The Monday move has propped the NAZ up and makes the next move very hard to predict. Option 1 is white and 2 is yellow. O/N should be flat and expect a 1 way blast at CPI release. Gov't related news has been moving the markets the most recently and I expect this will continue. The U Turn in the Danger Zone today, may be just another prop drop/offset and will help to stabilize any hit. After pre Open move, it will be interesting to see the 2nd reaction (buy dip or fade rally).
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Note: For those that follow, after 3 years and nearly 500 Daily TV Post's, I will be ending the Daily Forecast & Intraday free service. I am moving to a private service that will use TradingView Charts, including my IDS Indicators. Message me if you have interest. I will continue some usual post's through the mid/end of February or until new program is ready. Thanks for following and all your support.
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Really thinking to just place a huge Short, feeling that the current level is pure prop. The chart below (box) is the weekly range of last week. The Fib level now is .618 and this is after 1 day.
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IDS100 The yellow arrow divergence does support the Short. Only issue is the could be start of run as O/N volume does skew the indicator. Just feels like a drop is on the way.
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Short at 12650 with target of 12400, Potential play on short side. Long is 12700 and sideways.
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Stall above and drop below 12300
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Pump dump, playing out. Short under 12650
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Strong Short under 12525
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If you are shorting use a stop as Knee Jerk is likely or wait.
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Funny Bloomberg was just talking about "Why yesterday was up"? They also said that explaining every tick is stupid. My take is in line and I go with the Tricks, Games and whipsaw that just keeps ripping Joe Lunch bucket. All done ny the Pro's and only Trader's may understand these moves. My current Short call has a 50/50 and we will see. Today may be 2 way as we are at a cross road.
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Bingo Short Scalp
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Now the 2 way, any stall after Open may sell big. NAZ is stall in last weeks range. Games will come to an end and the fall is likely.
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Careful in this Box
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WHIPSAW, Wow! Box break is next big trade.
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Back after Open.
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12545 is Key and Flat for week and day. NAZ will magically try and stay above and any drop below and stay under will sell off.
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IDS20, Watch for white tips being Sold (under Red Line)
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12460 Long bounce scalp, look for.
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Back to 545 test is likely.
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Drop test and may see 1 way lower day as this stalls out on upside. Stay Short under 545. Back later this will be slow and painful until we get moving.
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Strong Short under 625
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This lift should drop some, stall on next attempt higher and the drop further. May be today or tomorrow. Back Later.
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Pump Dump #2 or is this 3?
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Magically Flat again, Games.
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3-4 way Scalping
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12350 is next for Bounce or Long above and Short below.
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425 must hold for long here
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425 retest hold is long scalp to 545, otherwise stay short
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NAZ continues to being held up.
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Circles are strong Resistance and a pass is a Long.
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The idea or game today is to whipsaw you out and then the big move is on. This move is most likely lower as the stall outs persist. Dead Zone PA is usually the opposite of major move/trend.
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Watch this move may be actually targeting 12350.
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12585 is Long above and Short below.
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Hold Long as it may pass 540, trail it.
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Flat again. This is so rigged not even fair.
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You can just imagine the noise and confusion that is going on in other trading rooms. Love it.
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OK, no pass and look for 350 as next target. Need to let this play out, longer than you may think, Back Later.
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350 only should NAZ pas 465
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559 and under revers trade.
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Stay LONG Ticks just POPPED, TRAIL
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12585 is last test on way up.
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BTD/FOMO'S Buying and Shorts are covering. Needs to keep moving are down we go.
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Mentioned today would be painful, Still feel drop is likely. Trail
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Now under 585 is key.
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Once Stop clean out done should drop. Closed Long, looking short. Looks like Edge Trade developing.
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This will move just watch ticks in final hour and may go up.
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680 is upper target on Long if you are Long.
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Long not much higher than high, making it look tempting. May work and usually does. thne they drop it, usually. You should have points to work with, this is the way it goes at this time of day.
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535 was 100 point move and next 100 may be lower. Stalling is clue. Remember, most traders trade long only and is why the lift keeps coming back, this is normal.
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Pro's will wait for stall and then rip it lower.
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The Rip may be higher, which is better from their POV
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602 is Top 1st 30M, watch the level.
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Notice the weakness and stall out, why is that if going higher with strength? Just odd. Again, it can go higher so be patient. The shorts at the bottom got out and covered which is why we saw the lift, not because of real buying.
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Here we go for another drop test.
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Long Trap / Edge Trade combo would be nice here at 600ish
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No Fed No Rally, lets see. Again, bias is always Long until it is not.
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BTD/FOMO crusher attempt. A hold is decent move higher. 602 is level to break.
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O/N high is 640, we are usually under that also. Under 640 should try 600.
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Ba Bye is likely and may be in final 10M (under 640).
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Flash Crash? Why not. We need that.
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602 held. BTD. Needs to pass 640, Just a huge run here to the Long side, really. Do you think the NAZ will run 100-200 points in the final hour? If so, better short for tomorrow.
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We will keep seeing the U Turns every time we get near Danger Zone. 12400 is Danger Zone
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final 2 minutes had the same movement amount as entire final hour, that is bullish. Yeh. Danger Zone break through on the way.
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O/N may be the place to play tonight. Low volume and we still have not seen a limit down O/N session the entire Bear. This have never happened since Futures have been in place.
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I have been saying that big moves happen at/in off session times. Look Short in O/N.