2 min read

S&P 500 Daily Forecast for Monday, June 1, 2020

Updated: Aug 8, 2022

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90% Accuracy (9 correct statements out of 10 statements)

I conducted a second reading for today. The first one was a bit unclear to me. This is the reading I will be going by on Monday.

Day's Theme - Indecision. Sideways movement. Wild swings. Gap down at the open. Sideways movement out of the open. Big move up around 10am - 11am est. Something unexpected transpires between 11am - and 12pm est. Between 12pm -and 1pm the market reaches for a key resistance level or creates a new one. Big move up between 12pm and 3pm est. Reversal and sharp decline as we approach the close. Closes down. Something significant on a global scale sends the market south in the post-market.

1-Day High - will form around 3pm est.

1-Day Low - will form between the open - 11am est. AND/OR between 1pm - 2pm AND/OR around the close.

Planned Trades - TBD

1) Between 11am -12pm est. Open another straddle / strangle.

AND/OR

1) Between 11am -12pm open long calls.

2) Around 3pm a resistance level will be met. This is a good time to sell short calls against the long calls purchased earlier today.

3) Around 3pm go short.

*****Alternate

Day's Theme - Wild swings present multiple opportunities. Possibly range bound. A surprise or unexpected stroke of luck. Opens up at support / resistance. Reverses between the open and 12pm. Followed by another reversal between 12pm -2pm est. 2pm - 3pm est. will exhibit at least 1 wild swing. Sell off into the close through several support levels. Decline halts in the post market. Closes down or close to even.

1-Day High - will form at least once between 10am - 3pm est.

1-Day Low - will form between the open and -10:30am est. AND/OR between 3pm east. nd the post-market. There will be a strong bullish move off of the low.

Planned Trades - Trade around 2-3pm est. TBD.