S&P 500 Weekly Forecast for August 31 - September 4, 2020

Updated: Aug 1, 2022

The Week's Theme - Choppy sideways. A female ruler AND/OR the environment / climate change / natural disaster(s) may be highlighted.

Monday - Price swings. Gap down AND/OR decline around the open. Within the first 30 minutes there will be a decline followed by a move higher AND/OR back to the opening level. A strong decline through multiple support levels around roughly 10am to 11:30am est. At least 5 notable reversals AND/OR price swings will take place between approximately 10:30am through the close. Finishes at the week's first high. Strong move higher in the post market.

*Ideally I will take advantage of the price swings to create vertical call spreads for a *credit (usually ia vertical call spread is created for a debit.)

Tuesday - In the morning there is a strong move higher to reach a new high for the week AND/OR to reach the first high for the month of September. Around midday a reversal begins. A sharp drop between 10:30am. The drop meets a support level and reverses AND/OR the drop begins with a reversal off of a newly established resistance level. The drop is followed by sideways movement. Around roughly 12:30 - 2pm there is another notable decline AND/OR sideways price swings. Closes within an established range.

*Sell call spreads and or long calls. *Buy puts.

Wednesday - Gap down AND/OR the days first high in the premarket. The week's low AND/OR the first low for September forms in the first half of the day. Bullish day even in the face of multiple negative headwinds. A very strong move higher begins midday and continues into the close. Another high is formed in the last hour of trading. There may also be some brief sideways movement within the rally at around roughly 2pm-3pm est. AND/OR sideways movement in the postmarket. Finishes higher with selling off of the high.

Thursday - Fear of the unknown. Paranoia, deception, sabotage, anxiety. Someone / something being counted on results in a let down or a deception. A female may be intentionally omitting part of the truth. Opportunities may be found in the low(s). Go with the gut. Money may be delayed AND/OR some kind of fraud may be highlighted. Gap down AND/OR the day's low between the premarket and 10:15am est. Indecision AND/OR sideways movement in the premarket. Misdirection AND/OR a strong rally but with several points at which it looks like it's reached its end. Within the first hour of trading there is a strong move higher AND/OR yesterday's high is met/retested. Some selling off of the early high at roughly 10am to 1pm est. More sideways movement/rotation between 10:30am and 1pm. A steep decline somewhere between 12:30pm and 2:30pm est. A reversal AND/OR sideways movement between 1:45pm and 2:30pm est. A very strong move higher in the last hour of trading. The move higher will not meet the level from which the steep decline started AND/OR the move higher will reach the top of a range or creates a new range. Selling in the postmarket. Finishes higher.

Friday - Gap down to roughly the same low as Wednesday AND/OR bouncing around a support / resistance level in the premarket. Some sideways movement AND/OR price swings from the open. A move higher from roughly 9:45am to 11:15am est. A decline to a support level AND/OR sideways rotation from roughly 11am to 1pm est. Closes through notable support / resistance around midday followed by sideways movement or price swings. Moves higher into the close. Drops below the high in the post market.

The Week's High - 3 main highs all around the same level; Monday around the close AND/OR Tuesday around the open AND/OR Friday.

The Week's Low - 2 main lows; roughly between Tuesday afternoon and Wednesday morning AND/OR again roughly between Thursday afternoon and Friday Morning.

Trading Opportunities: This week has been highlighted as an opportunity when referencing the September 2020 1-Month S&P 500 Reading

1)Monday morning. 2)Early-midday on Tuesday AND/OR around Tuesday's close. 3)Wednesday morning. 4)Around midday on Thursday. 5) Friday TBD.

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