S&P500 Forecast for Tuesday, June 7th, 2022


Theme:

Opportunity to position on both sides of the market.


Overview:

We have a high right around the open and then sideways rotation along support. There is a fast, sudden move higher in that rotation between roughly 10am and 11am. From that we drop sharply to revisit support that was an opportunity to open positions on both sides of the market. From roughly 11am to noon we have a notable move to the upside. From noon to 1pm there is sideways rotation along support and sideways rotation. Again, there is an opportunity to position oneself on both sides of the market. There is a prominent trough that forms between roughly 2pm and 3pm, and there is a move to the upside with some sideways movement and a bullish slant. In the last hour there is a trade opportunity and a sharp decline back to a day’s low or a prominent trough right around the close. In the post-market, there is a crisscrossing three times through the same price level, confirming a bullish trend. A piece of important news comes out either here or overnight. The lows toward the end of the day have to do with Congress.

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