Theme:
There is a reversal with a sharp decline but it is nullified, so there is no correlation with the timeline cards.
Overview:
We gap down in the pre-market and there is a sharp decline right around the open and in the first half hour. We reach a day’s low after a notable breakdown and we move sideways. There is a sudden, fast move higher in a period of volatility that takes place somewhere within the first hour and a half. Then there is a crest that forms between roughly 10am and 11am. That fast move higher within the midst of it happens when bouncing along a support level. There is a move higher along it, but then we revisit a trough between roughly 11am and noon. There is a male rule that is highlighted and then out of a decline there is a notable move from the bottom to the top of a range. There is a notable reversal and we reach the top before 1:30pm. Between 1pm and 2pm there is a move higher through resistance and we stay above it briefly before breaking back down through all the same price level and then we bounce along support between 3pm and 4pm. There is another fast move higher in the midst of rotation to create a day’s high. There is a reversal off of that high as we move into the end of the day and a rally picks up momentum. We successfully turn resistance into new support, the trend ends, and we decline into the post-market.
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