Day’s Theme: Nullified behavior.
Behavior Around the High: We’ll meet key resistance on a multi-day scale that we failed to break through many times before.
Behavior Around the Low: There’s a cash out opportunity near the low.
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Overview
There’s erratic behavior back and forth through the same price level in the pre-market. There’s an important range on a multi-day scale that’s highlighted around the open. There’s a notable decline followed by bumping along resistance sideways. We’ll then have a move higher in the midst of that sideways bumping between 11:00 and noon. That’s followed by a sideways-fluctuating decline into another low for the day. There’s a big rally out of the low between roughly 1:00 and 2:00 to reach a peak or crest. We’ll then have a sideways fluctuating rally that will then take us into another low. In the last hour and a half there’s a fast, sudden move higher that ends a period of volatility. That’s followed by a notable move back down around 3:00. We’ll end with sideways rotation into the close.
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