NAS within potential strike zone for MTF shorts

After a massive rally in the first half of 2023, coming close to previous years high and ATH the US100 now starts to show weakness. The July monthly breakout failed and August printed a FRM as a strong mid timeframe bearish signal. This played out in September and now the signal for October is still a bearish one with a M2 3MC bearish sentiment. The trapped traders from July breakout are still trapped above the breakout deathline and Daily market structure is still bearish as long as price stays below September highs.

The 4h timeframe shows the triangle pattern going into the FOMC meeting last month, that lead to a massive breakdown after 2 consecutive inside weeks pointing to a large range expansion move. Last week of September then printed a bullish first green week signal with a failed weekly breakout at the low of the month, that initiated a relive rally for beginning of October that came up in 3 mid timeframe pushes into a potential strike zone for shorts, hitting massive weekly and monthly naked point of controls and reaching the mid timeframe .618. 4h market structure is still bullish at this stage and we are in a W3 after the failed breakout pointing to a large move within this week.

The 15m minute time frame coming into this week shows this pullback in detail. We now have 3 days of consecutive breakout longs in the market from Monday on, Tuesday broke out of Mondays Opening range with a strong days 2 continuation move hitting the naked weekly point of control of the massive drop from 3 weeks ago, heading into parabolic Wednesday. Currently 15m as well as 1m market structure is bullish and we are heading into PPI major red news announcement in one hour...

We need to be careful and watch the reactions of price to the news catalyst events today and tomorrow. at the moment we don't have a sign of weakness on the lower timeframe, but on a higher timeframe we are clearly in the strike zone for a short. It could become a very clean Pump and Dump pattern during this week reversing today or potentially tomorrow or friday. Have patience. Watch timings, levels and behaviour of price. This could be a massive 5 Star short opportunity targeting September lows.
(The Thesis generation for this setup follows Stacey Burkes Trading Style, if you are interested to hear more about it reach out.)