Updated: Nov 30, 2022
*Accuracy rating update: 100% or 11/11 predictions correct*
Day’s theme: A notable move to the upside.
Behavior around the high: There’s the beginning of a rally into the high. We then meet a key resistance level and bump along that resistance level for a bit before breaking back down.
Behavior around the low: We have a breakout out of the low.
Trade opportunities: N/A
On November 4th, there may be something to do with congress or a holding pattern in the pre-market. We’ll then drop through a support level that we recently broke through. In the first hour or so, we’ll see a sharp decline that continues into the afternoon. Between 11:00 a.m. and noon, there’s three pokes through the same price level followed by a drop after the third poke. There’s a bit of a rally along a diagonal trend line midday, however that ends abruptly with a fast, sudden move to the upside. This is followed by a sharp decline through that diagonal trend line with increasing volatility on the way down. We break down through a critical resistance level, likely on more than just a one-day chart.
Out of the low, we have a big rally higher. There’s a breakout to the upside starting in that low that takes place roughly between 2:00 p.m. and 3:00 p.m. and continues into the end of the day. At the end of the day, we have a sharp drop right around the close or in the post-market.
A big move to the upside around the open on the 7th.