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S&P 500 Forecast for Thursday, April 1, 2021

Updated: Aug 8, 2022

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

An important milestone is reached while the S&P 500 moves sideways crossing support/resistance three times today. In the premarket there is a significant gap down AND/OR between the premarket and roughly 10am there is a big decline from the high reflecting that investors believe the high is already in. Behavior around the high will deceptively suggest a breakout or move higher by falsely triggering an indicator. Expect a notable move higher along a trend line around the open highlighted by a male leader in business or a male celebrity provides motivation. From that notable move higher a sharp dip occurs within a period of bullish market rotation. From roughly 10am through 11am there is an unexpected failure AND/OR a disappointment sending the S&P into a mixed sideways decline. Profit taking from the overbought crest takes place between roughly 11am through 12pm. Expect the unexpected and the improbable when opportunity knocks around mid-day between roughly 12pm and 2pm. A very strong decline to the day’s first low is exhibited from roughly 1pm through 2pm. At this oversold low there is a significant short squeeze that sends the stock into a big move higher. Around 2pm a precarious position is met and a failed attempt to breakout through resistance creates a crest that is followed by a decline through support level(s). This decline picks up strength as the S&P moves into the last hour of trading. In the final hour of the day there is a failed attempt to break resistance AND/OR a breakdown through support level(s). A crisis highlighted by a standstill in negotiations leads to a sharp breakdown through support levels. Around the close a support level is met and tested before moving higher. In the post market the low is revisited and shares move sideways on low volume.