S&P 500 Forecast for Tuesday, September 22, 2020

Updated: Aug 1, 2022

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% ( correct statements out of statements.)

Day's Theme - A move against the going trend AND/OR a fibonacci retracement. The street sentiment is highly emotion which leads One to believe today's moves to be on the larger scale of a 1-day chart. In the premarket there is a decline off a high at a resistance level OR in the premarket there is a gap down to a support level which is tested at least 1-4 times before rallying until roughly 10am est. Between approximately 9:45am and 12:15am est. there is selling through the same support level that was previously tested. A notable move higher between roughly 11am to 12pm est. Between roughly 12pm and 1pm a female democatic leader in the Senate AND/OR in the House of Representatives is highlighted. Between 12pm and roughly 3pm est. this female leader reveals something hidden about a male Republican leader, most likely President Trump AND/OR a Male republican leader reveals something hidden about said Female democratic leader. As a result of revealing this secret AND/OR scandal there is a notable reversal and retracement off of a support/resistance/fibonacci level. Market finishes higher but off it's high. The close marks what will later be seen a significant turning point. In the postmarket there is strong emotionally driven move AND/OR emotionally driven price swings.

1-Day High - forms between the premarket and roughly 10am est. at a point where many indicators converge so that it is difficult to anticipate the market's direction.

1-Day Low - forms between roughly 12pm and 1pm est. AND/OR between the postmarket and roughly 10am est.

Planned Trades - Around the open AND/OR around roughly 12pm to 1pm est. there is a significant opportunity to open new positions. I have been advised to pay attention to SPY's behavior in the first 2 hours there may be a quick day trade opportunity available in two equidistant moves.

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