S&P 500 Forecast for Friday, December 17, 2021

Updated: Oct 3, 2022

Theme:

Very bullish. A big move higher.

Around the Low:

Ace of Cups with Prudence. This probably means that we are coming close to the end, because Prudence indicates a bottom. We also have a revisiting of an opportunity.

Around the High:

An agreement between two leaders or a merger of some kind. A triangular top or high.

Overview:

There is a low correlator in the pre-market and around the open. There is a sudden fast move to the upside during this time as well. There is some bearish behavior, bouncing around a price level at the open. There is a poke through resistance followed by a decline right after. There is more decline to reach a low between 10am and 11am. In the next hour, there are three pokes through resistance followed by a decline. Then we go bullish, the big move to the upside correlates to the Sun card around noon to 1pm. There is a trade opportunity between 1pm and 2pm, which will be in an overbought territory, so around the 80 mark. I will probably buy a short position and sell it at the close. There is a low correlator in the last hour, the Death Card, which is a decline to an important low or bottom. This will be a trade opportunity combined with a failed attempt to breach resistance or a sharp decline. There is a trade opportunity at the close with a big push higher. There is a confirmation of a bullish trend due in the post-market.

Looking to Tomorrow:

Bearish behavior bumping along support.