S&P 500 Predictions for October 6, 2023 (Early Access)

• Day’s Theme: We’re bound by an important range on a multi-day scale.

• Behavior Around the High: We’ll bump along resistance sideways.

• Behavior Around the Low: Multiple false bottoms. I’m advised to be cautious around the low.

• Exclusive Trade Opportunities for Subscribers:

  • I’m advised to trade around a period of volatility that ends with a fast, sudden move higher.

Overview

On October 6th, we’ll have a low first thing in the morning. There’s an opportunity to open a long position here. We’ll have a move out of the low into a high somewhere between 10:00 and 11:00. You could close the long position after that move to the upside. We’ll have some bearish price swings and possibly another high around noon. We’ll then have a notable decline. That’s followed by meeting a resistance level that we’ll fail to break through and another decline somewhere between 2:00 to 3:00. We’ll have some sideways rotation and then right at the close there’s a bit more decline.

Sneak Preview

A decline that ends with a fast, sudden move higher.

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