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S&P 500 Forecast for Wednesday, March 24, 2021

Updated: Aug 8, 2022

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100% (11 correct statements out of 11 statements.)

The theme for the day has to do with a male leader involving a big and carefully balanced judiciary decision. Law and order are highlighted throughout the day along with periods of declining rotation mixed with notable price swings that would standout when compared with surrounding days. In the pre-market there is a strong decline AND/OR a gap down. The first high/crest for today forms around the open which is when I plan to utilize the opportunity to purchase protection/open short positions while the market appears to be moving higher. From the open sideways bullish rotation is exhibited. Between roughly 9:50am - 11:15am that bullish rotation transforms into more greatly pronounced sideways price fluctuations with a notable move lower. The day’s first trough/low forms somewhere within those notable price fluctuations and reflects the fearful and paranoid sentiment on the Street. From roughly 10:50am through 1:15pm-ish bearish rotations becomes increasingly more volatile as the S&P moves lower eventually testing a horizontal support level. While bouncing along that horizontal support level investors’ sentiment shifts to a more forward way of thinking about policy AND/OR an actual change in policy. As demonstrations, protests, and possibly even some rioting is highlighted around the same time. Between around 1pm and 2pm there is a sudden, fast moving, and big move higher off of that horizontal support line which eventually forms the day’s second crest by transitioning into bearish sideways movement. From roughly 2pm through 3pm S&P behavior exhibits a significant move higher out of a decline as investor’s fear on the Street wanes. But the high for the day is already in and the temporary moment of enthusiasm becomes tension. From roughly 3pm into the close there is a sharp decline as it becomes glaringly apparent to investors that a bullish cycle has reached its conclusion. Around the close there is some bullish rotation involving satisfactory economic data (possibly to do with the airlines AND/OR travel.) If I choose to place trades today I will do so during moments of bullish rotations. The two highs/crests form on each side of a significant low. Should I see a highlight having to do with a merger of some kind, that will be a definitive signal for me to “execute my trades now.” The low for the day will form by a strong decline off of a high that breaks through support to meet another support. That high will not be revisited in the same day