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S&P 500 Forecast for Wednesday, April 28, 2021

Updated: Aug 8, 2022

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92% (11 correct statements out of 12 statements.)


The theme for the day is an opportunity to take a balanced strategy through opening and closing positions, [hedging] AND/OR [certain options spreads]. In the pre market there is an intentional fake out and a daring move higher in the face of seemingly overwhelming headwinds intended to cause impulsive decisions through convolution and deception. Right around the open the S&P 500 bumps up against resistance or bumps up along resistance. An economic leader provides support and economic security are the main highlight moving out of the open through roughly 10:00 AM. This is paired with bullish rotation with a significant move higher. From roughly 10:00 AM to 11:00 AM there is an opportunity presented to me during a strong decline. From the decline between 10:00 AM and 11:00 AM there is a rally and a new high is reached between 11:00 AM and 12:00 PM followed by a big decline off of the high. Its first high is formed when the S&P moves through a resistance level followed by the big decline off of the high which goes back through the support/resistance level which is the same line. From that big decline and between roughly the hours of 1:00 PM and 2:00 PM there is another rally back through the same support resistance line that was already crossed twice to reach a high again. Between roughly 2:00 PM and 3:00 PM there is [a sharp dip] AND/OR [a period of extreme price swings] within an already volatile market. In the last hour of trading there's [a holding pattern] AND/OR [congress is highlighted] involving government aid and assistance. Right around the close there are sideways fluctuations. There is a notable pivot point in the post market. I advise myself to take profits and rotate into new positions around today's high. Today's high will be marked by crossing through the same support resistance line three times.





 


Pres. Biden's infrastructure push trillions in spending; who pays?; From rhetoric to reality
Earnings deluge continues FED statement also ahead; FOMC rate decision at 2pm ET
Slok: chance inflation could overshoot
Pre-market movers; CO1, Wallace: oil may not be part of supercycle
Futures under pressure follows mixed Tuesday session
(UPS), Earning deluge continues FED statement also ahead; Countdown to chairman Powell
Boeing shares dip CEO on Q1 results; Stocks to watch ahead of the open
(AMD), AMD shares rally CEO Lisa Su on Q1 results
(SBUX), Starbucks shares sliding CEO Kevin Johnson on Q2 results; Stocks mixed ahead of FED, Biden
Spotify CEO Daniel EK on potential bid for arsenal; Equity Index
(WM), Waste Management CEO on consumers; MTB US, Biden plans range of tax hikes on wealthy
(AAPL) Where's the growth story in big tech?
(MSFT), (GOOGL); SXXP, Northern Ireland's foster to step down as DUP leader on May 28
Bracing for Apple earnings, what's riding on the results
(FB), Facebook earning on deck, how to play the stock; Biden to call for stricter gun laws
(BA), (SBUX), (V)
3M CEOL higher costs impacting our business; Biden would end private equity break
RTY,FED strengthens view of economy while keeping rates near zero
FED: inflation has risen largely due to transitory factors
FED chair Powell holds news conference; FED says financial conditions remain accommodative
Powell: not time to start talking about taper; Powell: near-zero rates appropriate until goals met
Powell: recovery remains uneven and far from complete
Powell: haven't had level of labor market scarring that was feared a year ago
Powell: workers scaricity due to skills gap, schools, retirements
(CVX), (AXP), (V), (DOW), (CRM), Powell: one-time price increases not likely to lead to persistent inflation
Powell: would take time to move inflation expectations up; Powell: economy is a long way from our goals
Powell: looking at run dynamics in money, corporate bond funds
(BP), (CVX), (COP), (XOM), Powell: expect more downward pressure on short-term rates
(QCOM), Qualcomm EPS beats $1.90 adj. vs. $1.67 est; Qualcomm reports earnings
(AAPL), Apple call underway; Big tech lifts benchmark
(FB), Facebook hits all-time high
Apple sales crush Wall Street estimates on surging device demand
Ford's Mustang Mach-E accounted for 100% of Tesla's share loss in February
YUM is up 8% year-to-date; Samsung May post at least 44% rise in 1Q profit YOY on strong chip and galaxy 21 sales
939 HK, China construction bank 1Q profit +2.8%
Cramer: during the earning gauntlet, traders are trigger happy and decide to follow the herd, whether right or wrong

#92%Accuracy




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