S&P 500 Forecast for Thursday, November 11, 2021

Updated: Oct 3, 2022

Theme:

Virtue, and generally speaking this is three crosses through a price level confirming a bullish trend, but it is nullified. The Victory card is here on the one-day reading, which is a breakout. The most important part of the puzzle is the end of the day.

Behavior Around Highs and Lows:

The High card symbolizes an opportunity to trade at a bottom and top. Basically, you want to buy into a decline and sell at a peak. The move off of the low is going to be very significant on a one-day chart. Very significant highs off of the lows.

Daily Overview:

There is a day’s high correlator in the pre-market and three failed pokes through a resistance level, followed by a decline. There is a big push to the upside right around the open, and a trade opportunity there, too. That is a push to a distant resistance level. The 9:30am to 10:00am card is the Ace of Swords, and it also is a correlator to the low. So, we will likely have a low going into the open followed by a big pop to the upside in the first half hour. This move will continue higher to reach a day’s high at roughly 11:30am. There will be some bouncing around here. We have a notable trough at about 12:10pm to 12:20pm.

There is a decline from roughly 12:00pm to 1:00pm through multiple support levels, and this is an opportunity to buy into the decline. At this same time, we have a breakout and another reverse clairvoyant impression, indicating bullish movement. There is a trade opportunity here at a trough within some back-and-forth movement around 2:00pm to 3:00pm. There is a bullish trend and right around the actual close there is a big move to the upside, but there is selling somewhere in that last hour where we pop up and form a peak, quickly falling back down. There is a trade opportunity around this high. There is a high correlator in the post-market.

Looking to Tomorrow:

The Valour card, which generally is bumping along resistance. It is bullish.