S&P500 Forecast for Tuesday, June 21st, 2022


Theme:

Two big moves that cancel each other out.


Overview:

We decline from the first crest or high for the day. Right around the open, we have a notable decline that marks the day’s low. There is sideways fluctuation out of that decline with bullish trend to meet resistance. The volume kind of peters out at that resistance level. We have dropped and then we pop back up. There is a gap down for the day to start a possible trade opportunity between roughly 11am and noon. Then we have another big move to the upside to reach a day’s high midday. We have an almost irrational move to the upside, and there is a trade opportunity in the midst of that to open up protection. There may be another crest or high here. Towards the end of the day, there is a sudden dip within a period of volatility. We may revisit the day’s high but there is a decline in the last hour and we move sideways along support around the close. In the post-market, there is a trade opportunity in the midst of a sudden, fast move higher.


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