Two equal and opposite moves cancel each other out. The theme card is also nullified so it doesn’t have any correlation to the timeline cards.
We have an opportunity right around the open to position oneself on both sides of the market if you are playing with options. There is some kind of breakdown from resistance with some lower spikes that are consecutively lower on the way down as they meet moving averages as resistance. That takes place in the midst of some volatility in the first half hour. There is definitely a trade opportunity in the midst of volatility in that first half hour as well. Between roughly 10am and 11am, we have a U-shaped dip that takes place around some diagonal trend lines that intersect.
We have a big push to the upside between roughly 11am and noon. There is going to be some profit-taking and interesting behavior in the middle part of the day. There will be a big push higher and we will see profit-taking from that move and some volatility between noon and 1pm. There is going to be a deep drop followed by a fast, sudden move higher in the midst of that volatility that takes place midday. We have a high and a low correlator there, so we will likely have a crest that we fall from. We also test resistance first thing in the morning, and roughly around 11:45am, give or take a half hour. Then we have a sudden, fast move higher in the midst of volatility. There is some selling from a crest to a trough. We bounce sideways along support and then a rally starts to form and we gradually pick up momentum as we move towards a high, which we will see towards the end of the day. We rally into the end of the trading day and there is an opportunity to cash in there. Male leaders are highlighted and there is a continued move higher.