S&P500 Forecast for Wednesday, April 27th, 2022


We revisit an important support level that was an opportunity. It doesn’t look like we have that there because it is nullified.


We have a rally that picks up momentum in the pre-market moving into the open. The rally continues and there is a failed attempt to break resistance and a trough right around the open. Then we move higher in the first half hour and there is a trough between 10am and 11am. There is also a notable move higher in that time period as well. There is a male ruler highlighted around what looks like a trade opportunity. This is likely a high for the day thus far, and we decline from that. I will purchase some calls around the end of the day on the 26th, and I will be looking to sell those right here where we have a decline commencing around noon at an important resistance level. There is volatility and a fast, sudden move higher within that period of volatility. That doesn’t hold and we drop and decline through that support to meet a second support and bounce along that until we break down through multiple support levels. As we move into the end of the day there is a notable push higher and a prominent crest somewhere in the post-market.

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