Analysis of the S&P 500 index 11.29.22
What’s on the market now:
Today the index is trading at 3982. Yesterday we saw how the market tried to start rising from the 4000 – 3980 level that I mentioned earlier, and then the index fell to the 3970 level. As I said earlier, the market still has a chance to start its growth to the level of 4150, however, if this attempt fails, we will see the index drop to the 3945-3935 zone. The 3970 level is the key moment when the index has the last chance to rise.
What today:
Yesterday the index started to make its last attempt to rise from the level of 3970. As I said earlier, if this attempt is broken, then we will see the index moving towards the level of 3935-3920. And this will mark the beginning of a complex correction.
Here are my trading recommendations for today 11.29.22
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 3935-3920, 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 3935-3920 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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