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August 14, 2023 S&P 500 Predictions and Trades

Updated: Oct 29, 2023

*Accuracy rating update: 100% or 8/8 predictions correct*



  • Day’s Theme: An opportunity in the midst of a decline to open a long position.


  • Behavior Around the High: Sideways behavior bumping along resistance.


  • Behavior Around the Low: Sideways rotation along key support.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around the halting of a bullish trend marked by a decline through key support.

    • An opportunity to open a long position after a decline before noon or between 1:00 and 2:00.



Overview


On the 14th, we’ll either open lower or open higher and sell down in the pre-market. There’s volatility as we move forward into the open and fast, sudden move higher before a decline in the first half hour that takes us to a low. There’s a lot of volatility and price change to the upside between 10:00 and 11:00. There’s a peak or crest followed by a sharp drop. That drop takes us to a trough around 11:00 or 11:30. Out of that trough, there’s a fast, sudden move higher that takes us to an overbought crest between noon and 1:00. Off of that crest, we’ll break down and decline pretty notably into a low around 1:00. That offers an opportunity to open a long position. We’ll then have a big move to the upside taking us into a prominent crest for the day in the last hour. There’s a key technical price level around the close where you could position yourself in both directions.






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