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April 4th, 2023 S&P 500 Predictions

Updated: Mar 13, 2023



  • Day’s Theme: A significant and unexpected move to the upside, likely out of a notable trough.


  • Behavior Around the High: We’ll successfully turn resistance into new support moving into the high.


  • Behavior Around the Low: Bullish behavior around the low.


  • Trade Opportunities:

    • N/A



Overview


On April 4th, I’m advised to be cautious in the pre-market and around the open. There’s a fake out early in the day and bearish behavior in the first half hour to the downside. There’s a trade opportunity at the open in the midst of a holding pattern with a pop and drop. There’s a breakout to the upside in the first half hour out of a low in the first half hour. That bullish behavior will continue until around noon when we’ll see a decline to and through support. We’ll bounce along that support and then decline through multiple support levels. That’s followed by more bullish behavior and a day’s high sometime between noon and 2:00 p.m.


It’s possible that we have the same high or another high at the end of the day near the close. Between 2:00 p.m. and 3:00 p.m. there’s a move to the upside and then three pokes through the same price level in the last hour. There’s a sharp decline after the third poke. There’s likely a move to the upside in the post-market.



Sneak Preview


On April 5th, we’ll see a sharp drop in the midst of a period of volatility.



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