Analysis of the S&P 500 (ES1!) index 2-2-23
What’s on the market now:
Today index S&P500, (ES1!) is trading at 4153. Now globally the market is going to the level of 4310. As I expected yesterday, the market bottomed out before the Fed’s decision at 4050, from where it started its sharp rise. I was expecting a more interesting game than the one we saw yesterday.
OK, now the market is in a phase of steady growth, where there will be small rollbacks caused by profit taking. One of these could happen today with the market dropping to 4125-4115. Where there are many buy orders from medium-term traders. After that, the index will continue its growth to the level of 4193, where there will be profit-taking from medium-term investors.
If you haven’t seen yesterday’s index analysis, you can check it here.
What today:
Today at the opening of the market, I expect that the index will make an attempt to grow to the level of 4195. Where will the stabilization in movement begin with a slight decrease in the index to the level of 4160.
An important level for making trading decisions today can be level 4125-4115. Where are the orders to buy from speculators. Medium-term investors will fix their profitable positions at the level of 4200.
Here are my trading recommendations for today 2-2-23
What I recommend:
- If you want to open a short position:
Short positions are prohibited, limit your losses
- If you want to buy:
Long positions possible on pullbacks from 4125-4115, 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 possible on pullbacks from 4125-4115, limit your losses. If you want to open a short position, then it is better to do it from the level of 4310. Limit your losses.
Please note that my S&P 500 ES1! 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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