S&P500 Forecast for Friday March 4th, 2022


Theme:

A very important price level is highlighted.


Overview:

We start out in the pre-market attempting to establish support. Right around the open we have the completion of a bullish trend. There is a selling from an overbought crest in the first half hour. We are range bound from 10am to 11am. There is a sharp dip within a period of volatility between 11am and 12pm. We have a fast sudden move higher that marks the end of a period of decline in the following hour. We have a sharp decline through multiple support levels. This is one of the biggest decline cards, and it is followed by a big rally that gains momentum as we move forward in time from 2pm to 3pm. Then we have another big move downward, and we revisit a support level. This is the Knight of Disks from earlier in the day. We have Congress or a foreign government agency highlighted in the post-market.


There is a surprise disappointment around the high, and something that we were expecting to happen does not. There is a sharp decline through support. Around the low there is an opportunity within some volatility to open a position on both sides of the market.


Sneak Preview:

We have a big bullish day.


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