S&P500 Forecast for Thursday, April 21st, 2022



Theme:

Rally that picks up momentum and incline as it progresses forward.


Overview:

In the pre-market, we have a pop through resistance followed by a breakdown through the same price level. Right around the open there is a trade opportunity in the midst of a pop higher but it doesn’t last. We move much lower in the morning and continue to break down between roughly 10am and 11am, until we move into a low. Somewhere around the non to 1pm hour there is an opportunity to open up some long positions and cash in on some short positions. Something that was previously unknown comes to light and causes a big move to the upside. There is an opportunity to close these long positions. Then we break down through multiple support levels and there is a scary decline in the last two hours. There’s an attempt to salvage the day in the last hour, and a fast, sudden move higher marks the end of a decline. However, this is a fakeout and we come off of a peak and decline into the close.


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