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S&P 500 Forecast for Friday, May 7, 2021

Updated: Aug 8, 2022


92% (11 correct statements out of 12 statements.)

The overall behavior of the S&P 500 throughout the day is that of bullish price swings. In the pre market a great motivation causes a powerful move higher on huge volume. Right around the open there are multiple attempts to break out through key resistance. From between the open and 10:00 AM an important milestone is reached when the S&P crosses the same support resistance line 3 times taking a temporary pause in an upward trend. That pause transitions into bearish rotation with significant price swings between the hours of roughly 10:00 AM and 11:00 AM. The day’s first low forms within the same hour. Expect the unexpected between the hours of 11:00 AM and 12:00 PM as the improbable happens. Between the hours of 12:00 PM through 1:00 PM there is a breaking through of the resistance level to form a peak before falling back below the same support level. Around this time I am presented with an opportunity to open bearish positions. Mergers and [acquisitions] AND/OR [an economic partnership] is highlighted within this hour as well. From the high there is a mixed sideways decline due to unexpected [failure] AND/OR [disappointment]. In the last 2 hours of trading there is a very noticeable decline from a [high] AND/OR [crest]. There is a breakdown through at least one support level in the last hour of trading. Right around the close there is a temporary pause exhibited with flat behavior and low volume. The post market exhibits volatility and also offers me the opportunity to open balanced positions.

#AstroOpportunityWindow Begins5/6/21@10:34pm est. Finishes5/7/21@3:36am est.

#MoonEntersAries @7:52am est.


April payrolls +266K; U.S. April jobs report
Cramer's first take; ESA, U.S. April payrolls increase 266K; est. 1M
Average hourly earnings up 0.7% (April); Kashkari: feel good about policy approach
Feb. payrolls revised to up 536K from up 468K; 10-yr yield falls more than 10BPS on jobs miss
(PFE), (MRK), (GILD), (REGN), (JNJ), March payrolls revised to up 777K from up 916K
(LLY), (AZN), (MRNA), (NVAX), (BNTX), Stocks mixed after jobs report
April payrolls up 266,000; 10-year yield plunges on payrolls report
U.S. April payrolls increase 266K; est. 1M
Jobs report disappoints payroll gains fall short of estimates; U.S. April payrolls increase 266K; est. 1M
(BYND), (SHAK), Beyond meat, shake shack sink, pandemic closures weigh on both
(MNST), (APA), (HFC), (UNM), (WFC), Stocks rally after April jobs report; Expedia gross bookings fell 14% in 1Q
Exclusive: Amazon's Dave Limp head of devices and services
Amazon vs Apple ecosystem competition; FARBAST Index, U.S. unemployment rate ticks up to 6.1%
(DBX), Drew Houston Dropbox co-founder & CEO UK's Starmar: 'bitterly disappointing' set of election results
Jason Robins, Draftkings CEO; Elon Musk to host Saturday Night Live
Biden: recovery is faster than we expected; Biden delivers remarks on U.S. jobs report
Bernstein: don't see evidence jobless aid slowing jobs growth
(XLE), (KMI), (NCLH), Bryn's energy buts adds to Kinder Morgan & XLE
Nasdaq up for 2nd day; USGG10YR, Biden: let's not let up, economy still needs stimulus
Chicken wars continue navigating supply and demand; Leisure & hospitality industry adds 331K jobs
(PLTR), Palantir, Bumble among newly public to report
Tilray shares soar after double upgrade at Jefferies
Owen Bennett, Jefferies Sr. VP & Analyst; SQ, Square soars on strong 1Q results
Dow transports sets intraday record high; U.K. reopens travel to 12 locations
CA population drops for first time in history; DKNG, Robins: focused on having a great long-term strategy
Wood: have not seen a month of redemptions yet; ARKK US Equity
Tax avoidance games begin
Stocks shrug off jobs data, S&P, Dow close at records; Stocks climb to new record highs
Zell: seeing labor shortage across industries
Rondeau: we had a lot of time in 2020 to focus on digital when the business was shutdown
Elanco Animal Health (ELAN); Rie: Apple claims it provides more security, reliability through app store control
NJ's vaccination campaign
Draftkings reported a top and bottom line beat for 1Q '21 with revenue coming in at $312m


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