Day’s Theme: A relatively mixed day.
Behavior Around the High: We’ll sell off pretty notably from the high.
Behavior Around the Low: We may have a lowest low thus far this month.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open 50% of a long position at a low around the open and the other 50% between noon and 1:00 in the midst of some flat/sideways price movement. There’s an opportunity to close that position between 1:00 and 2:00.
A rally in the last hour to close a long position and open a short position.
In the pre-market, we’ll decline pretty notably through the open into a low. I would open a partial long position at that low. That’s followed by an unexpected move higher taking us to a high. We’ll then have three crisscrosses back and forth through the same price level between roughly 10:00 and 11:00 confirming a bullish trend. We’ll then sell off from a near overbought crest or peak through multiple support levels between 11:00 and noon. We’ll have some relatively flat sideways rotation midday or between noon and 1:00 which offers an opportunity to open the rest of a long position. There’s some erratic behavior back and forth through the same price level between 1:00 and 2:00. We’ll revisit a crest that was recently a passed opportunity in the midst of that erratic behavior where you could close the long position. Between 2:00 and 3:00 there’s a notable move to the downside through multiple support levels. That’s followed by a rally in the last hour that offers an opportunity to open a short position and close a long position. We’ll then have a full retracement of that rally back down into a low. That low will be in the post-market or the following day.