S&P 500 Daily Forecast for Friday, May 8, 2020

Updated: Jul 25, 2022

*******$1,514.85 One Day Profit

*******80% Accuracy. (8 out of 10 statements were correct.)

Day's Theme - Based on further analysis of next week the end of today will likely mark a prime opportunity to set up for next week's correction. Research projects a sharp stock market decline on Monday 5/11/2020 and Tuesday 5/12/2020. Assistance is available. A debt repaid. Be alert for synchronicities. A push in direction. Financials improve through the intervention of a 3rd party. Initial gap will open at top or bottom of range. Selling off the open. Big move from 10am est. to 11am est. Reaches a support/resistance level between 11am est. and 12pm est. Big move up AND/OR down around 12pm est. to 1pm est. Decline from 1pm est. to 2pm est. reaches significant support/resistance level. Decline in the post market.

1-Day High - will form between the pre-market and 11am est. AND/OR between 3pm est. and the post-market.

1-Day Low - will form between 1pm est. and the post-market.

Planned Trades: . Around the close I will sell short May 13-20 297 Calls against May 18-20 296 Calls to create a diagonal spread. I am continuing to hold holding Long May 11-20 285 Puts, Long May 18-20 270 Puts, & Long May 18-20 287 Puts over the weekend. Based on further analysis of next week I will likely choose to sell the puts on Monday morning and the remaining Puts on Tuesday Morning.