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September 13, 2022 S&P 500 Predictions (RATED)

Updated: Dec 1, 2022

*Accuracy rating update: 92% or 12/13 predictions correct*




Theme:


A notable decline will stand out on a multi-day chart. This decline presents an opportunity to open up a long position. There’s a notable rally to meet the day’s high, and from the day’s high we have a decline through a support level to meet a secondary support. The high and low are near each other. The behavior out of the low is a notable move higher, successfully turning resistance into new support.


Overview:


On September 13, 2022, we start the morning with a gap down followed by a notable move to the upside around the open. This marks the beginning of a rally. Between roughly 10:00 a.m. and 11:00 a.m., we revisit past problems and have a flight to safety. Between 11:00 a.m. and 1:00 p.m., we have a move higher through a resistance level. We stay above that resistance level briefly and then we break down through that same price level shortly thereafter. We’ll see a day’s high around this time. From the day’s high, we drop through a support level to meet a secondary support level and bounce along the secondary support level rotating sideways. This will occur around noon. This is followed by a notable decline. Around 2:00 p.m., the decline ends at a low. There’s then a fast, sudden move higher marking the end of the decline. It looks like it will push the upper end of a range on a one-day chart.


In the last hour, we have a U-shaped dip. Right around the close, we have a decline through a support level to meet a secondary support level and then bounce along that for a bit before breaking down through multiple support levels. In the post market, we’ll likely have a move higher followed by a full retracement back to where the move higher started. I’m also advised to open up some protection here.





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