Analysis of the S&P 500 index: The big game begins…

What’s on the market now:

Today the index is trading at the level of 3828. Yesterday the market continued moving towards the level of 3820-3845, which I wrote about earlier. However, at the moment, I see all the signals for a market reversal and its movement to the level of 3440. Like yesterday, today a lot will be decided by the election result, but at the moment there were already sales in Europe and Asia. The market reacts negatively to the elections, as I expected. Large and medium-sized hedge funds are shrinking their portfolios, increasing volatility. However, such actions may provoke a sell-off in order to diversify risks for clients. What is likely to cause a sharp movement to the level of 3440 and below.

What today:

Today I expect the index to move to 3750, however, if the fall accelerates, then all long positions should be closed. There is also a possibility of a sharp movement of the market to the level of 3660.

Here are my trading recommendations for today 11.09.22

What I recommend:

• If you want to open a short position:

Short positions are possible from the level of 3830-3850. But you can also try to open a position in the market, limit your losses.

• If you want to buy:

Long positions are prohibited, the market is likely to fall sharply to the level of 3440.

• If you are not in the market:

Today, as yesterday, long positions are prohibited, limit your losses. If you want to open a short position, then it is better to do it from the level of 3830-3875, limit your losses.

But if you see anomalous behavior in the market, like a sharp rise, then it is better to stand aside, although the potential for growth to the level of 3970-4050 remains, but at the moment such an event is unlikely.

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