Analyst of the spx 500 index on 06/30/22. Today we are here to talk about the SPX 500 index.
What’s on the market now:
The index is trading at 3818. In the previous trading session, we saw price stabilization. However, in my opinion, although the correction actually took place from the last local maximum, the correction has not yet reached its local bottom in the region of 3780 – 3750.
Today we are waiting:
Today, I expect the market to decline to the 3780 – 3750 zone. We may see an increase in the market decline, but if the market can turn around and the correction is broken, then the market will continue to rise to the level of 4050.
What I recommend:
If you want to go short:
It is too early to open short positions now, it is better to open them from the level of 4050, limit your losses.
If you want to buy:
It is better to refuse to buy the index and stocks now, the index has not yet reached its bottom in the region of 3750 – 3700.
If from the level of 3750 – 3700 there is a positive mood in the market, then you can buy, limiting your losses.
If you are not in the market:
If you are out of the market. I recommend that you try to go short around 4050. But if you want to buy, then I recommend that you go long from the 3700 level. Remember to always limit your losses.
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