*Accuracy rating update: 100% or 9/9 predictions correct*
Day’s Theme: A notable move higher. A very bullish day overall.
Behavior Around the High: There’s an unexpected move to the upside to reach the high out of a decline.
Behavior Around the Low: Out of the low, there’s a big move to the upside that pushes the upper end of a range higher.
Trade Opportunities:
A possible day trade opportunity in the midst of sideways fluctuations in the mid or late morning, however it isn’t clear which direction will be profitable.
Overview
On December 27th, we’ll have sideways rotation that ends with a fast, sudden move higher in the pre-market. That move higher ends around the open and then we have a notable drop in the first half hour to meet an important trough. We’ll then have another move to the upside that pushes the upper end of a range higher. There will then be some sideways fluctuations with a bearish trend preceding a rally. There’s a day trade opportunity in the midst of those sideways fluctuations, however it isn’t too clear which direction will be profitable.
It looks like there may be another move to the upside around 11:00 a.m. creating a near overbought peak or crest. From there, we sell through a support level that we had recently sold through. There’s a holding pattern midday that has something to do with congress or a male leader. We’ll have another prominent move to the upside toward the middle of the afternoon.
Sneak Preview
We’ll likely open roughly around the same price level on the 28th that we ended at on the 27th.