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S&P 500 Forecast for Friday, April 23, 2021

Updated: Aug 8, 2022

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91% (10 correct statements out of 11 statements.)

Highlights for today involve financial prosperity and firm foundations, expansion of holdings, and risk on. The S&P 500 exhibits a strong rally throughout much of today. A high and low are both formed within the premarket when EITHER [a gap down followed by a significant move higher is exhibited] AND/OR [there is a significant move up and out of a strong decline.] A stalemate between a male and female leader is highlighted somewhere around the premarket through 10am-ish. Right around the open the S&P’s behavior is flat sideways movement on low volume that transitions into more pronounced bullish price swings before roughly 10am. Between approximately 10am and 11am a moment the Street has been waiting for arrives and from the bullish price swings a sudden and significant move higher suggests definitive optimism on the street. The optimism is short lived due to a stall in negotiations or a delayed decision. Between roughly 11am and 12pm the S&P drops off a high breaking down through at least one support level to meet the day’s second trough/low. From roughly 12pm through 1pm a noteworthy move higher out of a decline highlights an important decision. That move higher transitions into a bearish rotation as fear becomes tension. A leader in business provides the street with optimism and causes a notable move higher along a diagonal trend-line between around 1pm to 2pm. That move higher forms a high/crest from which the S&P plunges through multiple support levels between roughly 2pm and 3pm. In the last hour of trading [a short lived new peak] AND/OR [a new all time high] forms when a move up through a resistance line is followed shortly by a decline back down through the same line. In the post market sideways fluctuations reflect a rebalancing between inflow and outflow on higher than average volume. Get the daily S&P prediction in advance, only at www.TarotForTraders.com.