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S&P 500 Forecast for Wednesday, April 28, 2021

Updated: Aug 8, 2022

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

The theme for the day is an opportunity to take a balanced strategy through opening and closing positions, [hedging] AND/OR [certain options spreads]. In the pre market there is an intentional fake out and a daring move higher in the face of seemingly overwhelming headwinds intended to cause impulsive decisions through convolution and deception. Right around the open the S&P 500 bumps up against resistance or bumps up along resistance. An economic leader provides support and economic security are the main highlight moving out of the open through roughly 10:00 AM. This is paired with bullish rotation with a significant move higher. From roughly 10:00 AM to 11:00 AM there is an opportunity presented to me during a strong decline. From the decline between 10:00 AM and 11:00 AM there is a rally and a new high is reached between 11:00 AM and 12:00 PM followed by a big decline off of the high. Its first high is formed when the S&P moves through a resistance level followed by the big decline off of the high which goes back through the support/resistance level which is the same line. From that big decline and between roughly the hours of 1:00 PM and 2:00 PM there is another rally back through the same support resistance line that was already crossed twice to reach a high again. Between roughly 2:00 PM and 3:00 PM there is [a sharp dip] AND/OR [a period of extreme price swings] within an already volatile market. In the last hour of trading there's [a holding pattern] AND/OR [congress is highlighted] involving government aid and assistance. Right around the close there are sideways fluctuations. There is a notable pivot point in the post market. I advise myself to take profits and rotate into new positions around today's high. Today's high will be marked by crossing through the same support resistance line three times.