NQ 5 Day Forecast (10-17-22)

NAZ getting ready to turn and test above some. Last Thursday may have been a poke test higher to check the buying interest and Friday looked like a weak low conviction slowly sell - sell off.
Play 1) White circle Buy Zone and Red, upper target or Sell Zone. Play 2) Red circle Short Zone and White Target and Strong Short Zone.
Reliable intraday indicators lately has been the push pull. See it look short, showing up in Open Session more vs O/N. O/N continues to Pump/Dump or Prop up with Open selling off. Still no ripping lower O/N sessions this year and feel we need a few limit down type, just because.

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IDS 50 View

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10608 looks like strong support

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A bounce at 608 may get NAZ to and passed upper channel.

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FNG+ and many Mega Cap tech are showing inverse H/S. Russel is also showing major signs of bottoming out. Small Caps typically lead out of a Bear, this may just be a Bear Rally should we see a run that may happen. Just looks like one may be developing.

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Inverse H/S and 400 point run. 1 way train, may see a U Turn as week plays out. Retest lower is likely as NAZ basically just stalled out.

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O/N prop above 11203 may test 11361, why not.

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11367 Hit, Why Not Indeed

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NAZ still in Channel in above chart. Will update later.

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Turn potential

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After sell off, NAZ is under upper Channel. Needs to stay above if Long side is playing out.

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NAZ back under 11201, looking lower.

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Mid channel potential.

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10750 could be next

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Targets for Friday

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Friday 10934 was my Strong Short below target, the NAZ hit it and became a strong long. The level was the edge and should the NAZ have gone below we would have seen a decent decline. I have seen this before and documented in posts, when the NAZ is near the big drop either in O/N (usually) or Open it has a huge counter day (usually a Friday). In my opinion, just a drop offset day or stabilizer.