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February 1, 2023 S&P 500 Predictions (RATED)

Updated: Mar 25, 2023

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

  • Day’s theme: A prominent move to the upside followed by a full retracement of that move back down.

  • Behavior around the high: We’ll first establish key support on a one-day chart and then we’ll have a significant move to the upside into the high. This behavior is nullified, however, and will somehow be made irrelevant based on other chart behavior.

  • Behavior around the low: An unexpected move to the upside around the low. I’m advised to trade around a move higher through resistance where a crest or peak forms. We’ll move back down through that resistance level shortly thereafter.

  • Trade opportunities:

    • An opportunity to open up protection after a move to the upside midday.


In the pre-market on February 1st, there’s a period of volatility that ends with a fast, sudden move higher out of a low around the open. We’ll come to a key technical price level or resistance level around the open. That move higher will take us to a crest. We’ll then sell down to and through a support level on a one-day chart, do a U-shaped reversal, and then come back up to reuse that support level as support. We’ll then do another U-shaped dip that forms near the intersection of two perpendicular diagonal trend lines. When we come back out of the second U-shaped dip, we’ll create another peak or crest somewhere around 11:15 or 11:25 a.m. We’ll then sell off from near overbought territory on a one-day chart.

After a notable move to the downside, there’s a reversal to the upside midday and an opportunity to open up some protection. It looks like we’ll have a diagonal rally throughout the remainder of the day and a new higher support level that stands out on a one-day chart. That support level will somehow be important, however it doesn’t hold. In the post-market or overnight, there’s a decline that increases with momentum moving forward in time.

Sneak Preview

We’ll open higher on February 2nd. We’ll have sideways rotation in the pre-market that ends with a fast, sudden move higher.

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