Month’s Theme: Significantly bullish behavior with the establishment of support at a higher price level.
Behavior Around the High: We’ll establish support at a higher price level that can be relied upon.
Behavior Around the Low: There’s a decline through multiple support levels into the low.
Exclusive Trade Opportunities for Subscribers:
An opportunity to position oneself in both directions on the 6th.
An opportunity to open a long position on the 15th. You could close that at a peak or crest on the 20th.
Overview
On the 1st, there’s a notable move out of a decline.
On the 4th, the market’s closed. On the 5th, we’ll have a trough at the beginning of the day and a notable move to the upside. On the 6th, we’ll have an important trade opportunity and an important resistance level highlighted. We’ll move to the upside which presents an opportunity to open a short position for a day trade. We’ll end the day with a decline through a key support level and you could close the short position after that decline. On the 7th, there’s a big move higher into a peak or crest in the morning. We’ll likely have a highest high thus far midday and then decline back down. On the 8th, there’s a big move higher reaching for distant resistance. We’ll then decline with consecutively lower spikes up on the way down and move into a trough.
On the 11th, we’ll decline to and through support to meet a second support and then rotate sideways along that support level. There’s a prominent trough on the 11th. On the 12th, we’ll have a prominent crest in the midst of price swings. We’ll then decline into a prominent trough or a lowest low on the 13th. On the 14th, there’s a decline that offers an opportunity to open a long position. The 14th is a highest probable location of a lowest low. On the 15th, there’s a big move to the upside at the end of the day or over the weekend.
On the 18th, there’s a big move to the upside reaching for distant resistance. There’s a period of sideways rotation that ends with a fast, sudden move higher. On the 19th, we’ll meet a key resistance level that we’ve met many times before. On the 20th, there’s a peak or crest that we’ll sell off from pretty notably. On the 21st, we’ll have a reversal standing out on a multi-day scale. We may gap up and then sell off again. If we finish the day lower, we’ll gap up on the 22nd. If we finish higher, we’ll gap down the morning of the 22nd. On the 22nd, there’s like a crest early in the day and the completion of a bullish trend with a decline through multiple support levels. There may be a peak at the end of the day with a decline through multiple support levels over the weekend.
On the 25th, we’ll have a big move higher and a rally into a peak or crest at the end of the day. That rally offers an opportunity to open a short position. The 25th/26th is the highest probable location of a highest high. On the 26th, we’ll have an overbought crest or peak that we’ll sell off from pretty notably through multiple support levels. On the 27th, we’ll have a failed attempt to break through key resistance and a decline through key support. On the 28th, out of a trough at the end of the day we’ll have a notable move to the upside. We’ll stay above key resistance briefly and then break back down shortly thereafter. On the 28th, we’ll move higher and then have a full retracement of that move back down. On the 29th, there’s a big move from the bottom of a range to the top of a range out of a decline.
Sneak Preview
A key resistance level that we’ll poke through three times followed by a sharp decline after the third poke in October.
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