Day’s Theme: A significant trough on a multi-day scale.
Behavior Around the High: We’ll rally into a key resistance level on at least a multi-day scale. We’ll then break down with consecutively lower spikes up on the way down.
Behavior Around the Low: A decline to and through support to meet another support. We’ll rotate sideways bouncing along that support for a bit and then break down through multiple supports into the low.
Exclusive Trade Opportunities for Subscribers:
I’m advised to trade around a decline to and through support to meet another support level. We’ll then rotate sideways along that second support.
A rally around the close may offer an opportunity to open a short position.
Overview
On June 20th, we’ll open higher in the pre-market. There’s also a lot of ground covered and an important support level highlighted in the pre-market. There’s a big move to the upside right around the open and a lot of bullish behavior preceding a notable decline off of a peak or crest between 10:00 a.m. and noon. There’s a lot of ground covered and a lot of volatility midday.
There’s a rally into a crest or peak at an important resistance level between 1:00 p.m. and 2:00 p.m. That rally is halted by a sharp decline through key support. That decline continues between roughly 2:00 p.m. and 3:00 p.m. In the last hour, we’ll have a bit of a holding pattern with a pop and drop. There’s a rally around the close that may offer an opportunity to open a short position. There’s a notable reversal in the post-market.
Sneak Preview
On the 21st, there’s a prominent move higher followed by a full retracement of that move back down.
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