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July 13th, 2023 S&P 500 Predictions and Trades

Updated: Jun 9, 2023



  • Day’s Theme: A decline through multiple support levels.


  • Behavior Around the High: There’s an important trade opportunity around the high.


  • Behavior Around the Low: There’s a pop and drop of some kind or congress is highlighted.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around a U-shaped dip that forms near the intersection of two perpendicular diagonal trend lines.



Overview


On July 13th, there’s a sharp drop in the pre-market down to and through support to meet a second support. That decline ends around the open with a fast, sudden move higher into the first half hour. That move higher offers an opportunity to open a short position. At a key resistance level, there’s a sharp drop to the downside. Between 11:00 and noon, we’ll have sideways fluidity along a key support level. There’s a crest around 11:45 followed by a period of volatility with a sharp drop that stands out around 1:15 off of that crest.


Around 2:00, there’s a big move off of that crest pushing the upper end of a range higher. We’ll likely see a crest between 2:00 and 3:00 before we see a trough. Out of that trough in the last hour there’s a big move to the upside, likely toward the end of the hour. We’ll bump up against resistance around the close and have a prominent crest at the close or in the post-market. We’ll drop off of that to form another low in the post-market.





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