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S&P 500 Forecast for Wednesday, August 19, 2020

Updated: Aug 1, 2022


63% (5 correct statements out of 8 statements.)

Day's Theme - Significant gap down at the open related to an agreement between two powers. Strong rally out of the open to a high around 11am est. Around 11am to 12pm est. there will be a slight trough AND/OR a slowdown in the rally. Slight selling off of another high between 1pm and 2pm est. More upward movement to breach a resistance level just slightly before stalling out and moving sideways along a support/resistance level into the close. More sideways movement AND/OR some price swinging in the postmarket.

1-Day High - between 10:30am and 11:30am est. AND/OR between 1pm and 2pm est. AND/OR at the close. Minor selling off of multiple highs.

1-Day Low - Premarket AND/OR around 12pm to 1pm est.

Planned Trades - Trade window around the close.

1) I will probably make bearish trades around the close but TBD.

#MoonEntersVirgo @4:20am est.

#MercuryEntersVirgo @9:30pm est.

UXA Index
"EU leaders stop short of calling for new elections in Belarus"
"Portland protests turn violent again"
"FED officials reviewed policy strategy in July" "USGG10YR"
"Expected hit to U.S. consumer if no additional stimulus"
"FED: number of officials saw more clarity on rate path as helpful" "INDU"
"FDA wants more testing before approving Gilean RA drug" GLPG, BMRN
"Target emerges as retail winner in pandemic" TGT
"FED staff forecast less robust 2H recovery in July"
"FED staff saw financial vulnerabilities as notable minutes show"

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