2 min read

S&P 500 Forecast for Wednesday, September 8, 2021

Updated: Oct 3, 2022

Performed by Kapproveb on September 2nd, 2021

Theme:

Significant fake out, shake out, or intentional misdirection. Takes place during a period of change in direction.

Overview:

In the pre-market, we have a trade opportunity at the low, followed by a high around the open. That pop higher to reach a resistance level is matched between 9:30am and 10:00am, with almost as big of a decline back down. We have some sort of crest or peak around 10:05am. I also see multiple failed attempts to breach resistance between the pre-market and noon. It looks to me as if we have another high between 11:00am and 12:00pm, around 11:40am. This high will be the highest high.

There is a strong reversal to a low, which will be the lowest, and then a rally out to reach a distant resistance level between 1:00pm and 2:00pm. We also see price fluctuation around this time, which is where I sense the fake out will be. We have that sharp decline around noon, that pop higher in the next hour, and then another crest around 2:00pm, followed by another spike, crest, or peak around 2:45pm. We enter the close while moving higher. There is an opportunity to open short positions or protect investments. There is a sharp decline in the post-market, either that or significant price swings. The low is formed based on a flight to safety.