S&P 500 Forecast for Monday, November 22, 2021

Theme:

A big push to the upside followed by an equidistant push back down. The highs form two peaks within a U-shape, both upright and upside down.

Daily Overview:

There is a push to bounce along resistance in the pre-market. There is a low there, and we either hit the bottom or top of the range, right around the open. We have a high correlator for a local high on this day around noon or a bit after. We break down through support by 11:00am. In the following hour there are three pokes through resistance and then a decline. From noon to 1:00pm there are three crosses through a price level, confirming a bullish trend.

From 1:00pm to 2:00pm, there is a notable high, with the Ace of Wands energy indicating an upside-down U. Congress is highlighted between 2:00pm and 3:00pm, and there is selling off from a rally in the last hour. We have a U-shaped dip again, right around the close. This is going to be a trade opportunity. The Prudence card is in the close as well, and there is a move to the upside out of a low. The trade opportunities are at the highs and lows, with notable news after market hours.

Looking to Tomorrow:

The Sneak Preview card is a bullish move higher.