Month’s Theme: Likely a pretty big move to the upside.
Behavior Around the High: A rally along a diagonal trend line breaking through horizontal resistance to meet a secondary resistance before moving back down to somewhere between those two price levels.
Behavior Around the Low: A decline through multiple support levels.
Overview
On the 1st, we’ll have a decline that increases with momentum and an important resistance level on a multi-day scale is highlighted. On the 2nd, there’s a U-shaped dip that forms at the intersection of two perpendicular diagonal trend lines. On the 3rd, there’s a prominent move higher followed by a full retracement. On the 4th, we’ll likely go from a peak to a trough pretty quickly early in the day. There’s also a sharp drop within a period of volatility followed by a move to the upside on the 4th. On the 5th, there’s a big move out of a decline. On the 6th, there’s a prominent trough or possibly a lowest low. On the 7th, there’s a notable drop at some point. There’s a lot of price change between the 7th and the 8th.
On the 8th, there’s a rally that offers an opportunity to open a short position. There’s a big move higher early in the day and likely a move lower later in the day. On the 9th, there’s a big move out of oversold territory that stands out on a multi-day scale. There’s a peak or crest at the end of the day on the 10th. That’s followed by a decline on the 11th that ends with a fast, sudden move higher. There’s a prominent peak or crest on the 12th in the midst of a breakout that doesn’t hold. On the 13th, we’ll decline into a support level that we met once before. On the 14th, there’s a prominent trough that will stand out on a multi-day chart. There’s a pretty big move to the upside into a crest or peak on the cusp of the 14th/15th.
We may see a month’s high on the 15th. We’ll rotate sideways out of the 15th into the 16th. That sideways rotation will end on the 16th with a fast, sudden move higher. On the 17th, we’ll have more sideways rotation along key support. We’ll rise to meet key resistance and then fall back down to continue rotating along key support. On the 18th, we’ll have three pokes through the same price level followed by a sharp drop after the third poke. We’ll have the most probable location of a month’s high around the cusp of the 19th/20th. On the 20th, we’ll have erratic behavior back and forth as well as a fake out of some kind. We’ll likely have a notable decline on the 20th. On the 21st, we’ll have a move from the bottom of a range to the top of a range that continues into the 22nd.
On the 22nd, we’ll break through key resistance, stay above it briefly, and then break down through that same price level shortly thereafter. On the 23rd, there’s an important range that’s highlighted. We’ll decline pretty notably on the 24th and we may see another lowest low on the 24th/25th. There’s a trough that stands out on the 25th. There’s another peak or crest on the 26th while bumping along resistance. Key resistance is probably met at the end of the day on the 26th. On the cusp of the 26th/27th, we’ll break down with consecutively lower spikes up on the way down. On the 27th, there’s a relatively notable peak midday and a significant crest at the end of the day. We may have a lowest low or an important trough on the 28th.
There’s a fast, sudden move higher on the 29th. There’s a failed attempt to break through key resistance followed by a decline on a multi-day scale on the 30th.
Sneak Preview
In October, we’ll see a fast, sudden move higher ending a period of volatility.
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