Theme:
Opportunity to buy puts, protect long positions, open short positions.
Overview:
In the pre-market, there is a big move higher to the top of a range. In the first half hour of trading there is an agreement between two leaders, and the impactful decision is highlighted right around the open. We have a flight to safety around roughly 10am to 11am. Congress is highlighted between roughly 11am and 12pm. There is a big sell-off from overbought territory on the RSI. There is a big move to the upside between 12pm to 1pm. We reach an important price level between 1pm and 2pm. We break through that price level and create a peak before breaking back down through that price level between 2pm and 3pm. In the last hour we have a decline or we break down through a diagonal trend line with increasing volatility on the way down. Then we have the improbable happen. In the post-market there is a selling down to a support level. We break down through it then we come back a little bit above it. There is a sharp decline, as many as 10 support levels.
There are multiple failed attempts to break key resistance around the high and then multiple headwinds that push the market down sharply around the low.
Sneak Preview:
Sideways-S pattern between a resistance and support, two declines and an incline.
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