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S&P 500 Forecast for Tuesday, November 9, 2021

Updated: Oct 3, 2022

Theme:

The Indolence card, what is highlighted today is a high that will not be revisited within the time frame of the reading. It also correlates to the next day’s card theme card on the monthly overview. I would say that this is a significant high for the month (either from yesterday or today), and this will not be revisited for a significant amount of time, possibly the rest of the month, at least the week.

Trade Opportunities:

The trade opportunity will be around selling from a high, making money on the way down.

Around the Highs and Lows:

There is a strong decline to form the low, and the high forms from a big move higher.

Daily Overview:

We have some trickery in the pre-market. There is a big move to the upside and a U-shaped dip. They are also connected to the Devil card, indicating that there is an intentional shake out or break out, a false triggering of an indicator. It is designed to make people do something impulsive. In a moment like this, you should do the opposite of what you think you should do. At the open, there is a peak that forms and a selling off from that peak. Congress is highlighted in the first half hour of the day.

From 10:00am to 11:00am there is bullish behavior based on Congress and economics. We have some bouncing around a support with a bearish lean in the following hour. One of the day’s lows is in the pre-market, another is around 11:30am to 11:45am. There is a sharp decline between 10:00am and 1:00pm through multiple support levels. From 1:00pm to 3:00pm, after another day’s low, there is a move higher to establish new support. The day’s high is there around 2:00pm. There is a day’s low around 2:10pm, very close to the high.

There is a big push around 1:45pm, and then a drop coming off of a day’s high. This is all happening within the 1:30pm to 2:30pm time. There is also another day’s low correlated to the last hour and the Indolence card. That high that takes place in the 1:30pm to 2:30pm area will not be revisited within the timeframe of this reader. However, the last hour is also an opportunity to play both sides of the market. There is a day’s low there, and a decline from a high right at the close.

Looking to Tomorrow:

The Prince of Cups, a courageous rally out of a scary decline.