S&P 500 Forecast for Monday, March 29, 2021

Kapproveb Alcyone
Mar 29, 2021
2 min read

Updated: Aug 8, 2022

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100% (6 correct statements out of 6 statements.)

The theme and overall behavior of the S&P for the day is that of a leader making an impactful decision that turns a significant decline into a significant move higher as investors buy the dip. In the premarket a financial / economic situation improves dramatically. Necessary funds arrive AND/OR a moment the street was waiting for. Economic initiatives are taken. Completion of legislation/policy/decision sparks a strong and sudden move higher. Around the open support is tested and confirmed before a move higher. This is followed by bearish price swings between roughly the open and 9:50am which reflects a shift in the Street’s thinking is taking place. The bearish price swings end with a sudden and notable move higher somewhere between roughly 9:45am and 11am. The sudden move higher around 9:45am -11am is an intentional shake out by falsely triggering an indicator AND/OR somewhere between 11am and 12pm there is a strong move counter to true trend direction. Between roughly 12pm and 1pm there is a failed attempt to break resistance AND/OR a breakdown through support level(s). Between roughly 1pm and 2pm there is price fluctuation AND/OR a temporary decline reflecting paranoia and confusion most likely involving the deceptive move earlier in the day. A crest forms between roughly 2pm and 3pm when there is a breakout through a resistance level to form a peak before falling back below the same support level. From roughly 3pm into the close what was cause for bullish sentiment is abandoned due to disillusionment as we see a decline through support that is preceded by a notable high that will not be revisited within the querent's specified time frame. Around the close I may take a balanced strategy, through opening and closing positions, hedging, and/or certain options spreads as I will favor volatility. The post market exhibits overall increase AND/OR wild swings. A breakout through resistance to reach an additional resistance at which point there is a pull back while and older woman helps or interferes with the situation.