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S&P 500 Predictions for October 18, 2023 (Early Access)

Updated: Sep 23, 2023



  • Day’s Theme: A new local high and a big move to the upside around the open.


  • Behavior Around the High: An unexpected move higher.


  • Behavior Around the Low: An important technical price level at the low.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around a period of sideways rotation and a sharp drop that stands out within that sideways rotation.

    • An opportunity to open a short position first thing in the morning. I would close that at a low between 11:00 and noon.



Overview


On October 18th, there’s an opportunity to open a short position first thing in the morning. I would close that at a low between 11:00 and noon. When I close that short position, I would open a long position in anticipation of a notable move to the upside that takes us to a key resistance level. After that move to the upside, I’d close that long position and then open another short position. There’s a substantial decline between noon and 2:00. Around 2:00, there’s some sideways rotation and a prominent move higher followed by sideways rotation at a higher price level. In the last hour, we’ll sell off from a crest through multiple support levels into the post-market.



Sneak Preview


A decline from resistance into support and back and forth again.







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