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S&P 500 Forecast for Wednesday, April 14, 2021

Updated: Aug 8, 2022

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100% (9 correct statements out of 9 statements.)

The theme of the S&P 500 for today is the dramatic conclusion of a cycle through sudden and unexpected losses. The ending of a relationship or situation that was once relied upon, through treachery, misfortune, or back-stabbing. A Strong decline through multiple (10) support levels fueled by unexpected news is the overall behavior today. In the premarket there is a sharp dip AND/OR a notable price swing within a period of volatility. From the open mixed sideways bullish movement becomes a strong move higher eventually breaking a resistance level before reaching a peak around 9:50am-ish. From this peak a very strong and sudden decline to the day’s first low takes place in response to bad news involving congressional legislation AND/OR involving a large institution(s). Satisfactory economic data suggests continued growth and from this low sideways bullish rotation is exhibited as investors position themselves to protect their gains. Between around 12pm and 1pm est there is a notable drop followed by flat behavior on low volume. From 1pm through 2pm est the S&P exhibits a holding pattern until a critical choice is made. In the face of seemingly overwhelming headwinds a strong rally breaks out of this holding pattern between roughly 1:30pm and 3pm est. From this rally a decline off of a peak trades place moving into the close. Right around the close there is a decline into a reversal off of support is followed by a rally back to a reversal off of resistance, and then another decline to the same support level. Fear and confusion cause price fluctuations AND/OR a temporary decline in the post market.

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