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S&P 500 Predictions for September 6, 2023

Updated: Aug 16, 2023


  • Day’s Theme: A rally that increases with momentum moving forward in time.


  • Behavior Around the High: Mixed behavior around the high and sideways S-formation.


  • Behavior Around the Low: A notable reversal on a multi-day scale, however it’s somehow nullified or made irrelevant.


  • Exclusive Trade Opportunities for Subscribers:

    • I’m advised to trade around a rally that offers an opportunity to open a short position.

    • An opportunity to open a long position for a quick scalp after a move to the downside midday. You could close that after a move to the upside around 2:00.



Overview


On September 6, there’s a move to the upside where we successfully turn resistance into support in the pre-market. There’s some tricky back and forth behavior around the open. There’s a rally that increases with momentum moving forward in time around the morning. That’s followed by a decline down to and through support around 10:00. We’ll then have a rally back up into resistance around 10:45. There is, however, a fake out midday where we’ll then move to the downside. In the midst of that move to the downside, you could open up a long position for a scalp. You could close that after a move to the upside around 2:00. We’ll then have a failed attempt to break through key resistance toward the end of the day. Around the close, there’s an important support level on a one-day scale.






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