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S&P 500 Forecast for Thursday, May 6, 2021

Updated: Aug 8, 2022


81% (9 correct statements out of 11 statements.)

Extreme greed and the absence of reason are the theme for today. Sideways bullish price swings are exhibited in the pre market. Right around the open the completion of a bullish trend is marked by a sharp decline through support. Between the open and roughly 10:00 AM I am presented with an opportunity to open bullish positions while the market is still fearful. Within the same first half hour of trading there is a sudden and notable move higher leading to 3 failed attempts at breaking through resistance line around approximately 10:00 AM through 11:00 AM. A small period of [flat sideways movement on low volume] AND/OR [a sharp decline] takes place between roughly 11:00 AM and 1:00 PM. With the sharpest part of this decline leaning towards the 1:00 PM mark. Between roughly 1:00 PM and 2:00 PM another day's [crest] AND/OR [high] forms between approximately 1:00 PM and 2:00 PM when there's another sudden and strong move higher out of a sharp decline. Congress is also highlighted around this time. Between roughly 1:00 PM and 3:00 PM there is [a bullish rotation] AND/OR [a holding pattern] as investors wait for congress to make a resolution. Positive economic data is also highlighted around this time. In the last hour of trading an important milestone is [reached] AND/OR [confirmation of the bullish trend is exhibited] when sideways movement crosses the same support resistance line 3 times. Right around the close I am presented with an opportunity to take a balanced strategy through opening and closing positions, through hedging or through certain options strategies. In the post market a move higher transitions into bearish rotation. Also of note is that the highs and lows of the day transpire roughly within the same hour of each other in both cases. There will be a full retracement from a low to a high and vice versa ending the day at roughly the same levels as where it started. Get the full report a day in advance as a free member of

#AstroOpportunityWindow Begins5/6/21@10:34pm est. Finishes5/7/21@3:36am est.


Initial jobless claims down 92,000 to 498,000
Yale's David Swenson died after battle with cancer; U.S. weekly jobless claims at 498,000 last week
Uber CEO on Q1 results his view of the economic rebound; Relying on the Stiglitz 'Little G'
Stiglitz: nowhere safe until everywhere safe
(UBER), Uber CEO on Gig economy Biden blocks Trump-era contractor rule
Uber CEO on driverless cars, how long will they're on the streets?; Gerberding: vaccine manufacturing
(ZNGA), (DRI), (PTON), Bank of America downgrades Peloton, slashes price target
Continuing claims 3.690M vs. 3.653M last week; Gearing up for the payrolls report
Futures fluctuate ahead of the open
(PFE), (BNTX), (MRNA), (JNJ), (AZN), Pfizer CEO: waiving vaccine patents makes "zero sense"
Viacomcbs adds 6M streaming subs in Q1, reaching 36M total; Futures fluctuate ahead of the open
Futures fluctuate ahead of the open
(XOM), Dow up for 4th day; Stocks to watch at the open
Vaccine makers' shares fall as U.S. backs patent waiver
Moderna CEO on patents: I didn't lose a minute of sleep during the night
Paypal CEO on crypto growth; BNTX, Biontech increases vaccine manufacturing capacity for 2021-2022
India reports record daily cases, deaths as oxygen demand surges; Sec's Gansler to testify at Gamestop hearing
General Atlantic's investing strategy; Bailey says Boe not forecasting disappointing economic outturn
(LOGI), Logitech less than 10% from Feb. all-time high; The global chip shortage
Stanford's study on the state of black business; SXXP
(IWF), New record highs: Masco Northrop, Pentair; SXP, Another jittery day for stocks
(PDD), (ATVI), (REGN), (TCOM), Dow hits record high; Sec S+Chair to testify at Gamestop hearing
(DRI); GME, Lawmakers address Gamestop drama
Dow hits record high; SPX, Lawmakers address Gamestop drama
USGG10YR, Gensler: Sec to release report on trading frenzy by summer
Swiss gov't doubtful waivers will improve vaccine supplies
Return to pre-pandemic levels rebound powered by consumer spending; INDU
Regulating Bitcoin; Widespread U.S. immunity a challenge: poll
U.S. vaccine patent shock roils pharma
(PFE), (MRNA), (AZN), (BNTX), U.S. backs waiving Covid vaccine patent protections
Dow on track for 4-day win streak; Equity Index
(JNJ), Biden admin. supports waiver of patent protections for Covid vaccines; Another jittery day for stocks
Biden: would like to see corporate tax rate between 25% and 28%; (SQ), (ROKU), (BYND), (PLNT)
Stocks climbing into close; CCMP, investors worry about inflation
(DBX), (TRIP), FED: asset prices may be vulnerable if risk appetites fall; Peloton 3Q rev. $1.26B, est. $1.12B
Norwegian CEO on timeline to restart sailing in U.S.; NDX Index
(SHAK), Shake Shack EPS beats $0.04 adj. vs. ($0.09) est; Ark flagship fund under pressure
The tug-of-war in tech high-flyers falter as value soars; Peloton's digital growth explodes
Patent problems? trading vaccine makers; ATVI, Markets hard to impress on earnings
Turning the corner? With Covid deaths declining, Cramer's taking a look back at the year that was & what lies ahead
Ally N.Z. says differences with Beijing harder to reconcile
Papa John's delivers - Cramer's slicing into the earnings report with the CEO
There are more than 4.5m sellers on Etsy; H.K. billionaire Li Ka-Shing bets on southeast Asia's tech startups
Etsy CEO on the Power of Influencers; MQG AU, Macquarie to take conservative approach to capital
Nintendo warns chip crunch may hit switch
Cramer: I think you can buy Caterpillar because they have told us they are not in trouble with raw costs



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