Updated: Sep 4, 2022
False indication of something and an opportunity to open long positions in the midst of a decline.
An important technical level is highlighted in the pre-market. An important decision between two leaders with notable impact on the population is highlighted in the first half hour. We bump up against resistance and there is volatility as a result. We have a breakdown from traveling along a diagonal trend and we break down through it. Volatility picks up as we move down, with this all between 10am and 11am. The improbable happens between 11am and noon, and we revisit a creat and have a sharp decline in the following hour. There is an opportunity to cash-in on some positions between 1pm and 2pm. There is another decline, possibly from a crest or peak, between 2pm and 3pm. We have a rally along a diagonal trend to break through horizontal resistance to meet a second resistance where we pull back. In the post-market we have a prominent trough or bottom.
Around the high there are multiple headwinds pushing the market down. Around the low there is an opportunity to short, so there is a very sharp drop to a low here.