S&P 500 Forecast for Thursday February 24th, 2022


Theme:

An important range is highlighted.


Overview:

We have an unexpected failure in the pre-market and bullish rotation with a notable move higher in the first half hour. There is an opportunity around the open to open long positions and buy calls. Then we have a big move higher to push to the top of a range between 10am and 11am. In the following hour we have a retracement and three failed attempts with a sharp decline after the third failed attempt to break through resistance. Between 12pm and 1pm there is a big move to the upside. There is a courageous rally out of a decline between 2pm and 3pm. Then we revisit a support level in the last hour of trading. There is sideways fluidity in the post-market.


Around the high we break through resistance and turn that into new support. Around the low something improbable and lucky happens; a sharp move higher within a period of volatility.


Sneak Preview:

A big move higher marking the end of a decline.


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