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August 30, 2022 S&P 500 Predictions (RATED)

Updated: Oct 3, 2022

*Accuracy rating update: 100% or 10/10 predictions correct*



  • Day’s theme: A prominent move to the upside from the bottom of a range to the top of a range.


  • Behavior around the high: Three pokes through the same price level at the high toward the end of the day.


  • Behavior around the low: N/A


  • Trade opportunities:

    • An opportunity in the midst of a big move to the upside around midday.


Overview:


On August 30th, there will be a drop either overnight or first thing in the pre-market. Somewhere between 10:00 a.m. and noon, we move higher through a resistance level, stay there briefly, and then break back down through that same price level. We then break down to and through a support level and then move back up to reuse that support level. I’m advised to be cautious around midday, however there may be temptation to not be cautious.


After that midday caution point, we have a move that stands out on a one-day chart, and a trade opportunity in the midst of that move to the upside. This is then followed by a notable decline. In the last hour of the day, we move up and out of that decline in the midst of some seemingly overwhelming headwinds. We then rotate sideways along a price level right around the close. There’s a day’s low in the post-market. There’s also some volatility that increases as we move forward in time in the post-market.


Sneak preview:


There’s a rally that ends with a fast, sudden move higher, followed by a breakdown through a diagonal trend line with increasing volatility on the way down on the 31st.




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