Analysis of the S&P 500 (ES1!) index 01.20.23
What’s on the market now:
Today index S&P500, (ES1!) is trading at 3928. Yesterday the market stabilized and tried to rise to the level of 3960, which I mentioned earlier. At present, the market looks as if the correction has been completed. However, I believe that the current correction will end lower at 3860-3890. Now the market is not positive enough for active purchases. I think that the bottom of the correction will be reached on January 23-25. After that, the market will attempt a sharp rise to the level of 4160.
What today:
Today, at the opening of the market, I expect that the index will make an attempt to rise to the level of 3960. Where will the index turn and move to the level of 3860-3890. However, if this attempt is broken, we will see a sharp increase in the index to the level of 4160 and above.
We will most likely see a sharp down move after 3960. Be careful, limit your losses. My trading recommendations for today remain the same.
Here are my trading recommendations for today 01.20.23
What I recommend:
- If you want to open a short position:
Short positions are possible from 4160 level, limit your losses
- If you want to buy:
Long positions are possible from 3860 level, limit your losses
- If you are not in the market:
If you’re out of the market. Then you need the perfect price to trade. Long positions possible on pullbacks from 3860, limit your losses. If you want to open a short position, then it is better to do it from the level of 4160. Limit your losses.
Please note that my S&P 500 ES1! analysis is current as of the publication date. In fact, I am arguing that the analysis is correct only at the time of its publication and may be incorrect even a few hours after its publication. This is due to the fact that I analyze the trading volumes that are on the exchanges, and therefore it makes sense for you to follow me on Twitter. Or join my telegram trading channel.
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