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December 7, 2022 S&P 500 Predictions (RATED)

Updated: Dec 12, 2022

*Accuracy rating update: 100% or 11/11 predictions correct*



  • Day’s theme: A period of volatility with a sharp dip within that period of volatility that will stand out on at least a one-day chart.


  • Behavior around the high: A big move to the upside out of oversold territory that will stand out on a one-day chart. This will likely be during a period of volatility midday.


  • Behavior around the low: Selling from an overbought peak or crest down to the low.


  • Trade opportunities:

    • In the midst of a rally between 11:00 a.m. and noon there’s an opportunity to open up a short position as protection.



Overview:


On December 7th, there’s some volatility and we hit a resistance level right around the open. This is followed by a drop to and through a support level. We meet a second support level and rotate sideways along that support in the first half hour. Off of that support we rise and attempt to break through key resistance, but instead we turn around and decline through key support. This is followed by quite a bit of volatility and a rally to the upside around 11:00 a.m. or noon. In the midst of that rally there’s an opportunity to open up a short position as protection. We have a decline midday through a key support level that we recently broke down through.


There’s a lot of price movement to the upside around 1:45 p.m. or 2:00 p.m. Between roughly 2:00 p.m. and 3:00 p.m. we’ll have a breakout and a lot of price movement. We’ll move above a resistance level into a peak, stay above it briefly, and then break back down through that same price level in the last hour of trading.






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