S&P 500 Index Analytics on 08/23/22:
Today we’re here to talk about the S&P 500 Index.
What’s on the market now:
Today the index is trading at 4138. And yesterday we saw a sharp drop in the index to the target zone 4170-4140, what I wrote about earlier. This level can be good for opening long positions. However, if there is a sharp drop in the market, then this will cause profit-taking among medium-term investors, and in this case, we can see the index at 4000. But the probability of this is small.
What I’m looking forward to today:
I expect the index to stabilize and then make an attempt to rise to 4220. However, if the market continues to move lower, then the next target will be the level of 4000.
Here are my trading recommendations for today 08/23/22
What I recommend:
- If you want to go short:
Short positions are prohibited. - If you want to buy:
You can open long possition at the current level, but limit your losses. - If you are not in the market:
If you want to buy, you can open longs on the market, limit your losses. There is a possibility of movement to the level of 4000 on the market. Short positions are possible from the level above 4350.
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Also remember to contact me in 2 or 3 days for further trading advice.
