SP500 Technical Analysis ES1! futures S&P 500 Index 2-13-23
What’s on the market now:
Today the S&P500, (ES1!) is trading at 4093. During yesterday’s trading session, we saw the market reach 4065, after which it started the small uptrend towards 4120 that I mentioned earlier. Now the market is in an uncertain situation. Which was caused by profit taking from experienced players. However, I expect that today we will see a decline in the index down to the level of 4030-4017. Where there are a large number of buy orders from large players, it is obvious that there will be another attempt to reverse the index. But if this attempt to decline is broken, then we will see a sharp increase in the index to a level above 4126.
As I said earlier globally the market goes to the level of 4310 and above. However, now the market is in a slight correction, which, I expect, will last until February 13-14.
If you haven’t seen yesterday’s index analytics, you can check it out here.
What today:
Today at the open of the market, I expect the index to make an attempt to stabilize. And after that, it will continue its decline to the level of 4030. If this reversal attempt is successful, we will see a decrease in the index. But if this attempt to decline is broken, then we will see a sharp increase in the index to a level above 4126. An important level today is the level of 4126 where there are large volumes for sale from speculators. Today, this level requires increased attention.
Here are my trading recommendations for today 2-13-23
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 4032-4017, 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 4032-4017, limit your losses. If you want to open a short position, then it is better to do it from the level of 4310. Limit your losses.
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.
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