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S&P 500 Forecast for Thursday, October 8, 2020

Updated: Aug 8, 2022


Day's Theme - A surprising turn of events. A trade opportunity is presented in the premarket's low. In roughly the first half hour of trading there will be multiple false bottoms OR multiple false bottoms tops. A fast and significant move higher out of the open. I advise myself not to make any trades at the beginning of the day after making the initial trade in the premarket. A significant bullish move somewhere between roughly 10am and 11am est. From roughly 11am to 1pm est. there is volatility AND/OR followed by a strong move higher somewhere in around 12pm -1pm est.Some leveling off around a support/resistance level around 2pm to 3pm est. Selling through support in the last hour AND/OR around the close. Post market rangebound. Lower low tomorrow.

1-Day High - between roughly 11am and 2pm est.

1-Day Low - forms in the premarket.

Planned Trades -

1) I may take advantage of the foreseen day trade opportunity and BTO same day expiration call options to be sold between 12pm and 1pm while the market is still rallying and before the leveling off at a resistance/support level.

2) I will roll any ITM Put long contracts immediately at the open.

3) I may double down on puts AND/OR BTO more short positions between the hours of 12pm and 1pm est. in anticipation of tomorrow's breakdown through multiple support levels.

#MoonEntersCancer @11:45am est.


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