S&P 500 Index Analytics on 10/18/22:
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 3677. Yesterday we saw the market move up, which was expected earlier. However, the downward movement in the market did not take place. We also saw strong market support throughout the day. This gives us reason to believe that the index will rise to the level of 3840 in the near future.
What today:
Today at the open, I expect the market to try to rise to the level of 3745, but then the movement to the level of 3580 will continue. There is also a high probability of a sharp fall to the level of 3200 on the market, long positions are prohibited.
Here are my trading recommendations for today 10/18/22
What I recommend:
- If you want to open short:
Short positions are possible from the 3840-3815 level, this will be the ideal place to sell this week, limit your losses. - If you want to buy:
Long positions are prohibited, limit your losses. - If you are not in the market:
Long positions are possible from the 3200 level, If you want to open a short position, then it is better to do it from the level of 3840 – 3815 limit your losses.
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