Day’s Theme: A pretty mixed day.
Behavior Around the High: A rally that offers an opportunity to open a short position.
Behavior Around the Low: A fake out or shake out, however this behavior will somehow be nullified.
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An opportunity to open a short position at a peak or crest between 10:00 and noon. I would close that at a trough around 1:45.
An opportunity to open a short position around 2:15. I would hold that until the morning of the 13th.
Overview
On September 12th, we’ll likely open lower in the pre-market at an important trough. There’s a near overbought peak or crest that forms around the open. We’ll sell off that peak pretty notably and then decline through multiple support levels into a trough around 10:00. We'll likely have a rally into a crest or peak around 11:00. There’s a decline that starts around 11:15. We’ll decline into key support by noon. A notable rally will commence around 12:15 and we’ll move into a peak around 12:30. We’ll decline into a trough around 1:45. There’s another peak or crest around 2:25ish. There’s some volatility as we enter into the last hour where we’ll see both a notable move down through multiple support levels and a big move out of oversold territory to the upside. We’ll likely finish to the upside at the end of the day.
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