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August 9, 2023 S&P 500 Predictions and Trades

Updated: Oct 29, 2023

*Accuracy rating update: 100% or 7/7 predictions correct*



  • Day’s Theme: A decline through multiple support levels.


  • Behavior Around the High: A sharp decline off of the highest high through multiple support levels.


  • Behavior Around the Low: Sideways rotation that’s somehow irrelevant.


  • Exclusive Trade Opportunities for Subscribers:

    • There’s an opportunity to open a short position in the midst of a rally around the close.



Overview


On the 9th, we’ll open higher in the pre-market and then have some price swings with bearish behavior into the open. The volume is pretty mixed. I think we’ll see a highest high around 11 and there's a really significant drop here and a move to the upside with bullish behavior toward the end of the day. There’s a lot of price movement. We’ll have a couple failed attempts to break through key resistance and then we break out at the end of the day. There’s an opportunity to open a short position in the midst of a rally around the close.



Sneak Preview


We’ll open higher on the 10th but we’ll likely decline.





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