Updated: May 29
Month’s Theme: There’s a decline to reach a support level that was recently a past opportunity. That’s crossed with a crest that we sell off from down to and through support. We’ll then do a U-shaped reversal below support and then come back up to reuse that price level as support.
Behavior Around the High: The highest high for the month is likely on the 4th.
Behavior Around the Low: Not specified.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a short position on the 4th after a prominent move higher on a one-month scale. I would close that short position toward the early part of the afternoon on the 11th. A less prudent exit opportunity would be at a low on the 18th.
An opportunity to open up a long position on the 18th. A less risky exit point would be at a high on the 24th and a slightly more risky exit would be on the 31st.
Week One (5/1-5/5)
On May 1st, there’s a trade opportunity and a notable decline that stands out on a one-month chart that brings us to a support level. We’ll then rotate sideways along that support and end that sideways rotation with a fast, sudden move higher. There’s a decline on the cusp of the 1st and 2nd or early in the day on the 2nd. That decline leads us to a trough toward the end of the day. Out of that trough, there’s a rally along a diagonal trend line that breaks through horizontal resistance to meet a secondary resistance before pulling back to somewhere between those two price levels. That rally will take us to a peak or crest on the 3rd. We’ll sell off from that crest or peak through multiple support levels. On the 4th, there’s a significant move to the upside that will most likely take us to a month’s high after establishing support on a one-month chart. We’ll likely gap down overnight. There’s a rally on the 5th.
Week Two (5/8-5/12)
There’s a significant move to the downside on the 8th which takes us into a lowest low on the 9th. On the 9th, there’s a period of sideways rotation and possibly something to do with a merger or a decision between two leaders. There’s a pretty strong resistance level near the low. Out of the low on the 9th, there’s a rally into the 10th. We’ll then see another sharp drop into another lowest low on the 11th. Out of that low, there’s a sideways fluctuating rally that precedes a decline. That will take us to another important resistance level on the 12th.
Week Three (5/15-5/19)
We’ll decline with consecutively lower spikes up on the way down into the 15th. We’ll break down through multiple support levels on the scale of a one-month chart on the 16th. On the 17th, there’s a sharp drop early in the day and then a rally that probably takes us to a prominent crest or peak on the crest of the 17th and the 18th. From that crest or peak, we’ll decline pretty notably on the 18th which will take us to another low for the month. Out of that decline on the 18th, there’s a significant move higher on a one-month scale on the 19th.
Week Four (5/22-5/26)
There’s a rally into a resistance level that we’ll bump along early in the day and likely gap down on the 22nd. There are bullish price swings on the 23rd. There’s a speech that can be trusted around the cusp of the 23rd and the 24th. There’s a peak on the 24th that will stand out on a one-month chart. We’ll move higher through resistance, stay above it briefly, and then break down through the same price level shortly thereafter. On the 25th, there’s sideways rotation or a holding pattern of some kind with a pop and drop. There’s a period of volatility and a sharp move to the upside on the 26th.
Week Five (5/30-5/31)
The market is closed on the 27th. On the 30th, we’ll have three crisscrosses through the same price level confirming a bullish trend. That will take us into the same peak or crest that we saw on the 24th. We’ll move through resistance, stay above it briefly, and then break back down through the same price level with a full retracement on the 31st.
In June, it looks like we’ll probably have a higher price level and a prominent peak or crest in early June that we’ll break down from.