SP500 Technical Analysis ES1! futures S&P 500 Index 4-25-23
Today’s Market Overview:
Now let’s look what happened with the S&P 500 index yesterday. As I told you yesterday, the index made an attempt to grow, which was unsuccessful. After this latest attempt, the index headed towards the 4095-4070 levels.
Let’s take a look at this together once again. This is what I’m talking about specifically. At the beginning of yesterday’s trading day, we saw an attempt for the index to grow, which was stopped. Then the index headed towards the 4095 level, which corresponds to the trading scenario I discussed in my forecast yesterday.
If we look at the market on a larger scale now, the index is currently moving towards the 4095-4070 levels. This is where we should be looking for new opportunities to open long positions in anticipation of a sharp rise to the 4250-4310 levels.
What to expect today:
At the beginning of the trading day today, I expect the index to try to stabilize its movement before continuing a sharp decline towards the 4095-4070 levels. This is where we should be looking for new opportunities to open long positions. I believe that good opportunities for opening long positions can be found somewhere between these levels, possibly around the 4080 mark.
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