Month’s Theme: A sideways-fluctuating rally that precedes a decline. That’s crossed with a fast, sudden move higher standing out on a multi-day scale.
Behavior Around the High: A notable opportunity standing out.
Behavior Around the Low: A significant fake out.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a short position on the 6th and close it on the 7th.
An opportunity to open a long position in the midst of a decline on the 11th.
Overview
On the 1st, there’s a prominent trough that will stand out and a big move out of that trough. On the 4th, there’s a prominent peak and a prominent trough highlighted with a lot of price change. On the 5th, there’s a rally higher in the late morning. On the 6th, we’ll go from a trough early in the day to a highest high in the midst of price swings. If we meet that high I would open a short position and close it toward the end of the day on the 7th. On the 7th, there’s sideways rotation and a lowest low thus far. We may see the same low on the 8th.
On the 11th, we’ll have a trough at the beginning of the day and a trade opportunity. There’s then a significant peak toward the end of the day. We’ll likely open lower in a trough on the 12th. On the 13th, there’s a sideways-fluctuating rally in the midst of which we’ll break through key resistance and then decline back down through the same price level. The high is either on the 13th or the 14th. That high offers an opportunity to open a short position. On the 14th, we’ll likely open lower and have a pop and drop. On the 15th, there’s a notable decline early in the day with new support levels created on the way down.
On the 18th, we may gap down or open lower, however there’s an unexpected move higher taking us back to a highest high. On the 19th, there are multiple failed attempts to break through key resistance. We’ll likely open lower on the 20th and then possibly have a breakout to a peak or crest midday. On the 21st, there’s erratic behavior back and forth through the same price level. On the 22nd, there’s another notable decline where we’ll revisit a support level that we met once before.
Market is closed on the 25th. On the 26th, there’s a gap up early in the day where we’ll fail to break through key resistance and a decline through key support. On the 27th, we’ll have three pokes through the same price level and a decline after the third poke. On the 28th, there’s a move higher reaching for distant resistance. On the 29th, we’ll establish support with sideways rotation on a multi-day scale. That’s followed by a big move higher on a multi-day scale.
Sneak Preview
A notable decline in January.