S&P 500 Forecast for Thursday February 3rd, 2022


Theme:

Congress is the main focus.


Overview:

An agreement between two leaders causes a sharp decline based on multiple headwinds in the pre-market. We have an opportunity in the first half hour to open short positions in a rally. We can sell into the rally between roughly 10am and 11am since that takes us into overbought territory. We have a male leader highlighted between 11am and 12pm with a sharp decline through notable resistance. Between noon and 1pm we have a breakout through notable support. Between 1pm and 2pm there are sideways price swings and a female leader is highlighted. There is a sharp decline in the midst of volatility based off of a decision that took place. In the post market we have a sharp decline through many support levels, possibly 10.


There are sharp declines off of the highs and big declines into the lows.


Sneak Preview:

Decline to a support level that we bounce around and then break through.


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