Month’s Theme: A rally into an important resistance on at least a one-month scale. We’ll then decline from that resistance with consecutively lower spikes up on the way down.
Behavior Around the High: An important resistance level that volume and volatility will flatten out around.
Behavior Around the Low: A rally out of the low along a diagonal trend line. We’ll break through horizontal resistance to meet a secondary resistance level and then pull back to somewhere between those two price levels.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a short position after a move through resistance on the 4th. You could close that on the 5th after a decline.
An opportunity to open a long position toward the end of the day on the 9th. You could close that after a move to the upside on the 10th.
Opportunities to close a short position on the 19th/20th or on the 27th/28th.
An opportunity to open a long position on the 28th or 30th to hold until late December.
Sneak Preview:
There’s a high somewhere around the 6th/7th or the 8th/9th. The first low should be around the 15th.
On the 1st, there’s a move higher that will stand out on a multi-day scale but we’ll have a full retracement back down. On the 2nd, we’ll meet a resistance level that we’ve met many times before and failed to break through. We’ll have sideways rotation from the 2nd into the 3rd and a move higher by midday on the 3rd. There’s a peak or crest from the 3rd into the 4th. On the 4th, we’ll move through resistance, stay above it briefly, and then break back down shortly thereafter. That move through resistance offers an opportunity to open a short position. You could hold that overnight and into a notable decline on the 5th toward the end of the day. We’ll decline through support to meet a second support level and bounce along it for a bit and then break down through multiple support levels. There’s a trough at the end of the day on the 6th. There’s a rally into a highest high early in the day on the 7th. That rally offers another opportunity to open a short position. We’ll then break down from that high.
There’s a sharp drop in the midst of some sideways rotation on the 8th to revisit a price level that was recently a passed opportunity. There’s a peak on the morning of the 9th that we’ll break down from pretty notably to revisit a trough. There’s a notable move higher relatively early in the day on the 10th. On the 11th, there’s a rally along a diagonal trend line that ends with a fast, sudden move higher and a break back down through that diagonal trend line with increasing volatility on the way down into the 12th. That’s followed by a fast, sudden move higher on the 12th. On the 13th there’s some sideways rotation. On the 14th, there’s a notable move to the upside to create a peak or crest likely early in the day.
On the 15th, we’ll move lower into an important support level on a multi-day scale. On the 16th, there’s a sharp drop that stands out within a period of volatility. On the 17th, there’s an important range on a multi-day scale highlighted. We’ll decline toward the end of the day. There’s a move to the upside on the 18th where we’ll revisit a crest on the cusp of the 18th/19th. We’ll decline off of a prominent crest into the 20th. There’s a big move out of a trough on the 21st from the bottom of a range to the top of a range.
On the 22nd, there’s likely a peak. There’s a notable drop and an attempt to establish support on the 23rd. That’s followed by a fast, sudden move higher on the 24th, likely toward the end of the day. I’m advised to be cautious on the 25th due to multiple false tops or bottoms or some tricky chart behavior. On the 26th, we’ll bump sideways along resistance. On the 27th, there’s a significant drop. On the 28th, there’s a notable move to the upside into a peak or crest toward the end of the day. We’ll then briefly sell off from that peak or crest. On the 29th, there’s a move to reach for distant resistance. On the 30th, there’s a prominent selling off into a trough.
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