S&P 500 Daily Forecast for Friday, May 1, 2020


Day's Theme - Business loans approved. Profit taking to reinvest. An important milestone. Usually the crossing of a support/resistance level. New confidence about future plans. May involve business loans, overseas transactions, ventures involving imports and exports.Opportunity at the open. Crosses the same support / resistance 1-3 times between 11am est. and 3pm est. AND/OR sticks close to support / resistance. Choppy last hour of trading. Moves higher in the post-market.

1-Day High - will form between the pre-market and 10am est. AND/OR between 12pm est. and 3pm est.

1-Day Low - will form between 10am est. and 12pm est. AND/OR between 12pm est. and 2pm est.

Planned Trades: Provided my trades for Thursday have gone as planned, I will take the opportunity at the open, I will sell the 307 calls to close the position and exit the trade for a profit. Today's opportunity may also provide a good opportunity to buy long puts because my reading for this coming Monday looks like a down day.




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