Month’s Theme: A notable move higher where we’ll successfully turn resistance into new support. We’ll also see an important resistance level that presents an opportunity to play both sides of the market.
Behavior Around the High: Sideways rotation along key support. We’ll then rise to meet the nearest resistance and then come back down to continue rotating sideways along support.
Behavior Around the Low: A period of sideways rotation along a key support level that ends with a fast, sudden move higher.
Overview
Week One (3/1-3/4)
Between March 1st and 3rd there’s a prominent high. There’s a key technical price level highlighted on the 1st and the 2nd. On the 1st, there’s a decline along a diagonal trend line that increases with volatility as we move forward. On the 2nd, there’s a technical price level that’s highlighted. On the 3rd, there’s a notable move to the upside and a strong likelihood of a prominent high. There should be a sharp drop on the 3rd or the 4th. We’ll open lower on the 4th and then have a breakout.
Week Two (3/5-3/11)
On the 5th, there’s a prominent move higher followed by a full retracement of that move. On the 6th, we may see another high for the month at the end of the day. Congress may be highlighted and there’s an important crest on the 6th. On the 7th, we’ll rally along a diagonal trend line and break through horizontal resistance to meet a secondary resistance level. We’ll then pull back to somewhere between those two price levels. There’s also a prominent trough on the 7th. On the 8th, there’s a prominent crest. There’s another prominent trough on the 9th. There’s a lowest low and another important trough for the month on the 10th. There’s a rally and a crest as well as a sharp drop on the 11th.
Week Three (3/12-3/18)
That sharp drop is either overnight on the 11th or early in the morning on the 12th. There’s a big move from the bottom of a range to the top of a range early on the 12th. On the 13th, there’s a notable move higher and we push the upper end of a range higher. On the 14th, there’s erratic behavior back and forth through the same price level around a crest that was recently a past opportunity. On the 15th, the bottom of a multi-day range at a trough is highlighted. On the 16th, we’ll decline from support down to a secondary support level and then rotate sideways along that support for a bit. We’ll then break down through multiple support levels. There’s a prominent trough early in the day on the 17th. That’s followed by a notable move higher turning resistance into new support. On the 18th, we’ll decline through a support level that we recently declined through once before.
Week Four (3/19-3/25)
On the 19th, there’s a sideways fluctuating rally that takes us into a key resistance level. There’s most likely a highest high for the month of the 20th. On the 21st, there’s a prominent trough and a key technical price level that’s highlighted. On the 22nd, there’s a revisiting of a support level where we’ll rotate along that support. On the 23rd, a lot of price movement takes place, and we’ll see a sharp drop at the end of the day or overnight, taking us into a prominent trough on the 24th and the 25th. I’m advised to be cautious on the 25th due to multiple false bottoms.
Week Five (3/26-3/31)
Early on the 26th, we’ll successfully turn resistance into new support (at least momentarily). We’ll then decline through multiple support levels on the 26th. On the 27th, there’s a prominent crest. That crest will form when we move higher through key resistance and then break back down through the same price level toward the end of the day. On the 28th, there’s a notable decline. On the 29th, there’s a decline through multiple support levels and a cessation of that trend early in the day on the 30th. There’s a sideways-fluctuating decline that reverses into a move higher and turns resistance into support. On the 31st, there’s a failed attempt to break through key resistance followed by a decline through key support.
Sneak Preview
In April, there’s a decline from an overbought crest or peak to be mindful of.
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