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S&P 500 Predictions for September 15, 2023

Updated: Aug 18, 2023



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


  • Behavior Around the High: We’ll decline from the high to revisit a support level we recently met once before.


  • Behavior Around the Low: A move higher out of the low and then a retracement back down.


  • Exclusive Trade Opportunities for Subscribers:

    • A decline before noon offers an opportunity to open a long position for a quick scalp trade. You could close out after a move higher soon after opening the position.



Overview


On September 15th, there’s a notable move higher to a peak or crest around the open. We’ll have sideways rotation around the open and a fast, sudden move higher into a peak or crest in the midst of a sideways-fluctuating rally. We’ll decline from that pretty notably into a low between roughly 10:00 and 11:00. After that, there’s a notable move to the upside into a peak or crest. That rally ends with a breakdown through a diagonal trend line. That decline offers an opportunity to open a long position for a quick scalp. We’ll then have a fast, sudden move higher taking us to a high. You could close out of the long position at that high.


There’s a sharp drop within a period of volatility between roughly 1:00 and 2:00. Between 2:00 and 3:00, we’ll have sideways rotation, rise to meet the nearest resistance, and then fall back down to continue rotating sideways. An important resistance level is highlighted in the last hour. We have a notable decline from that resistance level through multiple support levels into a low in the post-market.



Sneak Preview


On September 18th, it’s very likely we’ll see another lowest low for the month.






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