Month’s Theme: An improbable and significant opportunity. That’s crossed with the establishment of support and sideways rotation followed by a fast, sudden move higher.
Behavior Around the High: We’ll establish support.
Behavior Around the Low: We’ll establish support and then have a prominent move higher. That’s followed by the establishment of support at a higher level.
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An opportunity on the 5th to position oneself in both directions. I would close the long position early on the 7th and close the short position on the 17th or early on the 18th.
An opportunity to open a short position early on the 7th. You could close that on either the 12th or the 14th.
An opportunity to open a long position on the 21st in anticipation of a higher price level in August.
An opportunity to open a long position on the 21st and close it early on the 25th.
An opportunity to open a short position early on the 28th
Overview
On the 1st, we’ll have three pokes through the same price level followed by a sharp drop after the third poke into a prominent trough. The 3rd is a half day. We’ll have the 4th off. On the 5th, there’s a lot of price change and a significant opportunity at a key resistance level on a multi-day chart. At the end of the day on the 5th, we’ll meet an important resistance at a lower level. On the 6th, there’s a rally early in the day and we’ll come up against a resistance level that’s highlighted. There’s an important crest on a one-month scale on the 7th. That’s followed by a sell-off and a U-shaped reversal back up.
On the 10th, we’ll have the most likely location of a highest high. On the 11th, we’ll have a trough early in the morning and we’ll have sideways rotation or some tricky behavior. On the 12th, we’ll have more sideways rotation and a prominent crest. On the 13th, there’s a breakout into a key resistance level. On the 14th, we’ll have a decline that ends with a fast, sudden move higher.
On the 17th, we’ll likely have a lowest low. There’s a trough toward the cusp of the 17th and 18th. On the 18th, there’s a U-shaped dip that forms near the intersection of two perpendicular diagonal trend lines. On the 19th, there’s a rally and another trough after a decline. On the 20th, there’s a crest that we’ll sell off from through multiple support levels. That decline continues on the 21st. That’s followed by a gap up and another decline.
There’s a sharp drop in the midst of erratic behavior back and forth through the same price level on the 24th. There’s an important resistance level highlighted on the 25th. There’s a big move to the upside highlighted on the cusp of the 25th and 26th. We’ll have a decline that increases with momentum moving forward in time on the 26th. There’s an important range highlighted on a multi-day scale on the 27th. At the end of the day, we’ll meet key resistance. We’ll then decline with consecutively lower spikes up on the way down into the 28th.
On the 31st, we’ll have a prominent peak that will stand out followed by a sharp drop.
Sneak Preview
In August, we’ll have a fake out or shake out of some kind.
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