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



Theme:

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


Overview:

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.


13 views0 comments