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March 3, 2023 S&P 500 Predictions (RATED)

Updated: May 7, 2023

**Accuracy rating: 88% or 7/8 predictions correct**



Day’s Theme: A male ruler of nations is highlighted.



Behavior Around the High: A sideways-fluctuating decline that precedes a rally.



Behavior Around the Low: We’ll establish support and then there’s a notable move out of the low, however this move is somehow nullified/made irrelevant by chart behavior.



Trade Opportunities:

  • There’s a day trade opportunity to open a long position at a trough around 10:30 a.m.

  • I’m advised to trade around a rally into a resistance level that offers an opportunity to open a short position. That will likely be around 11:25 a.m.



Overview


On March 3rd, there’s a day trade at a trough around 10:30 a.m. We’ll come up against resistance and a high for the day sometime around 11:25 a.m. There’s a trade opportunity when we’re bumping up against that resistance level. Off of that resistance level, there’s a notable decline through multiple support levels. We’ll attempt to reestablish support around 2:00 p.m. or 3:00 p.m. There’s a failed attempt to break through resistance right around the close and then there’s a decline down through key support with some price swings in the post-market.



Sneak Preview


On March 6th, a move to the upside is nullified.




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