S&P 500 Forecast for Tuesday February 15th, 2022


Theme:

Decline through support and bounce back.


Overview:

We have a notable price level in the pre-market with an opportunity right around the open to open long positions. We have a rally that forms as a result of some happening in the first half hour, creating an opportunity to position oneself on both sides of the market between roughly 10am and 11am. From 11am to 12 we have a period of price swings with a sharp decline in the midst of it. In the following hour we have an irrational move higher to a distant resistance level that we already established. Then we have the Indolence card, and from that peak we decline and do not revisit that price level within the time frame of this day. The President or a male leader is highlighted between 2pm and 2pm. I am advised to be prudent since there could be a false bottom or indication. We have a rally that forms in the last hour, marking an opportunity to open some short positions or protect long positions. In the post-market we have a move higher to successfully create new support from old resistance. We have a selling off around the high form almost overbought territory. Also, there could be a big move from the low, possibly even to a short squeeze. Around the close we have three failed attempts to break resistance before we drop.


Sneak Preview:

Breaking down from a rally through a diagonal trend.


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