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S&P 500 Predictions for October 9, 2023 (Early Access)

Updated: Sep 18, 2023



  • Day’s Theme: There’s a big move from the bottom of a range to the top of a range out of a decline.


  • Behavior Around the High: A pop and drop.


  • Behavior Around the Low: Nullified.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around when we successfully turn resistance into new support.

    • An opportunity to open a long position around the open after a decline. You could close that at key resistance around 11:00.

    • An opportunity to open a short position after a move to the upside right around the close.



Overview


On October 9th, there’s a notable move to the upside in the pre-market. There’s a decline around the open that offers an opportunity to open a long position. There’s also a significant low in the first half hour. We’ll meet a distant/key resistance around 11:00 that offers an opportunity to close that long position. After that move to the upside, we’ll have a full retracement back down. We’ll then have a sideways-fluctuating rally into a high between noon and 2:00 that precedes a decline.


There’s a sharp drop within a period of sideways rotation along key support. In the last hour, there’s a failed attempt to break through key resistance and a decline through key support. There’s then a big move to the upside right around the close that offers an opportunity to open a short position.



Sneak Preview


We’ll open lower and have the halting of a bullish trend marked by a sharp decline through key support.






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