Month’s Theme: A significant move higher that reaches for distant resistance and stands out on a multi-day chart. That’s crossed with an important support level that’s highlighted.
Behavior Around the High: An overbought crest or peak that we’ll sell off from through multiple support levels.
Behavior Around the Low: A failed attempt to break through key resistance on a one-month scale followed by a decline through key support which takes us into the low.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a long position near a lowest low on the 1st or the 2nd. You could close that position on the 7th or early in the morning on the 22nd.
An opportunity to open a short position on the 7th and close it on the cusp of the 8th and the 9th.
An opportunity to open a long position on the 14th and close it on the 22nd.
Overview
Week One (6/1-6/2)
There’s a prominent low or a lowest low either on the 1st or the 2nd. There’s a big move to the upside out of a decline, even in the face of seemingly overwhelming headwinds. On the 2nd, there’s a decline that offers a trade opportunity.
Week Two (6/5-6/9)
On the 5th, there’s a U-shaped dip that forms near the intersection of two perpendicular diagonal trend lines. On the 6th, there’s a period of sideways rotation that ends with a fast, sudden move higher. That rally continues on the 7th that reaches for distant resistance. That resistance will probably be the highest price level thus far. There’s a lot of price change around the 7th and the 8th. On the 8th, there appears to be some movement to the downside into the 9th. There’s a prominent trough and an important reversal on the 9th. There’s a gap down over the weekend.
Week Three (6/12-6/16)
After that gap down over the weekend, there’s an important trough or low for the month on the 12th. There’s a sideways fluctuating rally that precedes a decline out of that trough into the 13th. There’s a decline on the 14th. There’s an important support level and a lot of price change on the 14th. On the 15th, there’s a fast, sudden move higher that stands out on a one-month chart. On the 16th, there’s a peak or crest that we sell off from into a trough. We’ll sell off notably from that trough as well. It’s possible that we’ll come into another lowest low there.
Week Four (6/20-6/23)
The market is closed on the 19th. On the 20th, we’ll open at a day’s low. We’ll establish support on a one-month scale on the 20th. That’s followed by a prominent move to the upside that stands out on a one-month chart. We’ll have the establishment of support at a higher level and a peak or crest toward the cusp of the 20th and the 21st. On the 21st, we’ll have price swings and a gap down followed by a big move to the upside at the end of the day. There’s a significant decline off of a big move to the upside on the 22nd.
Week Five (6/26-6/30)
There’s a big move to the upside on a one-month scale on the 26th. We’ll go back and forth between bumping along resistance and breaking through resistance. On the 27th, there’s a decline that will stand out on a one-month chart. I’m advised not to chase a rally midday on the 27th. There’s a decline back to a support level that we recently visited. There’s a prominent trough on a one-month scale on the 28th. On the 29th, there’s either a holding pattern with a pop and drop or the senate is highlighted. On the 30th, there’s a big move to the upside out of a trough and a peak or crest early in the morning. That’s followed by a decline into the end of the day and rotation along support.
Sneak Preview
In July, an important resistance level is highlighted.
Comments