Day’s Theme: A notable move higher in the pre-market and a significant decline through multiple support levels. There’s a speech in the pre-market or early in the morning that I’m advised should not be trusted.
Behavior Around the High: Not specified.
Behavior Around the Low: The low is toward the end of the day.
Trade Opportunities:
An opportunity to open a short position around the open when there’s a rally into a high.
Overview
On April 11th, there’s a notable move higher in the pre-market and a significant decline through multiple support levels around the open. There’s also a speech early in the morning that I’m advised should not be trusted. There’s a rally around the open into a high that offers an opportunity to open a short position. We’ll see another crest just before noon and then we’ll decline pretty notably as we enter the afternoon. There may be a bit of a move to the upside toward the end of the day, however the second half of the day is bearish overall.
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