S&P 500 Forecast for Thursday February 10th, 2022


Theme:

Sharp decline and headwinds.


Overview:

There is a big move to the upside in the pre-market and a notable rally that picks up steam around the open. We reach distant resistance in the first half hour, and there is a courageous rally out of a decline. From 11am to noon we have an opportunity to open a position in both directions. In the following hour we poke through the same price level three times and drop. From 1pm to 2pm there is a flight to safety and 2pm to 3pm comes with a sideways-S formation. In the last hour, Congress is highlighted at the end of the day and a big move to the upside picks up steam and becomes more pronounced into the post-market. At the close we have a peak through resistance.


Around the high there are multiple failed attempts to break resistance and the low is going to form from a drop in support.


Sneak Preview:

A male ruler is highlighted and we bump against resistance.


9 views0 comments