August 8, 2023 S&P 500 Predictions and Trades

*Accuracy rating update: 91% or 10/11 predictions correct*

• Day’s Theme: A notable move higher that stands out on a multi-day scale.

• Behavior Around the High: Three crisscrosses back and forth through the same price level falsely confirming a bullish trend.

• Behavior Around the Low: The behavior around the low is somehow made irrelevant.

• Exclusive Trade Opportunities for Subscribers:

  • An opportunity to close a long position and open a short position at a high in the first half hour.

Overview

On the 8th, we’ll have the completion of a trend and a high in the pre-market. There’s probably a bit of decline into the open. Around the open, we’ll rally with momentum increasing moving forward in time that will take us back to a high in the first half hour. There’s a trade opportunity there to close a long position and open a short position. That’s followed by a decline through multiple support levels on a one-day scale. There’s another rally into a peak or crest likely between 11:00 and noon. We’ll then have another decline that stands out on a one-day chart.

There’s mixed behavior midday and then some more decline through multiple support levels between 1:00 and 2:00. That decline continues between 2:00 and 3:00. Near the close, there’s a period of sideways rotation and a fast, sudden move higher marking the end of that sideways rotation. That move higher doesn’t hold and we’ll have a decline through multiple support levels.

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