Despite Friday, the markets had a positive week. Think next move is higher as test, prior to next drop. My Thursday Post was 1 day late and for Friday. Looking at Monday, going with pop/drop. The MOP (channel prior to 100 point move) have been reliable, the circles are potential MOP's and the oval was the previous MOP that developed the drop. That is what I was suggesting in the Thursday Post, just did not have the conviction as to the MOP indication new. I many times will go counter trend against the 1 way snail NAZ (I need to work on that). I just do not fear this index. Below, failure at 908 may target 706. Regarding Rigger's (add my digs at that reference), I am connecting it to Option Houses and institutions that use. If any of you are familiar and know of some good (non retail trader) books, let me know.
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Box Update KL's are lines:
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Box 2 year, NAZ still playing in the Channel.
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Box Forecast
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1st move may be lower, when Yellow Dots are higher than White, usually the case.
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Gap Open, Mop it.
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DB at Lower TLX, above lower target. Above thick white TL is key.
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Playing the MOP, Shorting under orange line on white peaks is working IDS 27.
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Noticed this on Friday, IDS 20 is showing better lines than IDS 27. I use lower number in holiday or O/N volume. Kinda of odd here, bu showing better. The box is a view of clear signals and prior is choppy noise.
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TLX 10979 is Long above and Short below for now. O/N looking like a 80 point MOP or Channel, 35 is Mid Level, may bounce if stays above 35. Target trading, longs to target and get out, same on shorts.
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11044 is Friday low and bounce off to top MOP is likely. NAZ did fill the GAP and may retest.
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IDS 50, yellow lines are KL's from Friday, NAZ may work these on any lift.
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IDS 20, NAZ at TOP MOP, may retest Mid Level.
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White arrow shows prior Divergence on IDS 27, slight developing now, close stop on Long. Could be PB and not s Short.
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Stepping away, you can see why I think trading the MOP is more lucrative than waiting for the runners. Channel trading is highly probable/reliable. I tend to use 3-5 times normal contract size when playing. Here at top MOP (80), NAZ may whip up/down 10-15 below 80, then drop back to 35 for a test and bounce back to 80.
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One more note: Usually when Yellow Dot is above White a drop is coming and rarely the opposite is true of a decent POP. Anyway, a big move is on the way.
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Break 80, target 11136.
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Got to 30, 40 next after PB.
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Out of MOP should be 100 plus, may reset 80 during Open.
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36 hit.
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Above blue is long.
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11201 is upper target above blue.
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Long above 11020. Back to top MOP.
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Lower circle hit, look Long.
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11000 target. Should low hold.
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NAZ should test bottom of 1st 30M.
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Long above 10960 to 11000
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Pass 11000, should see 11060. Relatively tight range from Friday and O/N low. 20 points off O/N low.
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Push Pull should end passed 11000
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Push Pull over.
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11000 hit
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Drop/Pop, should rotate some and lift. Stepping away.
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Big move out of lower Circle.
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Long at 10910, will target 960. Counter moves are basically similar to Trend moves. More of a snap and can catch momentum and run after a long drop.
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If you are playing counters, use targets and stops. Watch the Ticks.
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Divergence on Long Side showing up on IDS 27. Should Snap Here.
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Ba Bingo!
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May see Pop Gaps to upside. NAZ needs to get higher in order to get lower. sounds strange but is what it is.
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NAZ PA will get confusing here, think upside down or reverse. Will try for a rally some.
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Target 60 Hit. This should be 1 way Runner. Trail it as many will hop on late.
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This is some beyond basic trading and a good example for you to remember, BLOCK the noise.
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Big Gaps should continue as the Shorts cover and BTD's step in. Could be a Pop test so trail it.
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White arrow is Long Call, 11201 is 1st target, then 11289.
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NAZ can't get passed mid of original MOP.
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Сделка закрыта вручную:
Will do in O/N
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Hopefully you took profit neat 44.
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Playing counter moves produced more points than NAZ decline. Soon the selling will give way.
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Today you will notice the Play TL's in opposite direction was once again reliable. KL now is red TLX at 10979. 908 did bounce to 043.
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O/N Bullish Divergence (potentially), never know with O/N. 9:15PM CT