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S&P 500 Daily Forecast for Monday, May 11, 2020

Updated: Jul 25, 2022

Day's Theme - Mis-direction. Open's at the top OR bottom or significant range. Breaks through multiple support / resistance levels before reversing and finishing close to where it opened. Opportunity in the decline OR rally around 12pm est. to 1pm est.

1-Day High - will form between pre-market and 10am est. AND/OR a possible rally starting around mid day could lead to another high between 2pm est. and the post-market.

1-Day Low - will form between 12:30pm est. and 3:30pm est. Negative news will be involved in today's low. Volatility AND/OR multiple lower lows at the low.

Planned Trades - As of Friday's close I was holding bearish ATM Credit Call Spreads, long OTM Vertical Call spreads, and Long ATM, ITM, & OTM Puts.

If profitable: Planned trades will take place around 12pm est. today. I will either halve my positions AND/OR buy back some or all of my short Calls. I will use some of the profits from the close of the short calls to purchase a ATM Diagonal Call Spread, Long ATM Puts, and ATM Short Credit Call Spreads slightly OTM puts. I plan to exit these positions around the open of the trading session tomorrow.

#MercurySquareMars @3:33am est.

#MoonSextileNeptune @6:05pm est.

#MoonTrineSun @8:24pm est.

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