S&P 500 Daily Forecast for Friday, May 29, 2020

Updated: Aug 1, 2022

Day's Theme - A relationship, usually between two rulers. An important decision AND/OR important change. Highlight on trade or policy between two powers. A female leader in the premarket news. Gaps down HARD. Opens at a key support / resistance level. Some fluctuation up and down at the open. A response from a male leader responds to the female leader between 9:45am-11:15am est. A significant spike up between 1pm-2:15pm est. Selling into the close. Closes up. More from a male leader in the post-market. Opportunity on Monday 6/1/2020

1-Day High - will form in the premarket AND/OR between 2:30pm-4pm est. The high(s) will be directly related to the news.

1-Day Low - will form around 11:45am-1pm est. A big move to the low AND/OR off of the low.

Planned Trades - TBD.

At the Open

1) Sell OTM June 1st Puts.

2) Close short calls legs.

At around 1:45pm-ish

1) Straddle the market (buy long puts AND long calls.) I will buy a longer term straddle that expires post Mercury Retrograde's Station on 6/17/2020 (preferably with expiration on 7/3/2020.) These will probably be closed after 1:30pm est. on 6/9/2020 AND/OR after 11:39am est. on 6/30/2020.

2) Buy Long term straddle that expires after the Mercury Retrograde Post-Shadow is over (preferably with expiration on 7/31/2020.) These will probably be sold after 3:23pm est. on 6/21/2020.