Updated: Dec 12, 2022
*Accuracy rating update: 100% or 15/15 predictions correct*
Day’s theme: Erratic behavior back and forth through the same price level. We also revisit a crest in the midst of that erratic behavior.
Behavior around the high: Behavior around the high is nullified.
Behavior around the low: There’s a strong rally out of the low, pushing the upper end of a range higher.
An opportunity around a notable decline, possibly something to do with a global issue.
A trade opportunity near a crest midday.
On November 30, there’s selling from an overbought crest in the pre-market. There’s a rally around the open that increases with momentum moving forward into the day. Between roughly the open and 10:00 a.m., there’s some more selling from near overbought territory. We attempt to establish support at a crest somewhere between 10:00 a.m. and 11:00 a.m. A decline commences from that attempt to establish support around 10:20 a.m. We continue declining with bearish price swings as we move forward into the late morning. There’s a notable drop that will stand out just before noon.
It looks like we’ll have some bullish price fluctuations that precede a decline midday. We’ll then see some volatility that creates an opportunity to position oneself in both directions utilizing options. There’s a trade opportunity near a crest around this time. There’s a lot of price movement out of a decline in the last hour. Around the close, there’s a rally along a diagonal trend line where we then break through horizontal resistance, meet a secondary resistance, and then pull back to somewhere between those two price levels. The rally continues into the post-market.
It looks like we’ll open higher on the 1st.