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January 10, 2023 S&P 500 Predictions (RATED)

Updated: Jan 28, 2023

*Accuracy rating update: 100% or 8/8 predictions correct*



  • Day’s Theme: Senate is highlighted but somehow nullified. There may be a holding pattern of some sort.


  • Behavior Around the High: We’ll likely see a pop-and-drop around the high. There’s price action that cancels out the move into the high being relevant.


  • Behavior Around the Low: Selling from a crest down to and through a support level on the scale of a one-day chart. We’ll have a U-shaped reversal below that support level and then move back up to reuse it as support.


  • Trade Opportunities:

    • A rally to the upside around the open that offers an opportunity to open a short position.

    • An opportunity to position oneself in both directions at a resistance level midday.



Overview


On January 10th, we’ll have a move higher through resistance followed by decline back down through that same price level in the pre-market. There’s a rally to the upside out of that decline around the open that offers an opportunity to open up a short position. This will be followed by a sharp drop to a support level that we’ll rotate alongside in the first half hour. We may have another low midday. There’s some volatility and a resistance level that’s highlighted midday. That resistance level is a good price level to position oneself in both directions. We’ll then rally to the upside into an overbought crest or peak. This is followed by a decline off of that overbought crest or peak at some point in the last few hours.



Sneak Preview


An overall bearish day. There will be a sideways S-formation after a decline, a rally, and then another decline.







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