August 30, 2023 S&P 500 Predictions and Trades

Day’s Theme: Sideways rotation with some tricky behavior in general.

Behavior Around the High: A period of sideways rotation along key support.

Behavior Around the Low: A significant decline after meeting a key resistance level that we failed to break through before.

Exclusive Trade Opportunities for Subscribers:
- I’m advised to trade around a notable decline that will stand out on at least a one-day chart.
- An opportunity to open a short position around 10:30 for a scalp.
- There’s an opportunity to open a short position around the close in the midst of a rally.

Overview

On 30th, we’ll meet a key resistance level around the open that we’ll sell off from with consecutively lower spikes up on the way down. We’ll meet key resistance between 10:00 and 11:00. There’s a peak or crest that we’ll sell off pretty notably from between 11:00 and noon to meet a low. Out of that decline, there’s a big move to the upside pushing the upper end of a range higher. There’s some price swings between 1:00 and 2:00 where we’ll have both a prominent trough and what’s probably another high for the day. We’ll meet resistance in the last hour and a half. We’ll then sell down from there into a day’s low. Any rally around the close will be an opportunity to open a short position.