Day’s Theme: A notable rally along a diagonal trend line through horizontal resistance to meet a second resistance and then pull back to somewhere between those two price levels.
Behavior Around the High: Not specified.
Behavior Around the Low: Not specified.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a short position at a high at 1:30.
Overview
On September 28th, we’ll likely open lower. We’ll decline into a low from a near overbought crest or peak in the pre-market. We’ll establish support around the open and have a notable move higher out of the low into a peak or crest. There’s a pop and drop roughly around 11:00. Between 11:00 and noon there’s a big move higher on a one-day chart taking us to a peak or crest midday. We’ll have three pokes through the same price level and an opportunity to open a short position. There’s a sharp drop after the third poke. That drop is followed by a move to the upside reaching for distant resistance between roughly 1:00 and 2:00. We’ll rally into the 2:00/3:00 hour to meet the upper end of a range and reach for distant resistance. We’ll probably decline into the lower end of a range in the last hour. There’s a fast, sudden move higher within a period of volatility marking the end of that period of volatility. We may have a sharp drop into the post-market.
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