S&P 500 Forecast for Monday, November 2, 2020

Kapproveb Alcyone
Oct 7, 2020
2 min read

Updated: Aug 8, 2022

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Day's Theme - An evening star as a 1-day bar AND/OR a sharp rally higher. A decline through support in the premarket. A strong rally out of the morning's low takes place between the open and 12pm est. The rally will be highlighted by a male financial authority. Following the morning rally a notable decline will place between roughly 10:45am and 12:15pm est. Between roughly 12pm and 2pm support / resistance is met AND/OR the S&P500 returns to roughly even for the day. Around roughly 2pm through 3pm est. their is another significant rally that reaches resistance AND/OR retraces back to or through the day's earlier high. A reversal at resistance off of the end of day high. Another low at AND/OR after the close.

1-Day Low - Forms between the premarket and roughly 10:10am est. AND/OR forms between the close and the post market.

1-Day High - a high between 10am and 12pm est. and the Day's High takes place roughly between 2pm and the day's close.

Planned Trades - Trade windows in the first half hour of trading and at the close/post-market.

Provided their is a gap down at the open:

1) I will likely STC long puts at or around the day's open.

2) I will most likely choose to BTO a long calls at the or arounds the day's open. *or BTO a long straddle depending on the opening levels.

3) I will then STC the long call position