S&P 500 Forecast for Monday, August 31, 2020

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100% (10 correct statements out of 10 statements.)



Day's Theme - Price swings. Gap down AND/OR decline around the open. Within the first 30 minutes there will be a decline followed by a move higher AND/OR back to the opening level. A strong decline through multiple support levels around roughly 10am to 11:30am est. At least three notable reversals AND/OR price swings will take place between approximately 10:30am through the close. A notable move higher around 1:30pm. Closes down but with a strong move higher in the post market AND/OR closes higher. Opportunity to go bullish at around 2pm - 3pm est.

*Ideally I will take advantage of the price swings to create vertical call spreads for a *credit (usually a vertical call spread is created for a debit.)

1-Day High - Undetermined.

1-Day Low - between 11am - 12pm est. AND/OR 2pm - 3pm est. AND/OR postmarket.

Planned Trades - Opportunity at the lows.

1) I'm closing short positions somewhere between 2pm and 3pm est.

2) Open some long positions at the lows/troughs that form somewhere between 10:45am and the post market. There will be at least two or three troughs throughout the day that provide good opportunities to open long positions.

3) Depending on where the market is at the time, I may open more long positions AND/OR double down on long positions between 2pm and the close.


#SunInVirgo

#MoonInAquarius #2ndQuarterMoon #2ndQuarterMoonInAquarius

#MercuryInVirgo #MercuryDirect #MercuryDirectInVirgo

#VenusInCancer #VenusDirect #VenusDirectInCancer

#MarsInAries #MarsDirect #MarsDirectInAries

#SaturnInCapricorn #SaturnRetrograde #SaturnRetrogradeInCapricorn

#JupiterInCapricorn #JupiterRetrograde #JupiterRetrogradeInCapricorn

#NeptuneInPisces #NeptuneRetrograde #NeptuneRetrogradeInPisces

#UranusInCapricorn #UranusDirect #UranusDirectInCapricorn

#PlutoInCapricorn #PlutoRetrograde #PlutoRetrogradeInCapricorn

#ChironDirect #ChironInAries #ChironDirectInAries

#SunVirgoQuincunxChironAries @4:54am est.

#MoonAquariusQuincunxMercuryVirgo @1:14pm est.

#MoonAquariusQuincunxVenusCancer @6:28pm est.


#Gap

#Open

#Close

#Monday

#August


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