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July 11th, 2023 S&P 500 Predictions and Trades

Updated: Jun 8, 2023



  • Day’s Theme: Three crisscrosses through the same price level confirming a bullish trend.


  • Behavior Around the High: The halting of a bullish trend marked by a decline through key support.


  • Behavior Around the Low: A move to the upside out of the low, successfully turning resistance into new support.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around the establishment of support with some sideways rotation followed by a prominent move to the upside.

    • An opportunity to open a long position in the morning. I would close that at a crest either between 11:00 and noon or at the end of the day in the midst of a rally higher.

    • An opportunity to open a short position at the end of the day.



Overview


On July 11th, we’ll open lower. In the pre-market, there’s a crest that forms with a move higher through resistance. We’ll stay above it briefly and then break back down. There’s a sharp drop around the open taking us into some sideways rotation in the first half hour. That rotation ends with a fast, sudden move higher. Between 10:00 and 11:00 we’ll have sideways fluidity with equal amounts of bulls and bears trading. Between 11:00 and noon, we’ll sell down to a support level that we recently met before.


Between noon and 1:00, that move higher ends with a decline. There’s an important reversal on a one-day scale between 2:00 and 3:00. There’s an opportunity to open a long position around 2:45 with a sharp drop in the last hour followed by a prominent move to the upside.




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