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S&P 500 Forecast for Tuesday, April 27, 2021

Updated: Aug 8, 2022

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100% (10 correct statements out of 10 statements.)

A stalemate in negotiations and deadlock are the theme for today. In the premarket the S&P moves sideways bumping along an established support line. Around the open [a partnership] AND/OR [the strengthening of a relationship] AND/OR [a merger and acquisition] is highlighted. Right around the open a quick break through a resistance line followed by a decline back through the same line. From the open through approximately 10:30am there is mixed sideways decline with a notable move lower. Around 10:30am a moment the Street has been waiting for arrives when [economic initiatives are taken] AND/OR [legislation or policy decisions come to completion} and a sudden big move higher commences before 11am. From around 11am through 12pm policy changes continue to be the highlight as a bearish rotation increases significantly in volatility as the S&P 500 moves towards noon time. Around approximately 12pm while investors are still fearful I am presented with an opportunity to open bullish positions with the intention to close them as a day trade. Between roughly 12pm and 2pm a significant rally to a high/crest out of a period of volatility is exhibited. An opportunity to close out of my bullish day trades is presented before the rally ends. Between approximately 2pm and 3pm overly negative investors rotate from growth into safety and a decline to a support level transpires. What was cause for bullish sentiment is abandoned due to disillusionment and doubt; this is reflected In the last hour of trading as the S&P 500 breaks down through a support line. Right around the close mixed sideways bullish behavior [confirms new support] AND/OR [confirms a breakout.] In the post market there is a move higher breaking out through a resistance level.