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S&P500 Forecast for Monday, July 11th, 2022


Theme:

Sideways price swings.


Overview:

Something unexpected takes place in the pre-market or overnight. It is a possible gap down and then there is a trade opportunity in the midst of a decline right around the open. There is a rally at the beginning of the day. In the first half-hour there is a move higher that continues through an important price level until about midday. It picks up steam and we push the upper end of a range midday, and we reach a day’s high. There is some sideways rotation midday and a failed attempt to break through resistance. Everyone is expecting us to break through and we fall through support. There is a high around the 2 pm to 3 pm hour.


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