S&P 500 Forecast for Friday, October 29, 2021

Updated: Oct 3, 2022

Theme:

The Change card. There will be some back-and-forth fluidity through equilibrium with bullish rotation. The theme, the high, and the low correlators all have nothing to correlate to.

Behavior Around the Highs:

Selling from a high.

Behavior Around the Lows:

Selling through a support level off of a high into a low.

Overview:

On the one-month overview, there is a low correlator to the month and the Prince of Disks, which is prominent. We have rotation in the pre-market and a sharp move to the upside around the open. There is an opportunity between 9:30am-10:00am, I am thinking that it is most likely one to open some short positions. Then we have a move down around 10:00am-11:00am, and then have a sudden move higher within a period of volatility.

From 11:00am-1:00pm there’s a move higher along a diagonal support level, which breaks through resistance to meet another before pulling back to the first. There is a definite clairvoyant impression of a move to a high in the 12:00pm-1:00pm hours. There is also a high or a peak around 1:10pm-1:15pm, and an establishment of support level before 2:00pm. Then there is a very notable push to the upside between 2:00pm-3:00pm. We have another sharp drop in the last hour with some significant movement to the upside right around the close. There is a trade opportunity right around the close in the post-market.

Looking to Tomorrow:

The Peace card, which represents a lull, decreased volatility, low volume, or the flattening out of a price level.