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S&P Daily Forecast for Monday, April 13, 2020

Accuracy Rating: 86% (6 out of 7 statements correct.)

Day's Theme - Range Bound. Falls from new short term resistance level around the open OR opens at a previously established support / resistance level. News disrupts the market around 10am - 11am est.

1-Day High - will form between the premarket and 10:30am est.

1-Day Low - will form between 2pm and the post-market. Big move to reach support / resistance OR a big move off of support / resistance.

Planned Trades: Buy back short put to create a long put position. Sell vertical call spread/s with the intention to buy another vertical call spread at a more opportune moment (probably Wednesday or Thursday.

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