Day’s Theme: Establishment of support followed by a big move standing out on at least a one-day chart.
Behavior Around the High: Price swings around the high, however it’s somehow nullified.
Behavior Around the Low: Not specified.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a long position in the morning and close it between 1:00 and 2:00 after a move higher.
On the 2nd, there’s some sideways rotation in the pre-market and a notable move to the upside at the open. We’ll then come into a trough and there’s a fast, sudden move out of it between 11:00 and noon. That’s followed by a decline through support. We’ll then have a big move to the upside standing out on a one-day chart. That move higher carries into the 1:00 to 2:00 hour. That’s when you’d want to exit a long position if you opened one. We’ll decline and have a rally along a diagonal trend line into the close. That rally will end with a fast, sudden move higher followed by a decline with increasing volatility and momentum as we move into the post-market.