S&P 500 Index Analytics on 08/09/22:
Today we’re here to talk about the SPX 500 Index.
What’s on the market now:
Today the index is trading at 4140. And yesterday’s trading day we saw a sharp upward movement with a peak at 4180, and then profit taking. If the current trend in profit taking continues, then this may cause a correction in the market to the level of 4070, which I mentioned earlier. However, the market still has a high probability of the market moving towards the level of 4250 – 4280.
What I’m looking forward to today:
There is a high probability that the market will begin a correction and we will see a movement to the level of 4070, which will be caused by profit taking. But I maintain my positive outlook as long as the market has room for growth towards 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:
Buying on the market is prohibited, the market may begin a correction caused by profit taking. If you want to buy the index, then it is better to do it from the level of 4070, but limit your losses. - If you are not in the market:
If you want to buy, it’s best to place your buys at the 4070 level, but limit your losses. Short positions are possible from the level of 4250.
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Goodbye!
