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S&P 500 Forecast for Monday, October 11, 2021

Updated: Oct 3, 2022

Overview:

We have the completion of a sharp decline at the end of last week, and we most likely have a gap down or sharp decline at the open for today. There is a sudden, big move higher at the end of a period of volatility in the pre-market. Right at the open, there is a completion of a trend. A male ruler, most likely the President, is highlighted, which creates a waveform. We go up, down, and then at the open we repeat that. We then have a high around 10:00am and a notable crest or high around 1:00pm-2:00pm. We have a rally that moves to the upper end of a range at a resistance as we move to the close.

We have the waveform around the open that goes up and down, bringing it back to even. Then we have a failed test of a resistance level and/or a decline of support that takes place between roughly 10:00am-11:00am. There is a sharp decline roughly between 11:00 and noon, which will be an opportunity to place a trade and sell my short positions. There are definitely wild swings right around the open and around 10:00am.

Then we have a move higher out of that sharp low, and there is a move out of that between noon and 1:00pm. This move takes us into a high between 1:00pm-2:00pm, and then we swing and/ or dip out of that high. We decline hard through multiple support levels, and we have some sideways back and forth swings in the last hour. The overall trend will be a move higher and we will be bouncing up against the resistance level as we close. It looks to me like there is some sort of decline and we push higher in the post-market. We must hit that resistance and then decline for a bit, then push out of it.

Behavior at the Lows:

This will be at the open, again between 11:00am and noon, and a notable trough at the end of the day. There will be some crisscrossing through the same price level back and forth three times.

Looking to Tomorrow:

A sharp decline.