S&P 500 Predictions for December 15, 2023 (Early Access Public)
- Kapproveb Alcyone
- Oct 16, 2023
- 1 min read
Updated: Apr 16, 2024
Day’s Theme: An overbought crest that we sell off from through multiple support levels.
Behavior Around the High: A failed attempt to break through key resistance and a decline through key support, however this behavior is somehow made irrelevant.
Behavior Around the Low: An overbought peak that we’ll sell down from through multiple support levels into the low.
Exclusive Trade Opportunities for Subscribers:
Exit any long positions opened in the last day or so.
An opportunity to open a partial short position in the last hour after a move to the upside.
Overview
In the pre-market, there’s a decline to and through support to meet a second support and then rotate sideways into the open. Around the open, we’ll have a big move to the upside standing out on at least a one-day chart. We’ll rally along a diagonal trend line and then have a fast, sudden move higher ending that rally between 10:00 and 11:00. We’ll then break down through that diagonal trend line with increasing volatility on the way down. We’ll then have some kind of fake out. I’m advised not to chase a rally higher.
Between 1:00 and 2:00 there’s a prominent move higher followed by a full retracement of that move back down. We’ll sell down through support to meet a second support and then do a U-shaped reversal back up to support. There’s mixed behavior in the last hour and possibly a move to the downside. There’s a move to the upside in the last hour where you could open a partial short position.
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