S&P 500 Forecast for Friday January 21st, 2022


Theme:

There is going to be an agreement between two leaders that affects the masses. Three poles through resistance and a drop at the third attempt.


Overview:

In the pre-market, we have a breakdown through support and we bounce along and break down through multiple levels. In the first half hour there is a big move to the upside and a trade opportunity. There is a selling off from an overbought location on the RSI between 11am and noon. Support is established or re-establish between 12pm and 1pm. In the following hour we have a notable rally higher and we revisit an old opportunity at a support level, and we should revisit that opportunity between roughly 2pm and 3pm. In the last hour of trading there is a move higher. In the post-market we have a rally higher along a diagonal trend line breaking through resistance to meet a second resistance level before pulling back.


Around the high, there is a big move to get to the high. Around the low, there is bullish rotation and possibly some economic data at play.


Sneak Preview:

A notable support level and a move higher. An economic leader, or possibly the Fed, is highlighted.

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