S&P 500 Forecast for Wednesday, September 1, 2021

Updated: Oct 3, 2022

Performed by Kapproveb on August 29th, 2021

Overview:

The overall theme for the day is a significant market failure. On the one-month overview, we have a significant drop. This is a trade opportunity. We also have our first local high for September. That drop will take us to the first major low of September.

Pre-market to 10:00am

We start out with a sharp move higher, somewhere in the pre-market as we move towards the open. There is an opportunity to take some profits around the open or just before, on the short side. But the high from which we fell is a significant high, as far as it is a local high for September. It then turns into a major low. We move higher in the pre-market, and there is an opportunity that we revisit around the open. Then we have a move higher through resistance, and then back down through that same price level, with it acting as support that we break through. It is a little pop above and then we come back down, taking place in the first half hour.

10:00am to Noon

We have a breakout, a change, some sideways fluctuation, and rotation. We then have a breakout through a resistance level, likely the one we just popped above. The breakout is confirmed through technical indication. However, the High card for the day is the Devil card. It is an intentional fake out. There is an intentional big move, counter to trend, and these computers are designed so that they can influence humans to do impulsive things. In this case, selling their best positions just before they would be valuable. They perform a shakeout by falsely confirming a breakout, taking place around 10:15am. Then there will be a rally higher until roughly 11:30am, at which point we will have our first main high for the day.

12:00pm to 3:00pm

There is a sharp drop from that high as people take profits. We break down through the support resistance levels, and we reach our first day’s low, right around 12:40pm. Between that low and 1:45pm, there is a notable move higher to reach almost the same high that we fell from earlier. There is then a failed test to breach resistance, followed by a sharp decline and breakdown through support. We then reach to a new low, roughly around 2:30pm and 2:45pm.

3:00pm to Post-market

We have another move, probably at a lower resistance since we have broken through supports, in the last half hour. There are three little pokes and then another sharp decline, right around the close. In the post-market, a female leader is highlighted. Something is being hidden, and the past could give us a hint to what it is. In the post-market there is a valley. It will look like a drop, then a rebound to roughly the same level. We have a trade opportunity tomorrow, the 2nd. The victory card in the low position is nullified, showing that we have a much further way to go. This is probably a sharp drop.