S&P 500 Index Analytics on 09/08/22:
Today we’re here to talk about the S&P 500 Index.
What’s on the market now:
Today the index is trading at 3979. Yesterday the market went up, as I expected. However, the volumes during the day were larger than I expected. Now the market is in the profit-taking phase, which means that there will be high volatility in the market. At the same time, I still expect the bottom of this correction at the level of 3800.
That is, globally, nothing changes. We still have the possibility of the difficult correction I spoke about earlier. At the same time, the bottom remains at the level of 3830-3785. Which indicates the importance of opening short positions from the level of 4025 – 4060.
What today:
Today, at the open, I expect the market to decline to 3940, however, if this movement is broken, then the market will try to take the level of 4025.
Here are my trading recommendations for today 09/08/22
What I recommend:
- If you want to open short:
You can try to open short on the pullback around 4025 – 4060, limit your losses. - If you want to buy:
Long positions are possible from the level of 3815-3790. Limit your losses. - If you are not in the market: You can open a long position from the level of 3815-3790. Short positions are possible above 4025 – 4060, limit your losses. If you had open short positions from 3962-3980, that is, it makes sense to close them today with a profit or transfer to breakeven in any case, limit your losses.
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