S&P500 Forecast for Wednesday, April 20th, 2022


Theme:

A ruler of nations is highlighted with an opportunity to close some positions. A sudden move higher out of rotation.


Overview:

We will have an opportunity to cash in at a high. We have sideways rotation along support right around the open and then we push higher from that support to meet another in the first half hour. We go back and forth in the following hour and then we have sideways fluctuation along support that gains momentum and becomes more of a rally. This rally has sideways rotation and continues until 1pm when it pushed to the upside before 2pm. We have a notable trough that forms towards the end of the day in the last two hours, likely between 2pm and 3pm. There is a big push higher to successfully create support out of old resistance in the last hour of trading. There is a really big move to the upside right around the close. The male ruler is highlighted towards the end of the day and there is a move higher and an opportunity to cash in on long positions. We revisit important resistance in the post-market.


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