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April 5th, 2023 S&P 500 Predictions

Updated: Mar 13, 2023

  • Day’s Theme: A notable decline that will stand out on a one-day chart that offers an opportunity to open a long position.

  • Behavior Around the High: Sideways rotation along key support that increases with bearish momentum as we move forward in time.

  • Behavior Around the Low: A significant move to the upside around the low.

  • Trade Opportunities:

    • An opportunity to exit a bearish position around 1:00 p.m.

    • An opportunity to exit a bullish position around the close.


On April 5th, there’s a prominent trough or low in the pre-market. There’s an unexpected move at the open where we attempt to reestablish support in the first half hour. There’s a move to the upside into an easily missed peak or crest around noon. That’s followed by a drop and a lot of price change roughly between noon and 1:00 p.m. There’s a trade opportunity to exit a bearish position at a low that forms after selling off from a crest or peak and down to and through support around 1:00 p.m. We’ll do a U-shaped reversal below that support and then come back up to reuse it as support.

There’s a rally along a diagonal trend line that breaks through horizontal resistance, meets a secondary resistance, and then pulls back to somewhere between those price levels between 2:00 p.m. and 3:00 p.m.

We’ll have some bullish price swings in the last hour that bring us to another day’s high around the close. There’s an opportunity to exit a bullish position near the close.

Sneak Preview

On April 6th, there’s some volatility and a sharp drop that stands out within that period of volatility.

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