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March 22nd, 2023 S&P 500 Predictions

Updated: Feb 20, 2023

  • Day’s Theme: There may be multiple false tops or bottoms or some sort of tricky behavior.

  • Behavior Around the High: A strong resistance level that we come up against, however we’ll struggle to break through it.

  • Behavior Around the Low: Out of the low, there will be a breakout on at least a one-day scale.

  • Trade Opportunities:

    • I’m advised to trade around a solid foundation of support. There may be a male ruler highlighted around this time as well.

    • An opportunity to open a short position before a decline around 1:30 p.m.


On March 22nd, it looks like we’ll open higher and have some sideways rotation in the pre-market. There’s some tricky behavior around the pre-market and at the open. There’s a decline around the open and we’ll break down through a support level that we recently broke down through. We’ll break down through multiple support levels. That decline continues through at least 11:00 a.m. That’s followed by a move to the upside into a peak or crest at near overbought territory midday.

There’s a move to the upside around 1:30 p.m. on at least a one-day chart. There’s a trade opportunity to open a short position before a decline. We’ll then move back down with a full retracement of that move to the upside. There’s a significant decline at the end of the day. Around this time, there’s a trade opportunity to position oneself in both directions. There’s a brief peak around the close that’s easily missed. We’ll sell from an overbought crest or peak at the end of the day and into the post-market.

Sneak Preview

On March 23rd, there’s likely a rally in the pre-market that ends with a fast, sudden move higher. We’ll then see a break back down through a diagonal trend line that we were rallying along. Out of oversold territory, there’s a big move to the upside around the open.

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