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S&P 500 Forecast for Thursday, April 22, 2021

Updated: Aug 8, 2022

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92% (11 correct statements out of 12 statements.)

Fear of the unknown, paranoia, and confusion are today’s theme. Overall behavior of the S&P 500 is [fluctuation] AND/OR [decline.] In the premarket there is [a new high] AND/OR [there is a revisiting of a recent new high.] A reversal is also highlighted at this time. Congress is highlighted in between roughly the premarket and the open and causes a sudden plunge off of a peak to eventually form the day’s first trough/low. Around 10am through 11am a trial by fire leads to a bullish rotation into defensive positions and to a notable crest or notable high. Something that was intentionally hidden surprises investors roughly between the hours of 11am through 1pm and causes a decline that rebounds back to around the same level as where it started; creating something like a “U” shape. Between approximately 12pm and 1pm there is a notable pivot and end of a bearish trend forms. Within the same hour as the pivot destruction comes new hope reflected by a huge move higher out of the day’s second notable trough/low. Within 30 minutes of 1pm EITHER [the powerful midday rally breaks out through a key resistance level confirming an upward trend and creating a new high] AND/OR [the powerful midday rally bounces along a new support line after breaking through that same line’s resistance.] In both of the aforementioned cases a bullish rotation sets in between roughly 1pm through 2pm. Within the hours of 2pm and 3pm the S&P fulfills expectations of classic technical analysis around the intersection of multiple lines (Ie; trend, support, resistance, diagonals, etc.) In the last hour of trading bullish movement bounces along a resistance level(s) eventually transitioning into more prominent bullish price swings right around the close. Economic support AND/OR environmental issues are highlighted around the close. The market moves higher with a significant move in the post market.