SNP 500 Index Analytics on 08/05/22:
Today we’re here to talk about the SPX 500 Index.
What’s on the market now:
Today the index is trading at 4151. And in the last trading week, we saw a sharp upward movement to our target zone of 4125. In which a small correction caused by profit taking began.
Now the market is developing a steady movement, I expect that its local top will be around 4250 – 4280, however, if there is a sharp increase, the market will reach its maximum peak at the price of 4350. But today, the price of 4250 – 4280 seems to me the most likely.
What I’m looking forward to today:
There is a positive mood on the market and there is still a positive background for growth. I expect the market to continue its upward movement to the level of 4250 – 4280.
What I recommend:
- If you want to go short:
Short positions are prohibited. However, a good opportunity would be to open short in the area of 4250 – 4280. - If you want to buy:
You can buy in the market, but limit your losses. The market may begin a correction caused by profit taking. - If you are not in the market:
If you want to buy an index, then you can do it at the market, but limit your losses. Short positions are possible from the level of 4250.
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Goodbye!
