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July 19th, 2023 S&P 500 Predictions and Trades

Updated: Jun 15, 2023



  • Day’s Theme: A fast, sudden move higher that will stand out, however the majority of the day will be declining.


  • Behavior Around the High: A rally that offers an opportunity to open a short position, however it’s nullified.


  • Behavior Around the Low: A big move out of the low that is also nullified.


  • Exclusive Trade Opportunities for Subscribers:

    • An opportunity to open a short position between 2:00 and 3:00 after a move to the upside out of a decline.



Overview


On July 19th, there’s a lot of price change in the pre-market and a resistance level highlighted.There’s a sharp decline into the open where we’ll then have a fast, sudden move higher marking the end of that decline. That move higher continues into the first half hour. Around 10:00, we’ll successfully turn resistance into support and then rotate along support. There’s a brief peak that’s easily missed between 11:00 and noon. That’s followed by a decline through multiple support levels.


We’ll have a failed attempt to break through key resistance followed by a decline through key support between noon and 1:00. There’s an important support highlighted and a big move to the upside out of a decline somewhere between 2:00 and 3:00. There’s a trade opportunity to open a short position after that move to the upside.








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