Day’s Theme: There’s a significant cash out opportunity early in the day after a decline in the pre-market or right around the open.
Behavior Around the High: A rally along a diagonal trend line that ends with a fast, sudden move higher. That’s followed by a breakdown through that diagonal trend line with increasing volatility on the way down.
Behavior Around the Low: Not specified
Trade Opportunities:
An opportunity to open a short position as protection in the midst of back and forth behavior around the open.
An opportunity to open a long position around 2:00 p.m.
Overview
On April 10th, there’s a decline in the pre-market and back and forth behavior right around the open. In the midst of that back and forth behavior, there’s an opportunity to open a short position or some protection. Before noon, we’ll see three pokes through the same price level followed by a sharp drop. That drop offers an opportunity to open a long position around 2:00 p.m. There’s a peak or crest right around the close that we’ll sell off from pretty notably.
Sneak Preview
On the 11th, we’ll open higher.
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