Analysis of the S&P 500 index 12.28.22
What’s on the market now:
Today the index is trading at 3861. Yesterday at the open of the market we saw a slight increase towards the target zone, which I mentioned earlier at the level of 3887. However, as we see now, there are few participants in the market. And there are few volumes, but trade continues. Currently, the index is tight and we need to look for new trading opportunities. Now there are 2 important levels on the market: 3950 and 3730.
I still believe that the index will make one last attempt to rise to 3950. However, due to low volume in the market, it may do so from the 3820 level. At this level, you need to look for signals for a market reversal.
What today:
Today at the open of the market, I expect the index to make one last attempt to rise to the level of 3950. However, if this attempt is broken, then we will see a sharp drop in the index to the level of 3820.
Here are my trading recommendations for today 12.28.22
What I recommend:
- If you want to open a short position:
Short positions are possible from 3950 level, limit your losses
- If you want to buy:
Long positions are possible from 3820 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 are possible from pullback or from 3820 level. If you want to open a short position, then it is better to do it from the level of 3950. Limit your losses.
Please note that my S&P 500 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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