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S&P 500 Forecast for Wednesday, October 7, 2020

Updated: Aug 8, 2022


% ( correct statements out of statements.)

Day's Theme - Gap down AND/OR strong decline from an early move higher. Wild swings AND/OR sharp move higher from the open the will subside between roughly 10am and 11am est. A notable decline between roughly 11am through 12:30pm. A notable move higher from the preceding trough. Between roughly 2pm and 3pm est. there will be 3 pokes at a resistance level. Some tricky behavior moving into the close so I advise myself not to make any emotional/impulsive decisions at that time.

1-Day High - A peak around 10:30am-ish AND/OR and peak (likely day's high) around 2pm-ish est.

1-Day Low - at or around the open.

Planned Trades - I will:

1) BTO leveraged bullish ETF shares in the premarket. & STC the position between the open and 10:30pm at the first retest of intraday resistance.

2) BTO puts around the same time as I sell the leveraged bullish ETFs from the preceding trade. STC puts after a decline that retests a low.

3) Following the retest of the low there will be a sharp move higher. I advise myself to BTO leveraged bearish ETFs in preparation to STC in Thursday's premarket.


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