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Prepared by StratagemTRADE.com and Scott
Writing under the nom de plume of J.L. LORD

Tuesday | May 12, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: May 11

I wrote on Monday that I suspect the SPX will trade between 2900 and 2955 all day. We in fact had a low of 2903.44 and a high of 2945.25. I was off 3.44 points on the downside and 9.75 points on the upside. I got lucky.

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The market did get a little scary on the open for a few minutes after covid cases in Korea and Germany increased. This is particularly troublesome for the US which is at the genesis of attempting a soft-opening of our country.

Despite the concerning news, the market bounced higher after the open and slowly wafted higher all day until reaching 2944. At the last hour, selling came in which took the SPX back down to 2930.32 – higher by a mere 0.52 on the day.

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TODAY: May 12

Immediately after cash closed, the Minis fell -10 points lower. From there it fell another -10 points lower (total -20 points). It seems that the market wants to test 2900 one more time.

I am still standing by my prediction (made December 31, 2019) that we will be positive for the year and making new all-time highs by the end of the year. I maintained this stance even when the SPX was down -35% for the year.

S&P 500 Price Limits

From 8:30 a.m. to 2:25 p.m. CST, there are successive price limits corresponding to 7%, 13%, and 20% declines below the previous trading day’s reference price.

From 2:25 p.m. until the 3:00 p.m. CST close of the cash equity market, only the 20% price limit will be applicable.

2020 ONE-YEAR PREDICTION:

Average year with lots of inter42mittent volatility
(-9.30% so far)

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A separate update is coming.

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DISCUSSION BOARD

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LAUGH OF THE DAY

Trading is a tough job on a stomach void of coffee and humor.
You provide the coffee and we will take care of the rest.

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Disclaimer

For education purposes ONLY. Please read the disclaimer below. We do not care if you agree or disagree with it—that is the rule. ​​​Stratagem Trading (Stratagem: “StratagemTrade.com,” “Stratagem”), and any of its possible affiliates, respective independent contractors, employees, officers, or agents are not acting as licensed financial advisers, registered broker-dealers,tax advisers, etc. (although some individuals may or may not hold a license). Furthermore, they do not provide financial advice, make recommendations, or conduct business by transacting trades. Stratagem Trading adamantly states that nothing in this communication constitutes a solicitation, promotion, endorsement, offer or recommendation to buy or sell any investment, mutual fund, debt instrument, commodity, derivative product or security as described herein.

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