S&P 500 Index Analytics on 10/26/22:
Today we’re here to talk about the S&P 500 Index.
What’s on the market now:
Today the index is trading at the level of 3859. Over the past trading day, we saw an increase in the index to the target zone of 3860, I spoke about this earlier. Now I expect the beginning of the correction in the near future. If the correction starts today, then its bottom can be expected at the level of 3730. However, if this attempt is broken, then the market will continue its growth, where you need to look for new places to open short positions from the level of 3925 – 3975.
What today:
I continue to expect the beginning of a correction and an attempt by the market to drop to the level of 3743 – 3715. But there is also a possibility of a sharp movement of the market to the level of 3925 – 3975 in the market.
Here are my trading recommendations for today 10/26/22
What I recommend:
- If you want to open short:
Short positions are possible from 3950 – 3975 which would be a perfect place to sell this week, limit your losses. - If you want to buy:
Long positions are possible from the level of 3715. - If you are not in the market:
Long positions are possible from the 3715 level, limit your losses. If you want to open a short position, it is better to do it from the level of 3925 – 3975.
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