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August 8, 2022 S&P 500 Predictions (RATED)

Updated: Sep 27, 2022

*Accuracy review update: 100% or 12/12 predictions correct*



  • Day’s theme: An agreement between two leaders of nations or a merger of some kind that takes place around the day’s high.


  • Behavior around the high: Sideways rotation along support around the high. An agreement or merger of some kind is also highlighted. I’m also advised to open up some protection around the high.


  • Behavior around the low: Bearish price swings and/or a significant dip on a one-day chart.


  • Trade opportunities:

    • An opportunity to open up a short position around the high for a day trade.

    • Around the close, there’s an opportunity to open up a long position in the midst of a decline.



Overview:


On August 8th, we break down through a support level and to a secondary support in the pre-market. At the open, there’s a big move to the upside that will stand out on a one-day chart. We meet an important resistance level with the possibility of a temporary breakout. Between roughly 10:00 a.m. and 11:00 a.m., there’s a first day’s low. There’s then a fast, sudden move higher marking the end of a period of decline. A high for the day will be between roughly 11:00 a.m. and noon, and I’m advised to open up protection at the high.


Between roughly 1:00 p.m. and 2:00 p.m., we’ll see some sideways rotation that’s possibly followed by a fast, sudden move higher. There’s a lot of movement around this time. If you made a bearish trade around the high, there’s likely an opportunity to cash in around this time as well. The edge of a range is highlighted between 2:00 p.m. and 3:00 p.m. We then have a notable decline into the close. There’s an opportunity to open up a long position in the midst of this decline. We may have a bit of a rally out of the close and into the post-market.


Sneak preview:


It appears that there’s a lower low on the 9th.



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