S&P 500 Index Analytics on 08/29/22:
Today we’re here to talk about the S&P 500 Index.
What’s on the market now:
Today the index is trading at 4057. Yesterday we saw a sharp drop in the index, which, as I understand it, was planned in advance by Jerome Powell. In his speech, he said that he would fight inflation by shrinking the real economy. That is what he had in mind and therefore his statement caused a sharp sale. Globally, I expect the index to bottom at 2750.
Thus, at present, the market has moved into the red zone. And the market has ceased to be positive. We need to prepare for a deep correction of the index.
What I’m looking forward to today:
I expect the market to continue falling. And we will see a movement to the level of 4000. However, a slight corrective movement is possible.
Here are my trading recommendations for today 08/29/22
What I recommend:
- If you want to go short:
You can try to open short on the pullback, but limit your risks. - If you want to buy:
Buying in the market is prohibited, limit your losses. - If you are not in the market:
Buying is prohibited on the market at the moment due to the possibility of a sharp fall to the 4000 level, but limit your losses. You can try to open short at the market, but it’s better to do it on a pullback, limit your losses.
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