NQ 1st Quarter 2023 Update (01-17-23)

On 12/27 I posted the 2023 1st Q Forecast, so far looking as planned and may see drop near 11,700 - 800. BTD's & FOMO's helping the lift. Will update as we go.

Comment:

TL Chart, 11,933 may be max lift should NAZ pass 11,700-800

Comment:

NAZ 6 days or gains, Since recent bottom the NAZ has produced the following:
800 point move (buy/Hold)
Trading major moves 2,198 / ave day 366 / ave trade 314
ave Long 382 / ave Short 224
Mentioned in many December Post's that the drop seems slow and NAZ was struggling to get lower. The recent pop was expected. The next drop or drop/test will move very quickly. If you are Long or buying the dip, place a trail stop. You can see by the recent run averages that we are 1 Long Trade away from 12,000. Should this or any Long trade get rejected at/near major levels (11,800 - 12,000) that is when the quick drop would most likely come in.

Comment:

Not sure about Monday Holiday PPA, looking at Box Zone for Monday O/N into Tuesday set up.

Comment:

NAZ may break out in O/N Prop Action Zone and just head higher to upper target and stay above 11600 level. This is likely. The normal move would be to drop and retest 11500-450 level, prior to run. Either way, NAZ should stay in the Box until Tuesday Open Drive.

Comment:

Pay attention to the Mid Channel and Mid Stoch on IDS50. Past 2 days the NAZ has been consolidating to go higher or fail then drop to and out of channel.

Comment:

100 and 200 MA may be upper targets or turning points.

Comment:

KL's for O/N

Comment:

KL's On drop, Long above and Short below. On lift, Long on pass.

Comment:

IDS20, Confirmation

Comment:

No Confirm

Comment:

For O/N and Tuesday. NAZ under TL, rejected. Strong Short under 11500 - 470. Long on Hold back to TL.

Comment:

Look at the spaghetti chart above. 11564 KL goes to 11520-00 as the drop test should play out. IDS20 below

Comment:

Try this for Tuesday

Comment:

1st Turn Near Target

Comment:

TLX Hit, watch 11556

Comment:

11440 break to 11200, NAZ did turn near target.

Comment:

YTD, NAZ still in the Box after 8 Sessions.

Comment:

Let's see how this plays out.

Comment:

Retest prior to next attempt higher.

Comment:

NAZ rejected near KL 12069 and may be going to 11650.

Comment:

NAZ went to Top of range, I am extremally Bearish as NAZ is at top of expected range. Looking for a pull back.

Comment:

01/30/23 week

Comment:

Comment:

12500 hit, Not sure we see another 1,000 points.

Comment:

2/3 Intraday call/price action hit Key Level 12868 was rejected and fell. This is near what appear to be a area where we could see another drop tp 12,300.

Comment:

Trend angle getting pretty steep

Comment:

NAZ is on KL 12329, should retest and bounce Monday 13th.

Comment:

NAZ in 300 point range,

Trade closed: target reached