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S&P 500 Forecast for Wednesday, May 19, 2021

Updated: Aug 8, 2022


90% (9 correct statements out of 10 statements.)

The overall theme of the day is that of a trap and or intentional shakeout through the use of a sharp move countering the trend and falsely triggering an indicator. I advise myself to trade around a very strong decline from a peak. In the pre-market, investors seek clarity. This is reflected in the market by bearish sideways price swings. Within this period of price swings, a day’s high and a day’s low are both formed. Right around the open, bullish consolidation proceeds to confirm a breakout and a key resistance level is broken, creating new support. This suggests to investors a significant step towards higher levels. From the open through roughly 11 AM EST, overall increase and/or wild swings create a breakout through resistance to reach an additional resistance level at which point there’s a pullback. Around roughly 10 AM EST to 11 AM EST, another day’s high forms from a significant move higher out of a decline and it bumps along a resistance level. I advise myself that the main highlight of the day, to reiterate, that of a trap or intentional shakeout, is involved around this second high and/or crest. Between roughly 12 PM EST and 1 PM EST, a significant decline related to multiple headwinds transpires, moving through at least one support level to reach a day’s low. Between roughly 1 PM EST and 2 PM EST, bad news related to a longstanding, problematic relationship involving financial business or news from afar is highlighted around a decline after three failed attempts at breakout through resistance. Between 2 PM EST and 3:15 PM EST, another day’s low is formed. At this low, I advise myself to interpret this end of day low as an opportunity to open bullish positions. In the last hour of trading, a strong decline transitions into a sharp move higher. I advise myself to utilize this move higher right around the close of the day to close the bullish positions I had just previously opened and to open bearish positions right around the close. From roughly the close through the post market, another notable decline through multiple support levels fueled by unexpected news. I remind myself that a notable pivot point in tomorrow’s session is an opportunity for me to take profits and/or open additional positions.

#AstroOpportunityWindow Begins5/18/21@10:29am est. Finishes5/19/21@3:13pm est.

#AstroOpportunityWindow Begins5/18/21@10:29am est. Finishes5/19/21@3:13pm est.

#MoonEntersVirgo @4:59pm est.


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