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S&P 500 Forecast for Thursday, August 13, 2020

Updated: Aug 1, 2022

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75% Accuracy (6 correct statements out of 8 statements.)

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Day's Theme - Decline in the premarket. Strong move higher followed by some retracement AND/OR sideways movement through midday. Around roughly 12:30pm to 1:30pm est and big move higher takes place. From around 1:45pm to 2:15pm est. there will be sideways movement AND/OR price swings reflecting indecision. Bulls win as there is another big move higher into the close. Finishes up and at the top of a range AND/OR higher into the close.

1-Day High - End of day AND/OR the close.

1-Day Low - Premarket AND/OR around 12:30pm to 1:15pm est. AND/OR significant low tomorrow.

Planned Trades -

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Headlines

IEA Cuts Oil-Demand Forecasts as air travel outlook darkens.

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IEA cuts oil demand estimates for 3Q and 4Q.

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Trump says UAE and Israel agree to normalize relations.

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Chart of global jet fuel demand.

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