SP500 Technical Analysis ES1! futures S&P 500 Index 2-17-23
What’s on the market now:
Today the S&P500 (ES1!) is trading at 4172. The market was very interesting yesterday. As I mentioned earlier, the day started with a decline, however, early in the day we saw the bears trap the bulls. Then it was only a matter of time before they lost power. As a result, we saw a sharp drop.
Now the market continues its movement to the level of 4030, which I mentioned since the beginning of February. I expect the index to attempt a reversal at 4030-4015. Where I will try to increase my positions. I also recommend that you take a look at the US stock trading signals section. Maybe this will be useful for you.
If you haven’t seen yesterday’s index analytics, you can check it out here.
What today:
Today, at the beginning of the trading day, I expect an attempt to stabilize the market and pull back to the level of 4085. After that, the market will attempt to decline to the level of 4030-4015. Where should we look for opportunities to increase our positions.
Here are my trading recommendations for today 2-17-23
What I recommend:
- If you want to open a short position:
Short positions are prohibited.
- If you want to buy:
Long positions possible on pullbacks from 4030-4015, 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 4030 – 4010, limit your losses. If you want to open a short position, then it is better to do it from the level of 4310.
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.
Click the thumb up if you agree with today’s trading idea. Also remember to contact me in 2 or 3 days for further trading advice. If you have any questions about analytics and my trading logic, then I recommend that you read the FAQ. Also share a link to my blog, it will greatly help in its movement.
Follow me on Twitter to stay up to date on S&P 500 index. Also visit my about me page to get to know me better. If you like the content of my blog, you can make a donation to support the blog.
