SP500 Technical Analysis ES1! futures S&P 500 Index 3-15-23
What’s on the market now:
Today the S&P500 (SXP) is trading at 3919. Yesterday we saw the market move towards the expected target zone of 3929 and then the expected rebound of the index that I mentioned earlier. Today I expect that the index will make the last push up to the level of 3983 and above. However, if this attempt is broken, we will see a sharp decline in the index to the level of 3761.
Now much will depend on the decision of the Fed. If it is positive, we will see the birth of a new trend.
If you didn’t see my analysis yesterday, you can check it out here.
What today:
SPX on the charts today: At the open of the market today, I expect the market to try drop to 3836, where there will be an attempt to reverse the index, the target of buyers in this case will be the level of 4094. However, if this attempt is broken, we will see a sharp decline to the level of 3761.
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