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S&P 500 Forecast for Wednesday, May 12, 2021

Updated: Aug 8, 2022


91% (10 correct statements out of 11 statements.)

The overall theme and behavior of the S&P 500 for the day is that which was worked for is attained. Financial outlook looks good. Technicals will be that of a decline off of a high. Support is found and tested in the premarket before moving higher. Right around the open there's an unexpected change causing the S&P to plunge suddenly. The sudden plunge right around the open causes [price fluctuations] AND/OR [a temporary decline] between the open and roughly 10:00 AM. Between roughly 9:45 AM and 11:00 AM an important milestone is reached when the S&P crosses the same support and resistance line 3 times. Between roughly 11:00 AM and 1:00 PM there's a bearish rotation significantly increasing in volatility. A new way of thinking about [a policy change] AND/OR [litigations] are also highlighted at this time. The second day's [low] AND/OR [trough] forms between 12:00 PM and 1:00 PM when the volatility transitions into sideways bullish price swings. Between roughly 1:00 PM and 2:00 PM those sideways bullish price swings transition into mixed sideways bullish rotation. Confirmation of a breakout when a key resistance level is broken creates new support within the same hour. In the last 2 hours of trading a sudden fast big move higher transitions into volatile sideways movement with the notable completion of a rally. Right around the close a notable [high] AND/OR [crest] is formed with the breakdown through a diagonal trend line. There is a significant move higher in the post market.

#MoonEntersGemini @8:43am est.


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