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S&P 500 Forecast for Thursday, November 24, 2021

Updated: Oct 3, 2022



Theme:

We have the Game card and the Ace of Swords. We have a local high correlation for the day.

The prior day closed with the Knight of Disks, and that is the theme card for the day. This could be indicative of some sort of economic happening.


Behavior Around the Lows:

Breakout.


Overview:

There looks to be a significant trade opportunity here in the morning. There’s fluctuation in the pre-market and at the open there is a sharp decline that continues through until about 11:15am. Then we have a move higher, and a higher correlator midday between 12:00pm and 1:00pm. This will be two equidistant moves that cancel each other out. We have a low correlator the following hour, and then a big push card there. We have a high, and it is a big difference from the low to the high.


We have a move back down to a trough, and then a push higher out of that low. The economic leader may be highlighted again, and then some fluctuation back and forth, with a high correlation to the prior day around 2:00pm to 3:00pm. Then we have the Disappointment card in the last hour. There is a bullish move at the close, with the Prudence card as well. There is an unexpected disappointment and a sharp decline.


Looking to Tomorrow:

Luxury, so selling to a support level.





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