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S&P 500 Predictions for December 4, 2023 (Early Access Public)

Updated: Nov 25, 2023



  • Day’s Theme: A lowest low thus far.


  • Behavior Around the High: A prominent move higher and then a full retracement back down.


  • Behavior Around the Low: Selling off from a notable peak through multiple support levels to meet the low.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around a rally that increases with momentum moving forward in time.



Overview


In the pre-market, there’s an important technical price level and a significant decline into the open. There’s a failed attempt to break through key resistance and a decline through key support in the first half hour. Out of that low, there’s a bit of a rally into a crest that we’ll sell off from down to and through support. We’ll break down through another support and then do a U-shaped reversal to come back up and reuse that price level as support. There’s another trough around 11:15 from which we’ll have an unexpected move to the upside. We’ll move into an overbought peak or crest around noon. We’ll then have a move back down into a low. We’ll establish support with some sideways rotation and then have a big move out of that low. That turns into volatility between 2:00 and 3:00. That volatility ends with a fast, sudden move higher taking us to a trade opportunity around 3:00 at a brief peak that’s easily missed. You could open a short position for a swing trade at that peak. We’ll then have a notable decline off of that peak through multiple support levels. There’s likely a high followed by a significant decline at the end of the day.







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