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S&P 500 Forecast for Wednesday February 2nd, 2022

Updated: Aug 29, 2022


Decline through many support levels, possibly even 10.


Big move to the upside in the pre-market and another sudden move higher in the first half hour. There’s a new high and a reversal in the following hour, and a decline through support with sideways rotation between 11am and 12pm. Between noon and 1pm, we have a selling from a crest near overbought territory. In the next hour, we have some more bullish rotation and a move higher to reach the top of a range. From roughly 2pm to 3pm we have some selling from overbought territory. In the post market, we have selling back down to a support level that we hang out at.

Around the high we have full retracements from a move higher. Around the low we have a notable bottom.

Sneak Preview:

Sideways-S behavior with two declines and one incline, and a trade opportunity that involves a breakout.

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