Amazon Predictions for October 2023 (Paid Version/Best Trades)

Month’s Theme: A U-shaped dip that forms near the intersection of two perpendicular diagonal trend lines. That’s crossed with a move higher and a retracement back down.

Behavior Around the High: An unexpected move to the upside to reach the high.

Behavior Around the Low: An important low toward the end of the month.

Exclusive Trade Opportunities for Subscribers:
- An opportunity to open 25% of a long position on the 16th. On the 23rd, I’d add another 50%. On the 27th, I would buy the remaining 25%.
- An opportunity to open a short position at the beginning of the day on the 18th and hold it until the 23rd.
- An opportunity to open a long position on the 23rd and hold it into the following month.

Overview

On the 2nd, there’s a fast, sudden move higher out of a decline. There’s a high for the month early on the 3rd. There’s a decline into a trough at the end of the day. On the 4th, there’s a big move higher out of a low. On the 5th, we’ll have mixed behavior and a sideways S-formation that forms within a channel. On the 6th, there’s a trough early in the day. There’s a failed attempt to break through key resistance and a decline through key support.

On the 9th, there’s a rally that ends with a decline through key support. That decline continues into a trough on the 10th. We’ll then have a big move out of that trough from the bottom of a range to the top of a range. That move to the upside continues into the 11th. We’ll have another big move to the upside at the end of the day. There’s a peak or crest on the cusp of the 11th/12th. There’s sideways rotation on the 12th that ends with a fast, sudden move higher either late on the 12th or on the 13th.

On the 16th, there’s a notable decline through multiple support levels. On the morning of the 17th, there’s a big move to the upside out of oversold territory. On the 18th, there’s a notable decline. On the 19th, there’s an important resistance level early in the day and a lot of price change to the downside. On the 20th, we’ll rotate sideways and attempt to establish support. There’s likely a gap down over the weekend.

On the 23rd, we’ll meet a low early in the day. On the 24th, we’ll move higher through resistance, stay above it briefly, and then break back down shortly thereafter. On the 25th, there’s three pokes through the same price level. After the third poke there’s a sharp decline into a trough. On the 26th, there’s a peak or crest midday that we’ll sell off from down to and through support. We’ll then do a U-shaped reversal back up. There’s a gap down overnight into the 27th. There’s possibly a peak or crest at the end of the day.

There’s a sharp drop or gap down overnight between the 30th and the 31st. There’s a prominent trough on the 31st.

Sneak Preview

A sideways-fluctuating rally that precedes a decline.