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S&P 500 Forecast for Monday, November 15, 2021

Updated: Oct 3, 2022





Theme:

The Game Card, but it is nullified.


Around the Highs and Lows:

We also have a nullified high and a nullified low. The behavior around the high is a selling from a high, taking profits from a nice upward move. Behavior off of the low is a significant move higher, even in the face of multiple headwinds.


Daily Overview:

In the pre-market, we have a courageous rally out of a decline. Right around the open, there is selling from an overbought territory. The price level that we test this morning feels like a resistance level. Between the open and 10:00am, we have a brief poke up through resistance and a break back down through that same price level. There is a price level tested around 10:00am, and it looks like there could be a high. We have a breakout to the upside to another high around 10:15am-10:20am, and then a breaking down through a diagonal trend line to meet a trough.


This is followed by a significant move to the upside between 1:00pm and 2:00pm, and then there is a sharp move to the downside around 2:00pm to 3:00pm. There is a testing of a support level. It looks like we go up, down, and back up in the last hour. Then we have some bullish behavior at the close along a diagonal trend line to break through resistance and meeting another before pulling back. There is some sideways-S behavior in the post-market and a high, there is likely some news that will come out here or the following morning.


Looking to Tomorrow:

The Valour Card, which indicates bumping along a resistance level(s).









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#_______%Accuracy


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