*Accuracy rating update: 16/16 or 100% of predictions correct*
Day’s Theme: Sideways fluctuations with a bullish trend preceding a decline.
Behavior Around the High: N/A
Behavior Around the Low: N/A
Trade Opportunities:
There’s a short window for a trade opportunity to open a long position first thing in the morning.
There’s a short window of opportunity to open up a short position at a peak or crest around 1:45 p.m.
Overview
On December 28th, we’ll open up in the pre-market around the same price level that we closed at the previous day. There are sideways fluctuations with a bearish trend in the pre-market that precede a rally. There’s a short window for a trade opportunity to open a long position first thing in the morning. Right at the open, it looks like we have a significant move higher. There’s also a rally here that offers an opportunity to close out of a long position opened the prior day. That rally moves along a diagonal trend line and then ends with a fast, sudden move higher. This is followed by a breakdown through that diagonal trend line with increasing volatility on the way down somewhere around 11:00 a.m.
We’ll then decline to what appears to be another low. There’s a prominent trough that forms there and a lot of price movement is covered moving out of that low or trough. There’s another rally midday after some sideways rotation along key support and there’s a big move to the upside ending that period of sideways rotation bringing us to a peak or crest around 1:45 p.m. There’s an opportunity to open up a short position around this time. We’ll then sell from near overbought territory and break down through a significant support level on at least a one-day chart. There’s a critical price level on a one-month chart highlighted at the close. We’ll see a big move to the upside reaching for distant resistance toward the end of the day. There will be a retracement of that move higher around the post-market.
Sneak Preview
We’ll open higher on the 29th than we closed today.
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