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S&P 500 Predictions for November 17, 2023 (Early Access Public)

Updated: Oct 26, 2023



  • Day’s Theme: A bullish day with an opportunity to open a short position and a gap down over the weekend.


  • Behavior Around the High: We’ll break above a resistance level briefly and then break back down shortly thereafter.


  • Behavior Around the Low: Bumping up against resistance that we failed to break through before.


  • Exclusive Trade Opportunities for Subscribers:

    • An opportunity to open 50% of a long position in the first hour and a half and the other 50% after a sharp drop midday.


Overview


There’s a period of volatility and someone speaking in the pre-market. There’s sideways fluidity around the open followed by a notable move to the downside through multiple support levels in the first half hour. At a low between 10:00 and 11:00 we’ll have a prominent move higher and then a full retracement of that move. I would open up 50% of a long position here at a low. There’s a key resistance level highlighted between 11:00 and noon where volume and volatility will flatten out. There’s also a trade opportunity there.


There’s a sharp drop within a period of sideways rotation midday. There’s an opportunity to open up the other 50% of a long position after that drop. Between 1:00 and 2:00, there’s some sideways bumping along resistance. There are three crisscrosses back and forth through the same price level confirming a bullish trend between 2:00 and 3:00. There’s a big move to the upside toward the end of the day and a lot of price change around the close with a new high. I would close the long position at that high. It looks like there’s retracement over the weekend.








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