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July 27th, 2023 S&P 500 Predictions and Trades

Updated: Jun 18, 2023



  • Day’s Theme: A sideways movement day with a high and low in close proximity.


  • Behavior Around the High: A big move to the upside to reach for the high.


  • Behavior Around the Low: A period of sideways rotation that ends with a fast, sudden move higher.


  • Exclusive Trade Opportunities for Subscribers:

    • An opportunity to open a short position at a crest around 11:00.



Overview


On July 27th, we’ll open higher in the pre-market and there’s a rally that offers an opportunity to open a short position. There’s a low around the open or in the first hour and a half. We’ll have three pokes through the same price level followed by a sharp drop after the third poke between 10:00 and 11:00. There’s a trade opportunity to open a short position at a crest around 11:00. There’s a period of volatility between 11:00 and noon that ends with a fast, sudden move higher. That move higher turns into a failed attempt to break through key resistance between noon and 1:00. We’ll then decline through key support on a one-day scale.


We’ll meet support and rotate sideways along it between 1:00 and 2:00. We’ll then rise to meet the nearest resistance and then fall back down to continue rotating sideways. There’s a peak that’s easily missed between 2:00 and 3:00 followed by a decline through multiple support levels. We’ll have sideways fluidity along key support in the last hour and a notable move to the upside as we move toward the close. We’ll then have a failed attempt to break through key resistance followed by a decline through key support. There may be a high toward the end of the day.



Sneak Preview


On the 28th, we may open higher but it’s a bit murky.






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