Month’s Theme: A significant move higher overall and the establishment of support at a higher level. Notable reversals throughout the month.
Behavior Around the High: A notable trade opportunity standing out on a one-year chart around the high.
Behavior Around the Low: A notable move into the lowest low where we’ll decline through multiple support levels.
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An opportunity on the 1st to open a long position after a decline. I would close that position either the following day or on the 4th.
An opportunity on the 9th to position oneself in both directions. I would open up the long position toward the end of the day. I would close that long position toward the end of the day on the 11th.
An opportunity to open a long position in the midst of a decline on the 11th. I would close that on the 12th or the 13th.
An opportunity to open a short position in the midst of a move higher on the 13th. I would close that on the 16th in the midst of sideways rotation along key support.
An opportunity to open a long position in the midst of a trough on the 19th. I would close that at the end of the day on the 21st.
An opportunity to open a long position on the 25th in the midst of a trough. I would hold that until the morning of the 29th.
Overview
On the 1st, we’ll decline to and through support to meet a secondary support level. We’ll bounce sideways along that support for a bit and then break down through multiple supports into a trough. On the 2nd, we’ll have both a prominent crest and a prominent trough. On the 3rd, there’s another prominent crest. On the 4th, there’s a sideways-fluctuating decline that precedes a rally. On the 5th, there’s a trough midday and a significant move higher turning resistance into new support. On the 6th, we may have a low. On the 7th, we’ll establish support to the upside at a prominent crest or peak.
On the 8th, there’s a significant move lower that stands out on a one-month chart. A lot of price change on the 9th and a significant move lower toward the end of the day. On the cusp of the 9th and 10th, there’s a rally taking us higher ending a period of sideways rotation. That will take us to a peak or crest midday on the 11th. There’s a notable decline on a multi-day chart off of that peak on the 11th. On the 12th, we’ll rally through a resistance level on a one-month scale. On the 13th, we’ll have a prominent move higher, standing out on a one-month scale, followed by a full retracement and a move back down. There’s a significant high on the 13th or 14th. We’ll sell pretty hard down off of that high. Toward the end of the day on the 14th, there’s another significant move higher.
We’ll have sideways fluidity along a key support level on the 15th. On the 16th, there’s a notable decline that stands out on a multi-day chart. On the 17th, the majority of behavior should be bumping up along resistance and possibly breaking through resistance. We’ll see a significant low. On the 18th, there’s a significant move higher and a notable reversal. That reversal takes us into a decline on the 19th that increases with momentum moving forward in time. That’s followed by a big move to the upside standing out on a one-month chart. On the 20th or 21st, there’s a crest that we’ll sell off from. That crest (likely on the 21st) has a high probability of being the highest high for the month.
On the cusp of the 21st and 22nd, there’s a notable decline. There’s a prominent crest that will stand out on the 22nd after that decline. We’ll sell down from that crest. There’s both a prominent crest and a prominent trough on the 23rd. On the 24th, there’s a breakout on a multi-day chart. On the 25th, we’ll push the upper end of a range higher. On the 26th, there are three pokes through the same price level followed by a sharp drop after the third poke. We may have a highest high on the 26th. On the 27th, there’s an important price level highlighted and volume flattens out around that price level. On the 28th, there’s a rally that will stand out on a multi-day chart. On the 29th, there’s a sideways-fluctuating rally that precedes a decline that takes place off of a peak or crest on the 30th. From that peak, we’ll sell down to and through support and then rotate sideways along that support.
Sneak Preview
In July, there’s a halting of a bullish trend marked by a sharp decline through key support.
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