S&P500 Forecast for Thursday, June 9th, 2022


Theme:

Crossing back and forth three times through the same price level, confirming a bullish trend.


Overview:

We have a similar low to yesterday and an opportunity to cash in in the midst of crisscrossing right here around the open. We move higher along diagonal trend line, breaking through horizontal resistance to meet a second resistance before pulling back to somewhere between the two. There is a big move out of a low in the first half hour, and it looks like we fall pretty hard from a high that takes place midday. There is a notable decline that happens after three crisscrosses through a price level. We meet a second support, breaking down through it and bouncing along that and then breaking down through multiple others. We have another crisscross that takes place roughly in the last hour. That third cross is in the last hour, and we have a move higher, but it is cancelled out by almost a full retracement. We reach a day’s low in the midst of some decline with spikes up on the way down. There is a failed attempt to break through resistance in the post-market.

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