Month’s Theme: Multiple failed attempts to break through a key resistance level. There’s a significant move in the middle of the month and some significant price swings.
Behavior Around the High: Sideways fluidity around the high. We’ll probably see the high twice. My sense is the highest high is on the 15th or 16th.
Behavior Around the Low: We’ll establish support around the low and then have a notable move to the upside that stands out on a one-month chart. The lowest low is most likely on the 28th.
Overview
Week One (3/1-3/3)
On March 1st, there’s an unexpected move to the upside and a prominent crest or peak when we meet the upper end of a range on the 1st or 2nd. On the 3rd, we’ll open lower and then rally along a diagonal trend line. We’ll break through horizontal resistance, meet a secondary resistance, and then pull back to somewhere between those two price levels.
Week Two (3/6-3/10)
On the 6th, there’s a sideways S-formation within a channel. On the 7th, there’s a sideways fluctuating rally that precedes a decline. The decline starts toward the end of the day. We’ll gap up to a high on the morning of the 8th and then decline again. On the 9th, there’s an important resistance level highlighted and an opportunity to play both sides with a straddle/strangle. There’s a prominent low at the end of the day on the 9th. On the 10th, we’ll open higher and then drop through multiple support levels. There’s a speech at the end of the day that can be trusted.
Week Three (3/13-3/17)
On the 13th, we’ll likely hit the same resistance level that we saw highlighted on the 9th. That price level offers another opportunity to position oneself in both directions. On the 14th, we’ll decline from a support level down to a second support level and rotate sideways along that support level for a bit. That’s followed by a breakdown through multiple support levels. On the 15th, there’s a male ruler highlighted and some price swings. There’s a highest high on either the 15th or the 16th. On the 16th, we’ll have a rally that offers an opportunity to day trade. There’s a new prominent trough after the previous high. On the 17th, we’ll fail to break through resistance and then decline through support.
Week Four (3/20-3/24)
On the 20th, we’ll have a rally that increases with momentum moving forward in time. On the 21st, we’ll decline through multiple support levels on a one-month scale. On the 22nd, we’ll break out through a key resistance level on a one-month scale. On the 23rd, there’s a sharp drop that stands out within a period of volatility. On the 24th, we’ll either open higher and have a hard decline at the beginning of the day or we’ll gap down in the morning. Either way, we’ll have three pokes through the same price level and then have a sharp drop after the third poke.
Week Five (3/27-3/31)
On the 27th, the decline starting on the 24th continues. That decline increases with momentum and most likely brings us into a lowest low on the 28th where we’ll establish support. There are some price swings between the 28th and the 29th. On the 29th, we’ll go from a low to a prominent crest or peak. We’ll decline pretty hard toward the end of the day or overnight into the 30th. On the 30th, we’ll revisit a crest in the midst of erratic behavior back and forth through the same price level. On the 31st, we’ll fail to break through key resistance and then decline through key support.
Sneak Preview
In April, the high will be higher than March’s highest price level. There’s sideways rotation along key support, rising to meet the nearest resistance, and then falling back down to continue rotating along support.