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S&P 500 Predictions for October 20, 2023 (Early Access)

Updated: Sep 26, 2023

  • Day’s Theme: A sideways-S formation within a channel.

  • Behavior Around the High: Nullified.

  • Behavior Around the Low: A U-shaped dip near the intersection of two perpendicular diagonal trend lines.

  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around a notable decline through multiple support levels.

    • An opportunity to open a short position after closing a long position around 11:00.


On October 20th, there’s some bullish behavior around the open after selling down. A move to the upside will take us to an important range highlighted between the open and 10:00. We’ll then have more of a move to the upside between 10:00 and noon. I’m advised to close out of a long position around 11:00 in the midst of that move to the upside. I would open a short position after closing the long position. I’m advised not to chase that rally. That rally ends with a fast, sudden move higher and then a breakdown through a diagonal trend line. That will take us into a trough around 1:45 where we establish support and then have a big move higher between 2:00 and 3:00. From that peak, we’ll sell off through multiple support levels again which will take us into a low for the day.

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