Analysis of the S&P 500 index on 11.11.22
What’s on the market now:
Today the index is trading at 3960. Yesterday, we saw a sharp rise in the index. I thought that such an event was unlikely, but it happened. As I said earlier, if there is such an abnormal event in the market, then the market will go to the level of 3970-4050. Where is the index located at the current moment.
The current trading volume, which is present on the market, allows us to think that the level of 3970-4060 will be only a temporary point, then the market will need a small rollback to the level of 3880.
Where will the market have a chance to start the Santa Claus rally.
What today:
Today, the market is still likely to move sharply to the level of 4025-4060. After that, I expect the market to stabilize and an attempt to roll back to 3880.
Here are my trading recommendations for today 11.11.22
What I recommend:
- If you want to open a short position:
Short positions are possible from the 4060 level, limit your losses.
- If you want to buy:
Long positions are possible on a rollback from the level of 3880.
- If you are not in the market:
Long positions are possible on a rollback from the level of 3880, If you want to open a short position, then it is better to do it from the level of 4060, 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.
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