Attempt to take 3830-3845, the market is clamped in a vise.

Analysis of the S&P 500 index on 11.07.22

How many trades per week do you make?
1-2
50%
3-5
16.67%
7-10
16.67%
10+
16.67%

What’s on the market now:

Today the index is trading at the level of 3770. Last Friday we saw the index moving between the levels of 3660 – 3820, аs I mentioned earlier. As on Friday, the market still has the possibility of the index moving towards the level of 3830-3845. However, if this attempt is broken, then we will see the market pull back to the level of 3660-3630.

SNP 500 Index Analytics - 11-07-22 - 4h

What today:

Today, I expect the index to rise and try to rise to the level of 3830-3845. However, if there are large volumes on the market, then there is a possibility of a sharp movement of the market to the level of 3660 – 3615. And then we will see the index rise to the level of 3815.

SNP500 Index Analytics 11-07-22 - 1h

 

Here are my trading recommendations for today 11.07.22

What I recommend:

  • If you want to open a short position:
    Short positions are possible on a pullback from the 3830-3845 level, limit your losses.
  • If you want to buy:
    Long positions are possible from the 3660-3630 level, limit your losses.
  • If you are not in the market:
    Long positions are possible from the level of 3630 – 3660. Limit your losses. If you want to open a short position, it is better to do it from the level of 3830-3845.

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