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S&P 500 Forecast for Tuesday, July 28, 2020 Markets

Updated: Aug 8, 2022


100% (3 correct statement out of 3 statements)

Day's Theme - A ruler / rulership is highlighted today. Fake out around the open leads to a prime opportunity to open some short term long positions. Holds around a support/resistance level that it bounces around from roughly 10am to 11am est. At around 11am - 12pm est there will be a notable move (card usually, but not always indicates a move higher.)

1-Day High - 11am-12pm est. AND/OR post-market. Female leader/authority highlighted in the news.

1-Day Low - At the open AND/OR around the close.

Planned Trades - Buy opportunity at the open AND/OR 1pm -2pm est. AND/OR around the close.

At around 10am est. I doubled down on Jul-29 326 Calls to reduce the cost average. The plan is to sell 327 calls against them around the high today, which will result in locking in 1 day profits without placing a day trade. Executed properly I will have put on $1 ITM vertical call spreads for a credit (in essence getting paid to invest in something that could pay out an additional $100 per contract.) At this point there is no risk of a loss of any kind. The worst case scenario is that the credit is kept but I lose the vertical spreads, but still take a profit. Best case scenario is that the vertical call spreads expire ITM and I get paid twice.


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