Performed by Kapproveb on August 29th @ 9:33pm
The overall behavior and theme for the S&P 500 throughout the day has something to do with financial instability and volatility. We should see a sharp dip and price swing within an already volatile market. Behavior around the high is the Ten of Cups, which is a significant sell off from a high, taking profits. Selling off that high, people are taking these profits while everything still looks good. I think that it is because those who are taking the profits actually know what is coming. The behavior around the low, or lows, is a push higher that bounces around some resistance level, likely popping above it to another one. We are going to spend time out of the low, bouncing on and hanging out around resistance levels, even if we break through one of two. People are starting to see activism and difficulties ahead, and they are catching on. The moments to trade are highlighted by a male economic leader. This has something to do with providing support or economic security through calculated risk.
There is an end of a period of bullish rotation, which is marked by a big move higher. We have the Ace of Disks in the premarket, which has some clairekinetics. There are a few things that could happen. The premarket contains a high, but whether we open above or below where we closed on Friday is a little tricky. I would like to see it open lower. There is a rally or high in the premarket and roughly around the open, where we see selling off and taking profits. Some bullish rotation and volatility are seen around the open and first two hours of the day. There is also a failed attempt to break key resistance and/or a breakdown through support levels. The theme revolves around the termination of an executive. Maybe the president, maybe not. With the Queen of Swords involved, there is likely a female leader playing a part in this.
Right after we open, we have a high or the high at that period of the day. We have a failed attempt to break through key resistance, followed by a breakdown through support levels. There are more tests between 10:00am and 11:00am. This has something to do with the military, and the market is nervous, which is shown through the multiple attempts to break key resistance. However, this does not mean that we actually break it.
Then there is some sort of news around noon. It might be a holding pattern but looks like volatility calms after bumping along resistance levels. We see drops, but multiple times we come against key resistance. These drops eventually calm and there is a period of flat movement, most likely with low volume, indicating that this news comes out before noon. It should be expected between 11:30am and 12:00pm. Following that we see a significant dip within an already volatile market. Out of that dip, which looks like a low around 1:00pm or 1:10pm, we see a back-and-forth swing toward 2:00pm, probably with and upward movement and the bulls slightly winning. This quickly transitions into a sharp move higher, and we test that same resistance level that we were testing earlier. We cross above, below, and above again, roughly between noon and 2:00pm. After the third cross, there is a confirmation of a breakdown, which will be between 12:00pm and 2:25pm. There is a lot of fire. In this time frame, we will see the low, moving higher off of it to bounce up against resistance levels. This is all about these resistance levels. We do have that sell off in the beginning of the day, at a high, and then a sharp dip in an already volatile market, roughly around noon.
This confirmation of a breakdown could also be a price swing. Around when the news comes out, we drop, pop, drop, and pop again. Either that or we have just one sharp dip between 10:00am or 11:00am. If it is the pop and drop situation, that is to happen between 11:30am and 2:30pm. With the high likely being right around 12:30pm and a low around 1:00pm, the news should come out roughly between 11:30am and 12:00pm.
Now looking between 2:00pm and 3:00pm. At 2:00pm we move significantly higher out of that breakdown. During this time, we see a breakout and we are moving towards a high, where I plan to open protections or short positions. That is while the market will continue to move higher. When you are working with options, it is best to do the necessary trade-in when the market is going in the opposite direction, resulting in a discount. Oftentimes, traders do not do this because they cannot predict what is happening. I will buy protections and open short positions around 2:15pm, give or take 10 minutes.
We are going to continue to move higher. The Futility card, the Seven of Swords, is at the end of the day, indicating an intentional fake out. A daring move higher, intending to cause impulsive decisions through convolution and deception. This is a shaking out of short-term investors. Remember, we are going down this month, even though we may have an upward trend around the moon. The big boys plan so we can prepare for what is happening. We are going to be shaking out these short-term investors.
We had a dip, then there is a bigger dip, and then the biggest dip, which is the beginning of a correction. There is a strong rally higher, even in the case of seemingly overwhelming headwinds, right into the close. Around the close, we have a trade opportunity, and it is within a sideways S. This formation is in between a support and resistance. Whether or not it continues upward or downward has to do with the Five of Cups. This card indicates a mixed sideways decline and unexpected failure. The Queen of Cups ends up with a downward turn in the post-market.
The trade opportunity is roughly a very low bottom around a notable low. This will be around 1:00pm, looking to be bullish and an opportunity to close out short positions, which would cause me to roll out my bearish positions further. Also, depending on where we are in the day, it could be an opportunity to open long positions, in which case I would sell them at the end of the day. There also seems to be a trade opportunity the following day, on a decline. With the Prudence card, this is going to be another fake out. It will be exciting, and everything will seem as if it is doing so well. The market will keep going higher and then the next day there will be a decline. That is the Futility card mixed with the Prudence card. They are literally trying to get people to chase a rally that does not exist.
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