S&P 500 Forecast for Tuesday February 22nd, 2022


Theme:

Sideways fluidity within a tight range.


Overview:

We have a fast, sudden move higher in the pre-market and a sharp dip within a period of volatility around the open. We reach a support level in the first half hour and we rotate around it. In the following hour we push to the top of a range and a bit higher and have a selling off. We can play both sides of the market between 12pm and 1pm, and between 1pm and 2pm we have headwinds that make us think the market is going down. Instead, it goes higher and we break through resistance. A male leader is highlighted and there is some selling down to a support and then back above it. In the last hour we bump against resistance and have a peak that forms around the close. We push through briefly before we come back down to the same price level. There is a rally that picks up steam in the post-market.


Around the high we have multiple false highs and then sharp declines. We have J-shaped dips and notable price levels around the lows.


Sneak Preview:

I am advised to trade around an opportunity to open long positions.


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