SPX Weekly Forecast 14-18 November 2022

SPX Weekly Forecast 14-18 November 2022

Currently the implied volatility for this asset is around 3.12%, down from 3.33% of last week.
From volatility percentile, point of view, we are currently on 65th from ATR and 51th from VIX index.

With this volatility percentile values into account we can expected on average that the weekly candle is going to be:
2.86% for bullish
2.73% for bearish

With the current IV, we can expect with a 75.7% probability that the market is not going to close either above or below the next channel:
TOP: 4116
BOT: 3851

Lastly, based on previous calculations, we have:
79% to hit the previous weekly high of 4014
26% to hit the previous weekly low of 3738