S&P 500 Index Analytics on 10/27/22:
Today we’re here to talk about the S&P 500 Index.
What’s on the market now:
Today the index is trading at 3830. Yesterday we saw a stabilization in motion and a decline in the market, as I mentioned earlier. Today I expect that the market will continue to develop a correction and reach its bottom at 3780-3750. However, if this attempt is broken, then the market will continue its growth, where you need to look for places to open short positions from the level of 3970.
What today:
Today, I continue to expect the beginning of a correction and an attempt by the market to go down to the level of 3750. However, the market also has the possibility of a sharp fall in the index, so long positions are prohibited.
Here are my trading recommendations for today 10/27/22
What I recommend:
- If you want to open short:
Short positions are possible from 3950 which would be a perfect 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 level of 3750, but it is risky. If you want to open a short position, then it is better to do it from the level of 3970, limit your losses.
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