KL, second attempt by EOD.
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Hit Top target and rejected.
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Circle is the Battleground or range to watch (until 2/1),should NAZ retry Top.
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NAZ at 12500, may be the Max POP. My Target is 13600, not sure it gets there. We will see.
