S&P 500 Forecast for Friday, September 11, 2020

Updated: Aug 1, 2022

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% ( correct statements out of statements.)

Day's Theme - Selling off of a high. In the premarket there is a decline off of a high AND/OR a rally leading to a decline off of it's high. Severe decline breaking down through multiple support levels out of the open. A strong rally starting roughly between 9:45 and10:30am est. The rally lasts through roughly 12pm est. The rally likely meets the same high from earlier AND/OR does not reach a new high. Roughly between 12pm and 1pm there is decline that a retraces a significant portion of the preceding rally AND/OR there is more rally but followed by a full retracement of the portion of the rally that took place from 12pm-ish to the point of retracement. Some more rally from that retracement until roughly 2pm est. At 2pm est. there is a significant decline AND/OR a significant move that will turn out to be deceptive misdirection. Bouncing along a support level into the close AND/OR decline to support at which point it moves sideways bumping off support. Decline AND/OR movement indication indecision or confusion due to a convergence of many indicators. Finishes lower AND/OR provides what will later be seen as a prime opportunity to open a trade.

1-Day High - in the premarket AND/OR between 11am and 1pm est.

1-Day Low - in the first hour of trading AND/OR around the close.

Planned Trades - I will open a trade dependant on where the market closes. If i'm right and it closes higher I will open a trade with bullish expectation. If it's lower I will do the opposite. Or I may open both ATM.

DAY TRADE OPPORTUNITY - After the initial drop from the opening level and only if the market has broken down through multiple support levels I will open bullish positions around 9:45am - 10:15am est. and close them around 12pm est. when the market gets close to the level or its initial high.