S&P 500 Forecast for Tuesday January 11th, 2020

Theme:

Trade opportunity to open long positions.

Overview:

There is a trade opportunity in the pre-market that corresponds with the Theme card. The first half hour of trading comes with a big move off of a support level. There’s a courageous rally out of a decline between roughly 10am and 11am, and that rally continues higher in the following hour. We pull back and there is a decline through two support levels, we bounce along, and then we break through more. There is a rally out of that sharp decline between 2pm and 3pm. There is a notable price level that is highlighted, and there is something hidden. There is a U-shaped dip between two intersecting diagonal trend lines and a significant high and turning point in the post-market. Around the high there will be an agreement between two leaders and three pokes through a resistance level before we drop. Around the low there will be a sell off from a peak that forms within overbought territory.

Looking to Tomorrow:

Open short positions or protect/sell long positions.