S&P 500 Forecast for Monday January 3rd, 2022


Theme:

We bounce around an important price level.


Overview:

We have a sideways-S pattern in the pre-market and we revisit a significant opportunity at a low right around the open. There is an opportunity to short in the first half hour, and off of support we move higher. We reach a peak by breaking through resistance and then breaking back down through that same price level. Then we have some economic data that comes out between roughly 1pm and 2pm. Then we have sideways rotation and a big move higher between 2pm and 3pm. In the last hour there is a sharp move to the downside and a move higher right at the close. There is a peak there that we will be selling off of at an overbought location on the RSI. There will be a great opportunity at the low if you have shorts or are buying calls and riding them to a higher level. There should be something regarding Congress and a female leader highlighted around the high or highs from the day.



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