Updated: Jan 28
*Accuracy rating update: 83% or 10/12 predictions correct*
Day’s Theme: N/A
Behavior Around the High: We’ll hit a key resistance level around the high.
Behavior Around the Low: The day’s low will likely be toward the end of the day.
An opportunity to open up a long position in the midst of a decline toward the end of the day.
On January 13th, we’ll open at the same price level or higher than on the 12th. We’ll have a high earlier in the day followed by a sharp drop from that high. There’s another crest or higher high midday. We’ll hit key resistance around that high and then break down with consecutively lower spikes up on the way down. We’ll then bounce along a support level and then break down through more support levels. In the midst of that decline into the end of the day, we’ll have an opportunity to open up a long position. The decline will likely bring us into the day’s low. That decline ends with a fast, sudden move to the upside. A key resistance level is highlighted around the close or in the post-market.
My sense is that we’ll open higher on the 17th.