S&P 500 Forecast for Friday January 7th, 2022


Theme:

Fast, sudden move higher within a period of volatility.


Overview:

In the pre-market we have a big move to the upside to reach support. This move continues in the first half hour, and then we have bullish sideways fluctuations from 10am to 11am. We meet a notable price level between roughly 11am and 12pm. Then there is another big move to the upside in the next hour. There are two equal and opposite moves that cancel each other out between 1pm and 2pm. There is more volatility in the 2pm to 3pm hour, and another big move higher in the last hour. This day would be a good day to buy long positions while the market is tanking. There is a courageous move higher out of a decline in the post-market. Around the highs there are pokes through resistance levels followed by a fail. At the low we are at a support level, which appeared on Thursday.


Looking to Tomorrow:

There is a courageous move out of a decline.



10 views0 comments