Updated: Sep 4, 2022
A courageous rally commences out of a decline.
There is a flight to safety in the pre-market and a prominent move higher right around the open. It is a fake out and we hit the upper end of a range. There is a trade opportunity around the open and 11am. This opportunity will be to open short positions and puts. Between roughly 11am and noon there are spikes up on a decline, lowering and reaching moving averages on the way down. There is a prominent move higher between 12pm and 1pm. An important support is revisited and it is between roughly 1pm and 2pm, and there is an opportunity in the midst of a rally. We can buy some puts and protection in that hour as well. In the following hour there is a decline through multiple support levels followed by moving into the close. We pick up momentum in that decline. There is a big push higher right around the close and that is undone in the post market.
Opportunity to cash in and roll.