S&P 500 Forecast for Friday, May 21, 2021

Updated: Aug 17, 2021

***********

93% (14 correct statements out of 15 statements.)


Bad news that produces a temporary financial crisis having to do with unemployment and/or heavy debt are highlighted today. The overall behavior of the S&P 500 is that of a bearish consolidation. In the pre-market, we see sideways fluctuations on higher than average volume as the market exhibits a rebalancing. Right around the open there is a strong rally. Between the open and roughly 10 AM EST there are multiple attempts to break out through key resistance. A leader making an impactful decision is highlighted between roughly 10 AM and 11 AM EST. A significant move higher out of a strong decline is exhibited. He provides great motivation and sentiment on the street becomes definitively bullish. There may be an absence of reason and extreme greed and confidence exhibited by a powerful move higher on huge volume between the hours of roughly 11 AM EST and 12 PM EST. From 12 PM to roughly 1 PM EST, the S&P 500 establishes support, testing and confirming a technical level before moving higher. Between the hours of 1 and 2 PM EST, a high is formed within a period of consolidation. The street sentiment is that of trusting that things will improve soon, but this high is short lived as there’s a pullback after breaking through a horizontal resistance along a diagonal trend line. There’s a breakdown right around 1:45 PM EST. A day’s high is formed around 1:25 - 1:30 PM EST. There’s an opportunity for myself to trade here from the high to the low, possibly at the low as well to the following high. A leader is highlighted providing motivation and inspiration, yet there’s a breakdown through a diagonal trendline after a high or crest and/or after a notable rally along a trend line. In the last hour of trading, a short lived peak and or crest forms when price moves up through a resistance to reach a notable peak before falling back down to the same level it had breached previously. Right around the close, there’s a temporary pause where investors take a break to reconsider positions and flat volume is exhibited, only momentarily. In the post market and possibly at the open as well, something impossible happens. There’s a turn for the better. Stocks soar on a very strong upward move reaching for a high. The behavior around the low of the day is marked by a strong bullish move out of a strong decline. The day’s high is marked by buyer’s remorse, a breakthrough of a horizontal resistance level while traveling along a diagonal support level, followed by a pullback through the aforementioned horizontal resistance level due to buyers remorse. I advise myself to trade around the reversal. A chance meeting changing street sentiment is a signal for timing my trade. Sneak peak into tomorrow is that there is an unexpected opportunity where the improbable happens. Free members of TheInvestorProphet.com read these forecasts days in advance. Subscribe now.



#SunInGemini

#MoonInVirgo #2ndQuarterMoon #2ndQuarterMoonInVirgo #MoonInLibra #2ndQuarterMoonInLibra

#MercuryInGemini #MercuryDirect #MercuryDirectInGemini

#VenusInGemini #VenusDirect #VenusDirectInGemini

#MarsInCancer #MarsDirect #MarsDirectInCancer

#SaturnInAquarius #SaturnDirect #SaturnDirectInAquarius

#JupiterInPisces #JupiterDirect #JupiterDirectInPisces

#NeptuneInPisces #NeptuneDirect #NeptuneDirectInPisces

#UranusInTaurus #UranusDirect #UranusDirectInTaurus

#PlutoInCapricorn #PlutoRetrograde #PlutoRetrogradeInCapricorn

#ChironDirect #ChironInAries #ChironDirectInAries

#MoonVirgoSquareMercuryGemini @7:47am est.

#MoonVirgoOppositionNeptunePisces @9:24am est.

#SunGeminiSquareJupiterPisces @11:03am est.

#MoonVirgoTrinePlutoCapricorn @3:56pm est.

#MoonEntersLibra @9:35pm est.

#MoonLibraQuincunxJupiterPisces @10:59pm est.

#MoonLibraTrineSunGemini @11:46pm est.


 


Barry Diller live from NYC's "little island"; IMF backs $50 billion plan to help world escape Covid crisis
Barry Diller live on Apple's fight with epic; "Le Pavillon" opens as restrictions lift
Week's best sectors: real estate, health care; Markets plagued by week of volatility
(AAPL) Tim Cook takes the stand Apple vs. Epic Games; Tax negotiators target mid-'21 agreement
S&P 500 hovers near breakeven for month of May; (APPL), (MSFT), (AMZN), (TSLA)
Diller: Apple overcharges companies in 'disgusting manner'; S&P 500 turns positive for the week
U.S. April existing home sales fall to 5.85M rate; est 6.07M
Pandemic productivity boom what it means for workers & growth
(MSTR), Microstrategy CEO on Bitcoin's volatility; Goldman sees increase in bridge loans
(KSU), (CNI), (CP); The rise of magafirms
Exclusive: Microsoft CEO; SXXP, EU finance ministers optimistic on recovery
Bulls vs. Bears how to invest in this market; State of NYC's outdoor space
Pandemic productivity boom; FED signals open to Taper talk
China hammers Bitcoin anew
Giving away crypto; K.C. Southern confirms $30B deal with Canadian National Railway
(OTLY), Oatly jumps in second day of trade, holding above $17 IPO price; Allen vs. Mcdonald's
Tim Cook leaves court after Epic Games trial testimony; CDC school guidance affirmed in study backing masks, airflow
Nasdaq lags major averages
The consumer comeback XRT up 40% YTD; Lumber futures jolt higher again
CCRIDOGE Index