Month’s Theme: Either sideways behavior or a sound support foundation highlighted. That’s crossed with a period of sideways rotation with a fast, sudden move higher.
Behavior Around the High: Sideways rotation around the high.
Behavior Around the Low: A rally out of the low that offers an opportunity to open a short position or open a long position.
Overview
The 1st is unclear. On the 2nd, there’s a move higher through resistance that we’ll stay above briefly and then break back down into a trough shortly thereafter. The highest high for the month is likely somewhere between the 2nd and the 4th but is likely on the 3rd. On the 3rd, we’ll have some sideways rotation along key support with a big move to the upside followed by more sideways rotation at a higher support level. We’ll have more sideways rotation on the 4th along a key support level.
On the 7th, we’ll likely open lower, and there’s either a merger of some kind or there’s a pop and drop with a move higher and a retracement back down. On the 8th, we’ll have a failed attempt to break through key resistance and then turn around and decline through key support into a trough. On the 9th, out of a trough there’s a sideways-fluctuating rally that precedes a decline. That rally continues into the 10th into a crest or peak at the end of the day where we’ll see a decline. There’s a gap up over the weekend into the 14th.
We’ll open higher at a key resistance level on the 14th. We’ll have a lot of price change to the downside after a brief peak that’s easily missed. On the 15th, there’s a key resistance level highlighted. On the 16th, there’s a crest midday or early afternoon. There’s a range highlighted at the end of the day on the 17th. There’s a speaker on the cusp of the 17th/18th. We’ll decline into the 18th and that decline will end with a fast, sudden move higher. That move higher either takes place at the end of the day on the 18th or on the 21st.
On the 21st, we’ll see a lowest low with a trough at the end of the day. We’ll reach distant resistance on the 22nd and then decline from that resistance down to support. I’m advised to be cautious on the 23rd. There’s an important trough and multiple false tops. There’s a big move to the upside into a peak or crest at the end of the day. On the 24th, there’s a failed attempt to break through key resistance followed by a decline through key support. On the 25th, there’s a rally out of a trough that increases with momentum moving forward in time.
Sideways rotation ends on the 28th with a breakout on a multi-day scale. On the 29th, there’s a significant move to the upside out of the low. There’s some sideways rotation along a key support level that ends with a fast, sudden move higher. On the 30th, there’s a breakout and a fast, sudden move to the upside. On the 31st, we’ll have a decline to and through support to a second support.