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S&P 500 Forecast for Monday February 7th, 2022

Updated: Sep 4, 2022


Multiple failed attempts to break resistance.


There is a flight to safety in the pre-market, and there is a false bottom or top. There may be multiple of those right around the open and a very sharp decline in that first half hour. There is an unexpected failure and a sharp decline between 11am and noon. From 12pm to 1pm there’s an establishment of support and a sudden, sharp move high in a period of rotation. There is an opportunity to position on both sides of the market and some volatility. There is another sharp move to the downside. We have a big pop higher in the last hour, likely due to being severely oversold. It could even reflect a short squeeze and a fast sudden move higher in the post-market. There is indecision around the close and back and forth movement.

Around the high there is some sideways behavior in a tight range. Around the low there is a notable price level and technical range.

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