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S&P 500 Forecast for Tuesday, May 11, 2021

Updated: Aug 8, 2022

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

The overall theme for the day is the first phase of completion, [continued progress] AND/OR [mergers and acquisitions]. Overall activity of the S&P 500 for the day will be that of bullish rotation. In the premarket bad news that produces a temporary financial crisis [having to do with unemployment] AND/OR [having to do with heavy debt] is highlighted. Sideways bearish rotations reflect the Streets nervous sentiment as investors brace for tough times. Right around the open [the improbable happens] AND/OR [a turn for the better] causes the S&P 500 to sore reaching for a high. [A short lived peak] AND/OR [a new all time high] form in the first half hour of trading when the big move higher around the open breaks out through a resistance line to reach a notable peak before falling back down through the same line. This decline to the low which forms right around 12:00 PM is contained within a brief holding pattern while the street awaits a definitive choice made by [2 entities] AND/OR [2 leaders] with life altering implications. From roughly 12:00 PM through 1:00 PM equal and opposite moves cancel out each other creating a wave movement covering much ground yet returning to the same level as the wave began between roughly 1:00 PM and 2:00 PM. The S&P moves higher bumping along at least one resistance level eventually a day's [high] AND/OR [crest] forms between the hours of 2:00 PM and 3:00 PM when stocks plunge in a very strong decline from the [high] AND/OR [peak]. In the last hour of trading there's a strong decline. Right around the close a dip followed by a rebound back to roughly the same level from whence it dipped is exhibited. In the post market the resistance level is pierced creating a peak and then the S&P 500 falls back below the same level. Screeching another day's low.