Day’s Theme: A bearish day overall.
Behavior Around the High: A sideways-fluctuating rally that precedes a decline, however that behavior is somehow nullified.
Behavior Around the Low: Not specified.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a partial long position for an overnight swing trade at a trough between 11:45 and noon. You could open the rest of the position toward the close.
An opportunity to open a short position for a day trade at a peak around 12:15. I would close that after a move to the upside in the last hour.
We’ll attempt to establish support in the pre-market. There’s multiple failed attempts to break through key resistance at the open. That’s followed by a pop and drop with a lot of price movement to the downside. There’s a lot of volatility to the downside between 10:00 and 11:00. We’ll end up in a low midday. There’s a trough around 11:45 or noon that offers an opportunity to open a long position for a swing trade. There’s a quick move to the upside taking us into a peak or crest around 12:15. That offers an opportunity to open a short position for a day trade. We’ll sell off from that crest through multiple support levels between 1:00 and 2:00. There’s sideways fluidity or equal amounts of inflow and outflow between 2:00 and 3:00. There’s a notable decline on a one-day scale in the last hour that offers an opportunity to close the short position or open a partial long position.