S&P500 Forecast for Thursday March 17th, 2022


Theme:

Notable volatility and opportunity to position oneself on both sides of the market.


Trade Opportunity:

Around a big move to the upside, possibly due to being oversold.


Overview:

There is going to be sideways fluctuation with a bullish trend in the pre-market. Around the open there will be an agreement between two leaders and a sudden fast move higher to mark the end of a period of volatility in the first half hour. In the following hour we have a move through resistance and we stay above it briefly before falling back down. We have a sharp decline from roughly 11am to 12pm. We move higher from the low to end a trend in the following hour. Then we have more volatility and we meet resistance at the end and pullback to the upside. We have a resistance level that we meet and then increasing volatility as we move forward in time. THat takes place between roughly 1pm and 2pm. Between 2pm and 3pm there is a big push to the upside. In the last hour of trading we have a breakdown through diagonal support. Around the close we have a prominent move higher followed by a sharp decline in the post-market due to multiple headwinds.


Around the high we will fall to a support level and move sideways. Around the low there will be a sharp breakdown through key support to reach the low.


Sneak Preview: A big move higher followed by an equal move lower, back to the price level from which it started.


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