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An opportunity to open a short position on the 7th and close it on the 8th.
Another opportunity to open a short position at the upper end of a range on the 8th and close it on the 13th.
Overview
We’ll likely have a lowest low thus far tomorrow (the 7th). If we move to the upside on the 7th there’s likely an opportunity to open a short position to hold into the 8th. It’s possible the highest high is on the 8th or the 9th. On the 10th, there’s a period of volatility and then a sharp drop that stands out within that volatility. There’s another opportunity to open a short position at the upper end of a range on the 8th and close it on the 13th.
On the 13th, there’s an unexpected move higher and a significant decline on a multi-day scale. The 13th is most likely the lowest low thus far. There’s a big move higher out of a trough on the 14th, however I’m advised not to chase that rally. On the 15th, there’s a near overbought peak or crest that we’ll sell off from pretty notably through multiple support levels. On the 16th, we’ll have a pop and drop. On the 17th, there’s a notable peak that we’ll sell off from pretty notably.
On the 20th, there’s a trough early in the day that forms near the intersection of two perpendicular diagonal trend lines. On the 21st, we’ll decline to and through support to meet a second support and then rotate sideways along that support. Either the 21st or the 22nd is where the lowest low most likely is. On the 22nd, there’s a sharp drop within a period of sideways rotation where we’ll revisit a support level that was recently a passed opportunity. On the 24th, we’ll push the upper end of a range higher into a peak or crest toward the end of the day or early in the day on the 27th.
On the 27th, we should sell off pretty notably toward the end of the day. On the 28th, there’s a prominent move higher through resistance that we’ll stay above briefly and then have a full retracement of that move back down. On the 29th, there’s a rally into key resistance midday and then we’ll break back down with consecutively lower spikes up on the way down. We’ll attempt to establish support on the 30th and have a big move to the upside toward the end of the day. We’ll probably have another prominent high either on the 29th or 30th.
Sneak Preview
A higher price level in early December.