Day’s Theme: A lot of price change and erratic behavior back and forth through the same price level.
Behavior Around the High: Not specified.
Behavior Around the Low: Not specified.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a short position at a peak between 1:00 and 2:00.
We’ll likely have a low first thing in the morning. We’ll rally out of it and then decline around the open. That decline ends in the first hour and a half and then we’ll have a fast, sudden move higher where we’ll attempt to establish support between 10:00 and 11:00. That turns into sideways fluidity with a slant to the upside between 11:00 and noon. Midday, we’ll establish support with some sideways rotation and then have a prominent move higher with sideways rotation at a higher price level.
There’s a significant trade opportunity at a peak between 1:00 and 2:00. We’ll then have a sharp decline around 2:00. There’s a period of volatility between 2:00 and 3:00 that ends with a fast, sudden move higher and then more sideways rotation in the last hour. There’s an important trough right around the close. In the post-market, we’ll move from the bottom of a range to the top of a range.
We’ll likely open higher the following day.