Month’s Theme: The halting of a bullish trend marked by a sharp decline crossed with sideways rotation establishing support.
Behavior Around the High: A peak that we sell off from notably on the scale of a multi-day chart.
Behavior Around the Low: Sideways fluidity with equal amounts of inflow and outflow.
Overview
On the 1st, we’ll have a sideways-fluctuating decline that precedes a rally.
The market is closed on the 4th. We’ll likely open higher on the 5th at a peak or crest that we’ll sell off from down to and through support. We’ll then come back up and reuse that price level as support. On the 6th, there’s an important trough, and at the end of the day we’ll rally back to the upside. On the 7th, we’ll have a big move back down by the end of the day.
On the 11th, we’ll have some tricky chart behavior. We’ll decline through a price level in the late morning. On the 12th, we’ll have a rally to the upside that increases with momentum moving forward in time. On the 13th, we’ll open lower and then rally again into a peak or crest at the end of the day. We’ll have the halting of a bullish trend and a gap down the morning of the 14th. On the 15th, there’s a lot of price change. We’ll establish support and then move back up into a prominent crest or peak for the month.
On the 18th, there’s an important resistance level that we’ll decline off of. We’ll continue to decline into a lowest low thus far on the 19th. There’s a notable move to the upside on the 20th. On the 21st, we’ll gap down with a sharp decline first thing in the morning and a resistance level highlighted later. On the 22nd, there’s another lowest low for the month.
There’s a pretty big drop into a trough midday on the 25th. There’s a sideways-fluctuating rally out of that decline toward the end of the day on the 26th. On the 26th/27th, there’s a sharp drop within a period of volatility that stands out. We’ll decline into the 28th but we’ll either have a crest at the end of the day on the 28th or on the 29th.
Sneak Preview
A move to the upside in the face of seemingly overwhelming headwinds in October.
Comentários