NAZ is longest/narrow sideways range, in months. Banging on Diablo (orange diagonal TL), in 3rd leg or bracket bounce and stalling out. No Fed no rally, white vertical boxes are huge Fed Pop days that are followed by sideways to lower PA. TLX 12893 (red line), Long above and Strong Short below. NAZ staying under TLX, should retest Mid Level of SZ (shaded zone). Above TLX, 13600 is in view.
Value Area/Air Pocket Yellow Dash is POC, White Dotted Top/Bottom of Value Area. Retest lower VA. Drop Play.
Minus 2-3 day Fed Prop (yellow circle), VA bottom drops and lower target drops. Air Pocket will bust and usually does, unless their is a Fed Day to prop back up. This may explain the sideways (stabilized) move, until then.
Just view 3 white verticals and see the PA after. NAZ is now struggling to stay higher and has shifted from struggling to get lower. May see a drop test prior to pop up. Favored over a Pop/Drop at this time.