S&P 500 Index Analytics on 08/12/22:
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 4219. Yesterday the market started a correction caused by profit taking, which I mentioned earlier. Today, this correction will continue its development. I expect bottom to be at 4160. However, I maintain my positive outlook on the market.
What I’m looking forward to today:
Today I expect the development of a correction, which is caused by profit taking. But there is a possibility of a sharp rise in the index on the market.
Here are my trading recommendations for today 08/12/22
What I recommend:
- If you want to go short:
Short positions are prohibited. However, a good opportunity would be to go short in the 4280-4350 area. - If you want to buy:
Purchases are possible only at the local day of the current correction. Buy levels 4160, 4110. But a good entry into the market would be buying from 4110. Limit your losses. - If you are not in the market:
If you want to buy, it is better to place your buys at the 4170 or 4110 level, limit your losses. Short positions are possible from the level of 4350.
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Also remember to contact me in 2 or 3 days for further trading advice.
