Month’s Theme: A notable resistance level on at least a one-year scale. We’ll sell off from that resistance level. That’s crossed with a rally that increases with momentum moving forward in time.
Behavior Around the High: There’s a decline off of the high through multiple support levels on a one-month scale.
Behavior Around the Low: Multiple failed attempts to break through key resistance.
Week One (4/3-4/6)
On April 3rd, we’ll have a notable fake out or shake out with some sort of false triggering of an indicator. I’m advised to be cautious on the 3rd. We’ll have a high for the month late on the 3rd or early on the 4th around the completion of a bullish trend marked by a decline. We’ll have a rally higher on the 5th to reach for a high where we establish support at least momentarily. We’ll move to the upside and that support becomes resistance again on the 6th. There’s a lot of price movement between the high and the low on the 6th. I’m advised not to chase any rally at the end of the day. The market is closed on the 7th.
Week Two (4/10-4/14)
On the 10th, there’s a pretty notable decline into a trough. We’ll then rally into a key resistance level, stay above it briefly, and then break back down through that resistance level on the 11th. We may have a lowest low on the 11th. We’ll move back up into a prominent crest with a notable rally on a multi-day chart on the 12th. There’s a U-shaped reversal on the 13th and another prominent crest or peak at the end of the day. We’ll have a sharp decline off of that crest or peak into a prominent trough on the 14th.
Week Three (4/17-4/21)
We’ll have more of a decline on the 17th into the end of the day into what’s likely a lowest low. On the 18th, we’ll have a period of volatility and a sharp drop within that period of volatility that stands out on a multi-day chart. There’s another prominent trough on the 19th. There’s also a significant trade opportunity on the 19th. On the 20th, we’ll see an important range on a multi-day scale that’s highlighted. We may hit the upper end of that range on the 20th or the 21st. On the 21st, we’ll decline from the upper end of the range to and through a support level to meet another support level on a multi-day scale. We’ll rotate along that support level into the end of the day.
Week Four (4/24-4/28)
There’s a gap up on the 24th with some bullish price swings. There’s a decline on the 25th that brings us to an important trough on the 26th. There’s a big move to the upside out of oversold territory on the 26th. We’ll meet an important price level on a one-year scale that we’ll fail to break through around the 27th and then we’ll turn around decline through key support on the 28th.
In May, we’ll have a decline that ends with a fast, sudden move higher.