August 3, 2023 S&P 500 Predictions and Trades

*Accuracy prediction update: 11/12, 92% accurate*

Day’s Theme: A rally into a key resistance on a multi-day scale. From that, we should have consecutively lower spikes up on the way down.

Behavior Around the High: Out of a decline, there’s a move from the bottom of a range to the top of a range into the high, however that high doesn’t hold.

Behavior Around the Low: A period of sideways rotation and within that sideways rotation there’s a sharp drop that will stand out on a one-day scale.

Exclusive Trade Opportunities for Subscribers:
- I’m advised to trade around a notable decline that will stand out on at least a one-day scale.

Overview

On the 3rd, in the pre-market, there’s a move higher where we’ll stay above a resistance level briefly and then break back down through that price level shortly thereafter. There’s a peak or crest around the open that we’ll sell off from pretty notably into a low for the day in the first hour. There’s a trough that takes place midday after some volatility around a low. We’ll come out of that low and create a crest or peak somewhere around 12:30. Off of that peak or crest, there’s a notable decline through multiple support levels.

There’s erratic behavior back and forth through the same price level between roughly 2:00 and 3:00. In the midst of that, we’ll revisit a crest that was recently a past opportunity. There’s a sharp drop around 3:00 into a trough. Out of that trough, there’s a rally that increases with momentum moving forward in time to meet a key resistance level on a one-day scale. From there, we’ll fall from resistance with consecutively lower spikes up on the way down. There’s sideways rotation along key support around the close.