Analysis of the S&P 500 index 12.16.22
What’s on the market now:
Today the index is trading at 3885. Yesterday we saw a sharp drop in the index on the market. We also saw a weak attempt to reverse the market at 3975. This attempt was unsuccessful. As I wrote earlier, if the attempt to reverse the index at the level of 3975-3950 is broken, then we will see a sharp drop in the index to the level of 3840.
Now I expect that the index will make another attempt to reverse from the level of 3840-3825.
What today:
Today, at the opening of the market, the index will try to rise to the level of 3935. And then it will continue to decline to the level of 3840-3825. Around this level, we should look for new opportunities to open long positions.
Here are my trading recommendations for today 12.16.22
What I recommend:
- If you want to open a short position:
Short positions are possible from the 3935-3950 level, limit your losses.
- If you want to buy:
Long positions are possible from pullbacks or from the 3825,3735 level, 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 pullbacks or from the 3825,3735 level. If you want to open a short position, then it is better to do it from the level of 4280. 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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