S&P500 Forecast for Friday, April 8th, 2022


Theme:

An important price level is highlighted, generally at resistance. It will be near where multiple lines intersect.


Overview:

We have a high correlator in the pre-market, Congress is highlighted right around the open, and there is a sudden fast move to the downside. It looks like there is possibly a big move higher right around the open, followed by a move downward before noon. There’s a trade opportunity around the open. We test resistance between noon and 2pm, and there is an opportunity in a crest between 1pm and 2pm. There is a rally and a retracement here so there is an opportunity to short. Between 2pm and 3pm we meet a low or an important trough from that retracement. Towards the end of the day, important resistance levels are highlighted. There is another important crest in the post-market.


Around the highs there will be notable rallies increasing in momentum. Around the lows we are going to be revisiting price levels that were old opportunities.


Sneak Preview:

Bumping along resistance at an important price level.



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