S&P 500 Index Analytics on 08/15/22:
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 4280. And last Friday the market continued its sharp upward movement to the level of 4280. But at the same time, he did not begin the correction that he expected earlier. However, I keep waiting for the local
correction. At the same time, the goal of the market movement remains at the level of 4350.
But if the market continues its sharp upward movement and reaches the level of 4350, without correction, then this will open up new horizons for growth with a local top around 4475.
What I’m looking forward to today:
Today, I expect the development of a correction, which will be caused by profit-taking. But the market remains likely to rise sharply.
Here are my trading recommendations for today 08/15/22
What I recommend:
- If you want to go short:
You can go short above 4350 but limit your losses. - If you want to buy:
Buying is possible only at the bottom of the current correction. Buy from the 4170 level, 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 4120 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.
