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February 15, 2023 S&P 500 Predictions

Updated: Jan 16, 2023

  • Day’s Theme: A period of volatility that ends with a fast, sudden move higher.

  • Behavior Around the High: A move higher will take us to a key technical price level on a multi-day chart.

  • Behavior Around the Low: There’s a notable move into the low that will stand out on a one-day chart. Out of the low, there’s some bumping along resistance and breaking through resistance.

  • Trade Opportunities: N/A


On February 15th, we’ll likely open in the pre-market around the same price level. We’ll then decline into the open. Out of the open, there’s a notable move to the upside from the bottom of a range to the top of a range. There’s an unexpected move into a crest at some point between 10:00 a.m. and 11:30 a.m. We’ll sell from that crest through key support after multiple failed attempts to break through key resistance. That decline takes us to a low sometime between 1:00 p.m. and the close. There’s a rally out of that low along a diagonal trend line where we break through horizontal resistance to meet a secondary resistance level and then pull back to somewhere between those two price levels.

We’ll have a decline followed by a notable move to the upside. I’m advised to be cautious around the close; we’ll expect to break through resistance and instead we’ll turn around and decline through a falsely established support level. In the post-market, we’ll decline from support down to a second support level and then rotate sideways along that price level.

Sneak Preview

On February 16th, there’s a notable trade opportunity. We’ll likely open higher with sideways rotation in the pre-market, however there’s a sharp dip within that sideways rotation. We’ll revisit a support level in the midst of that behavior.

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