Updated: Oct 3, 2022
Decline through multiple support levels. Local low and trade correlator for the month on this day. We have the Ace of Cups, Queen of Disks, and the Fortune card. We have a U-shaped dip, a revisiting of an opportunity, and a push higher with a reversal.
Behavior Around the High:
Criss crossing three times through the same price level.
Behavior Around the Low:
Establishing of support.
There is a push higher and a reversal in the pre-market, which serves as a trade opportunity around the open. In the first half hour there is a big push to the upside with a selling within an overbought location between 10am and 11am. This is followed by a trade opportunity and a high, which takes place between 11am and noon. The high is much closer to the 11:00 mark. It looks like there is a dip to a trough around 11:45ish. There is an opportunity to play both sides of the market using option spreads. There is a crest around 12:30pm, and news comes out between 1pm. There is another revisiting of roughly the same high and another sharp decline that happens between 12:50pm and 2pm. There is also a big push higher between 1pm and 2pm. We are range-bound between 2pm and 3pm, then there is a push higher into the close. There are economic leaders highlighted here. Then we either have a low, a push higher, and a decline, or we have a fake out after a push higher.
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