Month’s Theme: Significant decline. That’s crossed with mixed behavior.
Behavior Around the High: We’ll come up against resistance and then have a sharp decline off of it.
Behavior Around the Low: Bumping along resistance sideways.
Overview
On the 1st, out of a trough we have a big move higher reaching for distant resistance. On the 2nd, there’s a prominent move higher followed by a full retracement. On the 4th, there’s a rally that ends with a fast, sudden move higher followed by a break down with increasing volatility on the way down. On the 5th, there’s a notable move higher early in the day. On the 6th, we’re pretty flat and have a key resistance highlighted. On the 7th, there’s a period of volatility that ends with a fast, sudden move higher.
On the 8th, there’s an overbought crest or peak. On the 9th, there’s a peak and a sharp decline off of it through multiple support levels into a trough. On the 10th, there’s a prominent peak and a sharp drop that stands out within a period of volatility. On the 11th, there’s a notable move higher out of a trough midday. On the 12th, there’s a resistance level highlighted and a lot of price change. On the 13th, there’s sideways rotation along key support. We’ll rise to meet resistance and then fall back down to continue rotation along support. On the 14th, we’ll have some price swings.
On the 15th, there’s a notable reversal. On the 16th, there’s a decline that increases with momentum moving forward in time. On the 17th, there’s a rally early in the day into a resistance level that we’ll decline from into key support. On the 18th, we’re bound by a range on a multi-day scale. Out of sideways rotation on the 19th there’s a big move to the upside. On the 20th, we’ll meet key resistance and decline from that with consecutively lower spikes up on the way down. On the 21st, there are some important bottoms and a big move higher on the cusp of the 21st/22nd.
On the 22nd, there’s a big move to the downside. On the 23rd, there’s sideways fluidity and we may see more decline. On the 24th, there’s an important technical price level highlighted. On the 25th, there’s a fast, sudden move higher. On the 26th, we’ll establish support and have a big move higher. On the 27th, there’s a pop and drop. On the 28th, there’s an unexpected move higher. On the cusp of the 28th/29th there’s a notable decline and I’m advised to be cautious on the 29th. That decline continues into the 30th and we’ll most likely have our lowest low here at the end of the month.
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