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S&P 500 Forecast for Monday, May 3, 2021

Updated: Aug 8, 2022

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90% (9 correct statements out of 10 statements.)

Change is the S&P 500’s theme for today; an equilibrium through fluidity. In the premarket there is a bullish rotation with a significant move higher as an economic leader provides a positive economic outlook. Right around the open I am presented with an opportunity to take profits around a high. An established support level is tested from around the open through roughly 9:50am. Around 9:50am the beginning of a significant breakdown through support transpires and relates to multiple headwinds. Between around 11am and 12pm there is a U shaped dip followed by a rebound back to the levels around where the “U” began. This U shaped dip creates the day’s first trough. Between approximately 12pm and 1pm a peak is formed when the S&P briefly pokes through a resistance level before falling back down through the same line. This peak markets a halt in the bullish trend characterized by a sharp decline through one or more support levels. Disappointment AND/OR delays are the highlight between approximately 1pm and 2pm as the S&P exhibits bearish mixed sideways behavior. I expect the unexpected transpires somewhere around 2pm through 3pm. I plan to act according to whatever impossibility becomes possible within that hour. In the last hour of trading a notable low/trough of the day is created within a holding pattern AND/OR within a bullish rotation. Congress/government aid is highlighted right around the close. Somewhere from around 4pm through the post market a short lived new peak or a new all time high forms when a move up through a resistance line is quickly followed by a decline back down through that same line. Get the edge, only at www.TarotForTraders.com (www.TheInvestorProphet.com May 11th).