Analysis of the S&P 500 index 11.28.22
What’s on the market now:
Today the index is trading at 4000. As I said in the last trading session, some experienced traders went short, creating volatility, and stopped the market. As I said earlier, the market will be heading towards the 4000 – 3970 level.
The current level of 4000-3970 will be the key moment when the market can turn around and move to the level of 4110-4150. However, if this attempt is broken, then we will see the beginning of a difficult correction, which, as I expect, will end at 3860. Well, for now, the market needs to make one last attempt to rise.
What today:
Today, I expect the index to make one last attempt to rise to the level of 4110. But if this attempt is frustrated, then we will see the index move to the level of 3945. And then the market may begin a complex correction.
Here are my trading recommendations for today 11.28.22
What I recommend:
- If you want to open a short position:
Short positions are possible from the 4150 level, this would be an ideal place to sell this week, limit your losses.
- If you want to buy:
Long positions are possible on a rollback from the level 3970,3945, 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 the 3970, 3945 level. If you want to open a short position, then it is better to do it from the level of 4150. 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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