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April 12th, 2023 S&P 500 Predictions

Updated: Mar 13, 2023



  • Day’s Theme: A period of sideways rotation that’s on the scale of a multi-day chart.


  • Behavior Around the High: Not specified.


  • Behavior Around the Low: Not specified.


  • Trade Opportunities:

    • An opportunity in the morning to open a long position. I’m advised to close that position around 2:00 p.m.



Overview


On April 12th, we’ll have some sideways rotation in the pre-market. There’s a moment around the open that we move higher through resistance, stay above it briefly, and then break back down through the same price level. There’s an opportunity to open a long position here that I’m advised to close somewhere around 2:00 p.m. There’s a low early in the day around the open and then we’ll have a sharp drop within a period of sideways rotation. Midday, there’s a breakout somewhere between noon and 2:00 p.m. We’ll then bump up against resistance and have a period of volatility that starts somewhere between 2:00 p.m. and 3:00 p.m. That period of volatility ends around the close when we have a fast, sudden move higher. There’s a support level that we’ll rotate sideways along right around the close. In the post-market, there’s a decline through multiple support levels.


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