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S&P 500 Forecast for Wednesday February 16th, 2022

Updated: Sep 4, 2022


Big move to the upside.


We have a sideways-S with an incline in the middle in the pre-market. There is positive economic data and some bullish rotation as a result right around the open. There is a move higher through resistance to create a peak, and then shortly thereafter, a breakdown through that same price level in the first half hour. There is an opportunity around there in the first hour and a half to open some short positions or protect long positions. From 11am to noon we have an opportunity to position oneself on both sides of the market. From noon to 1pm we have a selling out of a severely overbought territory. We sell off sharply from that, and from 1pm to 2pm we have a big move higher. From 2pm to 3pm we have a big move higher from the bottom of a range to the top of a range. Then something unexpected or improbable happens in the last hour. There’s a flight to safety and another big move in the post-market to create a higher top to a range.

There is a prominent decline from a peak around the high and some back and forth behavior around the low.

Sneak Preview:

Sideways fluidity in a tight range.

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