SP500 Technical Analysis ES1! futures S&P 500 Index 3-7-23
What’s on the market now:
Today the S&P500 (ES1!) is trading at 4058. Yesterday we saw the price move to the target zone at the level of 4080, which I mentioned earlier. The market is currently in a fixation phase. The current stabilization will last for some time point. Thus, I expect the development of a slight correction to the level of 4010.
As I wrote earlier, globally the market is in a strong uptrend, the growth of which will end at the level of 4310-4450.
If you didn’t see my analysis yesterday, you can check it out here.
What today:
Today, at the market opening, I expect that the market will begin profit-taking, which will be able to lower the index to the level of 4010. However, if this attempt to sit is broken, we will see a sharp increase in the index to the level of 4115 and above.
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