top of page

July 26th, 2023 S&P 500 Predictions and Trades

Updated: Jun 18, 2023



  • Day’s Theme: Erratic behavior back and forth through the same price level, however that behavior is nullified.


  • Behavior Around the High: A decline off of the high that takes us down to revisit a support level that we recently met once before.


  • Behavior Around the Low: Three crisscrosses through the same price level with the third cross to the upside confirming a bullish trend.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around a sideways-fluctuating rally that precedes a decline.

    • A rally around 2:00 offers an opportunity to open a short position.



Overview


On July 26th, we’ll open lower in the pre-market and there’s a decline through multiple support levels taking us into sideways rotation into the open. There’s a big move to the upside out of the open that turns resistance into new support between 10:00 and 11:00. There’s a notable reversal between 11:00 and noon and a trough. We’ll have multiple failed attempts to break through key resistance between noon and 1:00.


There’s a trade opportunity at key resistance and then a decline through multiple support levels between roughly 1:00 and 2:00. There’s a rally around 2:00 that offers an opportunity to open a short position. That’s followed by a decline in the 2:00 hour that declines into the last hour of trading. Out of that decline, there’s a fast move higher marking the end of that decline. There’s a low around the close and an opportunity to close a short position if one was opened earlier.



Sneak Preview


On the 27th, we’ll likely open lower. If not, we’ll open higher and then fall pretty quickly.








17 views0 comments

Kommentare


bottom of page