S&P500 Forecast for Wednesday March 2nd, 2022


Theme:

We are range bound.


Overview:

In the pre-market we have bouncing along a support level, possibly some good economic data. It looks like we have a significant decline. Right at the open there is an opportunity to open short positions and protect against long positions. We could also buy some puts as well. Since it is the Indolence card, we are not going to see this level again within the timeline of this reading, so for the rest of the day. There is an important price level highlighted around 10am to 11am, and a trade opportunity between 11am and noon and a U-shaped dip. We have a significant trough for the day, an extension, and volatility picks up as we move from 2pm to 3pm. We have a sharp decline from 3pm to 4pm. In the post market, there is a move higher out of a sharp decline and there is a trade opportunity in the midst of that decline.


Right around the close, we have a big move higher to reach the high, so it looks like we probably gap up because of the Aeon card. We make it to the top of a range and since we are range bound, we likely fall. There is a surprise disappointment and failure and we break through resistance and then decline through support into the low.


Sneak Preview:

We have some sideways fluidity, as well.


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