NQ 1st Quarter 2023 (12-27-22)
The Long path of the NQ, should a Pop be in the mix. Blue TL is the Long above, NAZ has been bouncing off. Looking for 1st Q bounce and fall back to and below Blue TL. Yellow horizontal lines are TLX's (trend line cross), these are reliable KL's (key levels) that have developed the direction. Recent support at 10879 did retest the huge "air pocket" day in mid November. The 1 day helped to hold the NAZ higher and away from Danger Zone for over a month and a half, thinking we get one more prop prior to the big drop that is on the way. Should the NAZ not Pop (which may happen) use the Blue TL as a Strong Short.
Disclaimer: This is a guide and not a guarantee of actual events that will actually happen. Some followers seem to not understand this concept or method. If you have questions or do not understand this concept, please unfollow and move on to other TV Author's.
Disclaimer: This is a guide and not a guarantee of actual events that will actually happen. Some followers seem to not understand this concept or method. If you have questions or do not understand this concept, please unfollow and move on to other TV Author's.
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NAZ may try for 30MA (11500) or top of Danger Zone. NAZ above 30MA (white) has supported moves higher.
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On this trade or idea, you can reference the book: Market Maker's Matrix by Even Christopher ($10 Amazon). Great book and real inside to stop clean outs and such. Again, idea may or may not work and that is OK as we can go short.
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Chapter 6 will sound familiar to followers that have been with me for awhile.
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Do not get to excited or worried about the NAZ or various Indexes dropping next quarter. The interesting thing is shown in the chart below. The current level of the NAZ was propped up in 4 days and most was in 1 minute move pre Open on 11/10. The drop has taken 34 days to get back to where the 4 day pop started. It seems that the selling is slow and struggling to drop and the buying is quick and has massive moves. I would think if things were bad, the roles would be reversed. Now that we are back a Prop Zone ground level, we may expect another jolt to help stabilize the markets for another 20-30 trading days.
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Follow up to above chart, NAZ went up 270 points because of why? Now it may drop some or get lifted a bit more prior.
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NAZ will need to pass 2 Hammers
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Last hour U Turn at 950, again.
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Going to the circle above.
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2022 Previous 3 point bounces, 11500 may be next test higher should the current U Turn play through.
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NAZ at 11600, from 12/28 & 1/1 comments. Looking for drop near 11730 - 80
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