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

Updated: Sep 5, 2022


Notable move to the upside.


There is a fast, sudden move higher in the pre-market, and out of that, we have a selling from near overbought territory on the RSI. Early on, we have a notable trough and then the start of a rally in the first half hour. We have a high correlator in the first hour and a half after a breakout, and we should reach a high at a resistance. We decline with increasing volatility, starting roughly around the 11 am to noon hour. This move higher will be notable, and there will be a lot of movement midday. We have a selling from a price level that we will likely not revisit on this day. We sell from that crest and move through support. There is a crest that forms between 1 pm and 2 pm at resistance, and then we decline from this with increasing volatility as we move lower into the end of the day. There is a fake-out of some sort in the last hour and it looks like we move lower. There is a failed attempt to break through key resistance, followed by a decline through key support that transpires right around the close. There is a move higher out of a low or trough in the post-market

















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