S&P 500 Forecast for Friday, December 31, 2021

Updated: Oct 3, 2022

Theme:

Big push to the upside with some retracement, an upside-down U-shape.

Around the Low:

Big push to upside off of low, but it is nullified. Likely this push higher will be cancelled out.

Around the High:

Close proximity to opportunity to open long positions. Break down through two support levels off of the high, bounce around, and break down further.

Overview:

The theme card correlates to the pre-market, there is a high correlation with the opening and first half hour card. Around the open we have a breaking down along a diagonal trend line and volatility picks up. There is an opportunity in that decline to open long positions, and then there is a big push higher to reach a high around 9:45am. We have a trade opportunity again, in the midst of a decline. This will be in the 10am to 11am hour, and an important price level is highlighted. There is a big push to the upside again between 11am and 1pm, and both of those hours are correlated to the theme. 11am to noon will come with a big push to the upside, with a U-shaped dip near the intersection of two perpendicular diagonal trend lines.

We have a push out of a decline and another opportunity to open long positions around 1pm to 2pm. There is a crest around 1:40pm and another one around 2:45pm-ish. In the 2pm to 3pm hour, there is a decline through multiple support levels. There are wild swings in the last hour, and it also marks a trade opportunity that highlights a male ruler. Around the close, we have a big push higher and a reversal, and this will take place in overbought territory on the RSI. There will be a sell-off that takes us into the pre-market.

Looking to Tomorrow:

Big move higher, something happens that incites a rally, although it may not hold.