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S&P 500 Forecast for Thursday, August 6, 2020

Updated: Aug 1, 2022


100% Accuracy (11 correct statements out of 11 statements.)

Day's Theme - Gap down to support OR a premarket high followed by a decline around the open. The day's low around the open provides an opportunity to open long positions. Indecisive, sideways movement bumping along a support/resistance line from roughly 10am to 12pm est. A retest of the low AND/OR a reversal off of a support/resistance level around 11am to 12pm est. From roughly 12pm to 2pm there is a strong move higher. Classical technical analysis is fulfilled between 1pm and 2:30pm est. There is a reversal AND/OR several changes in direction between 1:45pm through the close. A high is formed between 2pm and the close. There is another opportunity around the last hour of trading.

1-Day High - between 2pm and the postmarket.

1-Day Low - between the premarket and 11:15am.

Planned Trades - Trade window around the open AND/OR between 11am and 12pm AND/OR the last hour of trading.


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