Analysis of the S&P 500 index 11.22.22
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What’s on the market now:
Today the index is trading at 3949. Yesterday, as I expected, we saw an attempt to increase the index at the market opening, i mentioned earlier. However, there were few volumes on the market and they were enough to maintain and stabilize the index. Thus, yesterday’s attempt to grow was not realized.
And so today the market will have another chance for the growth of the index. However, today in the morning the situation on the market is different than yesterday. Many market participants saw the weakness of the market and the hesitation of buyers. This will be a signal to experienced players to reduce their positions if the index fails to grow. This will cause the index to drop sharply.
What today:
Today at the opening of the market, rates are rising, the market is expected to be likely to move sharply. The index will have one last attempt to rise to the level of 4110-4150. However, if this attempt is broken, then we will see a sharp drop in the index to the level of 3860 and below.
Here are my trading recommendations for today 11.22.22
What I recommend:
- If you want to open a short position:
Short positions are possible with a sharp move down. You can go short if the market goes down sharply, but limit your losses.
- If you want to buy:
Long positions are possible with a sharp move up. You can go long if the market goes up sharply, but 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 3860, limit your losses. If you want to open a short position, then it is better to do it from the level of 4110, 4250. 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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