"NAZ in a BOX" Drop/Pop set up at 11480, break then going to TLX (Red Line) 11202. Many times I have mentioned the fact that we just do not see Down Opens and Down Overnights. WE ARE DUE and it is Normal Bear Price Action. After six months should it show itself? Probably not (just yet), so go with Pop off 11480 or 11202. Should these stall out, we will most likely see a serious push down (next week or so).
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Upper Chart, All other world indexes are lower. Look for US to follow and NAZ to test 11580, then 11480. TLX Range is 12029 to 11202
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Red Line 11680 (old TLX) is resistance and look short under. NAZ may attempt to pass or retrace back up. See a Double Bottom forming at low, could fake bounce
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You can try a Long at 11620, if you want close at stall. It will come back down.
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Long targets, 11660, 90 then 11800. Needs tp pass 11680.
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Why the Long? NAZ needs to go up and grab some shares to take lower. Strange but makes sense since supply may be low down here.
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NAZ Mopping up under 11660. If Long use very close stop. The Long is a quick counter trade, 60, 90 may ne max.
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11620 just tested for Pop here, needs to hold.
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Should move towards 60, 90. Close on stall this is a scalp. Stepping away, back after Open. Whipsaw for next 3 hours in Overnight's range. We are at lower end of Range.
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Long at 11575 or near.
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Target 675
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Sideways to up for a few hours.
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Target hit, close for now or trail.
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11835 Target and Short at Level.
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Stepping away, NAZ could be running up again to gather shares to take back down. Whipsaw most likely.
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2 hours to go and in same Range, whipsaw up/down. It may pop as many have walked away.
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Tight Range, NAZ can go either way from here, nobody knows JACK. All you can do is react. Since the range was narrow, the move will most likely be a BIG one. So do not get caught on wrong side.
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Old Chart update, Notice Top/Turn. Lower Red Line may be Bottom? NAZ still in Box.