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S&P500 Forecast for Monday, June 27th, 2022

Updated: Sep 5, 2022


Theme:

Decline through an important support level off of a high with consecutively lower spikes to reach resistance at moving averages on the way down.


Overview:

In the pre-market we have a U-shaped dip near intersecting perpendicular diagonal trend lines. There is an important price level highlighted right around the open, and then a crest is revisited. We go from a trough around the open or in the pre-market to a crest in the midst of some back and forth behavior across a price level in the first half hour. I’m advised to be prudent, possibly because of multiple false tops or some sort of trickery between 10am and 11am. There is a trade opportunity right at 11am, and it looks like it is at a high. Then we have a notable drop around midday with a push back to another crest or high here between 1pm and 2pm. There is a bit of a breakout there and an opportunity to position oneself in both directions here. There will be a significant moment toward the end of the day, a piece of news comes out around 2pm or 3pm and there is a bit of a rally. There is another crest or bumping along resistance with price swings right around the close, and there is another trough around the close.



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