S&P 500 Forecast for Wednesday February 23rd, 2022


Theme:

Treachery and trickery.


Overview:

Congress is highlighted and we have bumping along resistance in the pre-market. We have a reversal right around the open and an upside down J-shape rally. We move higher and have a bit of a retracement that marks an opportunity in the first half hour. The Fortune card is also an opportunity card and we have two Aces for volatility. We meet resistance and start to decline with increasing volatility between 10am and 11am. In the following hour we have two declines and an incline in between. From 12pm to 1pm we have a big move to the upside. From 1pm to 2pm, we decline to a support and then have sideways rotation and multiple failed attempts to break resistance. From 2pm to 3pm there is sideways fluidity. Into the close we have equal inflow and outflow, as well as a decline while bumping against moving averages.


Around the high we have sharp moves to the downside and around the low we have a big move higher.


Sneak Preview:

We revisit a crest that is an opportunity around price swings.


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