S&P500 Forecast for Friday March 11th, 2022


Theme:

Sideways decline and price swaying. A female leader may also be highlighted.


Trade Opportunity:

Around the big push higher to reach distant resistance.


Overview:

There is a big, fast, sudden move higher in the pre-market. Right around the open there is an important price level highlighted. We have a sharp decline from the open through multiple support levels in the first half hour. Then we bump along resistance, possibly breaking through it and meeting another to bump along. Between the 10am and 11am hour, we will be bumping along resistance. From 11am to noon we attempt to establish support. A male leader is highlighted around roughly 12pm to 1pm. We have a move higher off of the support, breaking through resistance and successfully creating new support out of it. Then we break down through that same price level with spikes on the way down that meet resistance at their moving averages. Between 2pm and 3pm we have back and forth movement. In the last hour it looks like we have bullish rotation along a support level. In the post-market we have a big move higher right around the close with even more of a push to the upside after. We could possibly move to the upper end of a range.


There are sharp declines off of the highs due to multiple headwinds. There are important price levels highlighted around the lows.


Sneak Preview:

Bumping up to a resistance and then breaking down with increasing volatility.


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