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S&P 500 Predictions for September 29, 2023

Updated: Aug 22, 2023

  • Day’s Theme: A pretty mixed day. A key resistance level is highlighted.

  • Behavior Around the High: We’ll meet a key resistance that we failed to break through before and decline off of it pretty notably.

  • Behavior Around the Low: A move higher through resistance. We’ll stay above it briefly and then break down shortly thereafter with a full retracement.

  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade a rally along a diagonal trend line.


On September 29th, we’ll revisit a support level in a period of sideways rotation along support in the pre-market. There’s sideways rotation and tricky chart behavior around the open. There’s a fake out or shake out of some kind around the open. We’ll then have a move higher within a period of volatility. We’ll meet a key resistance level and then decline into a trough between 10:00 and 11:00. We’ll also have a rally out of that trough between 10:00 and 11:00 and move into a high around noon at a key resistance level. There’s some sideways rotation and a move higher marking the end of that rotation between 1:00 and 2:00. We’ll revisit a support level after a trough around 1:45. We’ll then rally into a peak or crest around 2:45. I would close out of a long position and open a short position there. There’s another notable move higher reaching for a day’s high in the last hour. We’ll sell off in the post-market through multiple support levels.

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