S&P 500 Forecast for Thursday February 17th, 2022


Theme:

Positive economic data and bullish rotation.


Overview:

A new or prominent high marking a reversal is in the pre-market. We revisit an opportunity at support in the first half hour. There is a big move higher out of that support between roughly 10am and 11am. This is marked by an opportunity involving a sharp decline and courageous rally out of it between roughly 11am and 12pm. The end of a bullish trend takes place between noon and 1pm. An important technical indicator or technical price level is highlighted between 1pm and 2pm. We have a big move to the upside between 2pm and 3pm. Then a male leader, probably the President is highlighted in the last hour with some decline after reaching a resistance level we drop. It spikes higher to meet moving averages acting as resistance on the way down. There is a fast move higher in the post-market.


Around the high there is an opportunity to cash-in on some long positions. Around the low we are going to have three pokes through resistance and a failed poke on the third attempt. We drop from that.


Sneak Preview:

There is sideways-S resistance and support with two declines and an incline in between.


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