Grinder flush out, projections. The 7 day Grinder Run has met a 2 day drop. The 2 day drop has wiped out 4 Grinder Days and covered 650 points. Yellow Arrows show support and upward movement/projections. White Arrow is the downward. White TL is likely path south and Yellow Dotted would be crossroads. Tomorrow PA will be confused, either a Drop & Pop or Pop & Drop can be played. The other option, straight Drop to 15900 for a bounce test back up (unlikely based on today's bounce). Holiday balance of week, may see a lift higher (normal low volume PA). All 4 Update below:
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Watch Diag TL and KL's are 16278 Upper/ 16227 Lower
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Look for Buy bounce at 16140 level, if not NAZ will test yesterday Lows.
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Look Long 1st Trade, NAZ in area that may be defended by yesterday Buyers. (Mopping Up Area). 1st target 16220, 2nd 16280.
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Mopping Up Area Defended, 1st Long target hit at 16220.
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Expect PB to 16180
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If you are trading today, use Targets (do not hold position after target is hit).
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Stepping away, Current Range is 16180 - 16240.
Trade fechado: objetivo atingido:
16170 is Strong Support and is where the NAZ got its Pop. Today look for NAZ to hit 16300 as High and then play in the Range and possible test of 16170 - 40 level. Have a great Holiday.
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Put Stop on Long, May see drop back down on All 4:
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Slight sign of Bearishness, NAZ currently at Lower High/Lower Low flow. This could play out for Bears.
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16309 is Resistance and New Upper KL, Look Short under. New KL's Upper 16309 / Lower 16180
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Top Mop complete.
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16232 Test may be next should NAZ re approach 16260. Still Lower Lows and Lower High on NAZ for the day.
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Bounce off 16260 is the fact that Propping has returned and look Long. 2 way trading is now over or major Long Trap is developing. NAZ back to ATH is likely by Monday Open, the sellers may have left the building.