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S&P 500 Forecast for Tuesday, November 23, 2021

Updated: Oct 3, 2022


Bumping along one or more resistance levels.

Behavior Around the Highs:

Sharp dip within a period of volatility

Daily Overview:

There is a big move to the upside in the pre-market. There is a high correlator, trade correlator, and a U-shaped dip all overlapping on top of the open. We have some selling off to support in the first half hour, and some sort of fake out in this time. We have a move back higher, followed by an even higher move, taking us back to the same resistance level. This is right around 10:15am. News comes out around 11:00am, causing a fast move higher to a resistance level.

There are some very bullish moves here. There is one between 10:00am and 12:00pm, but there is also a sharp dip around 11:00am. There is another move higher to a high, upper end of a range, or resistance around 1:00pm to 2:00pm. There is a failed attempt to break resistance and/or decline through a support level from 2:00pm to 3:00pm. We have a significant move to the upside, and a male economic leader may be highlighted in the last half hour. Right at the close, we have selling from an overbought territory. What have a selling from a decline in what looks like the post-market or overnight.

Looking to Tomorrow:

The Sneak Preview card is a push higher out of seemingly overwhelming odds.



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