SP500 Technical Analysis ES1! futures S&P 500 Index 2-22-23
What’s on the market now:
Today the S&P500 (ES1!) is trading at 4000. Yesterday in the market we saw the fall of the index that I mentioned earlier. The index reached its target level at 4027-4002. Now the market is in the decision-making zone. I expect an attempt to stabilize the market and the growth of the index to the level of 4045 and above. However, if this attempt is broken at the level of 4045, we will see a further decline in the index to the level of 3973 if this scenario is realized, then the bottom will be on February 27th.
If you haven’t seen yesterday’s index analytics, you can read it here.
What today:
Today, at the beginning of the trading day, I expect the index to attempt to stabilize and return to the level of 4045. However, if this attempt fails, we will see the index decline to the level of 3975-3945.
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