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S&P 500 Daily Forecast for Thursday, May 28, 2020

Updated: Aug 1, 2022

Accuracy: 100%. (10 correct statements out of 10.) BANG BANG.

Day's Theme - Pivotal moment. Unicursal in a daily chart reading usually proceeds a significant decline. Range bound in the premarket. Opens up AND opens near the day's low. Early morning rally ends at a key resistance level is met around 10:45am - 11:15am est. The day's trend reverses off of news involving an authority of some kind. Exceptional trading opportunity between 12pm -2pm est. Near the close selling into a bounce leads to a decline back down to key support. Closes roughly even.

1-Day High - will form between 11:45am-2pm est. Significant selling off of the high will take place due to an authority figure in the news.

1-Day Low - will form between the open - 10:30am est. AND/OR between 2pm - the post-market. Be prudent tomorrow presents a lower low and a significant opportunity.

Planned Trades -

1) Around 10am I purchased additional calls.

1)At 1pm-2pm est. straddle the market (buy long puts AND long calls.) I will buy a longer term straddle that expires post Mercury Retrograde's Station on 6/17/2020 (preferably with expiration on 7/3/2020.) These will probably be closed after 1:30pm est. on 6/9/2020 AND/OR after 11:39am est. on 6/30/2020.

3)Buy Long term straddle that expires after the Mercury Retrograde Post-Shadow is over (preferably with expiration on 7/31/2020.) These will probably be sold after 3:23pm est. on 6/21/2020.

***ACTUAL TRADES THAT WERE EXECUTED:

1) At 10am-ish I purchased additional calls.

2) At 1pm-ish I ended up doubling down on my puts (very risky) with the intent of selling tomorrow. I did not buy additional calls as planned. Instead, I sold against them for protection with the intent of buying back tomorrow.