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S&P 500 Predictions for October 10, 2023 (Early Access)

Updated: Sep 18, 2023



  • Day’s Theme: Three pokes through the same price level and a sharp drop after the third poke.


  • Behavior Around the High: We may see a new local high.


  • Behavior Around the Low: An important price level on a multi-day scale around the low.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around a failed attempt to break through key resistance and a decline through key support.

    • An opportunity to open a short position in the midst of a rally around the open. You could close that after a decline that increases with momentum between 10:00 and 11:00.

    • An opportunity to open a short position in the midst of a breakout at the end of the day around the close.



Overview


On October 10th, we’ll notably decline in the pre-market. Right around the open, there’s an opportunity to open a short position in the midst of a rally along a diagonal trend line and a fast, sudden move higher. That rally ends in the first half hour and there’s a decline that increases with momentum moving into the 10:00 to 11:00 hour. I would close that short position in the midst of that decline. There’s a lot of ground covered to the upside around 12:30. There’s a rally between 1:00 and 2:00 that presents another trade opportunity. We’ll bump sideways along resistance, have a sharp drop, and then have more movement back to the upside at the end of the day. There’s another opportunity to open a short position in the midst of that breakout.






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