SP500 Technical Analysis ES1! futures S&P 500 Index 4-12-23
Today’s Market Overview:
Today the S&P500 (ES1!) is trading at 4159.
Yesterday, the trading day went exactly as we anticipated: first, the index dropped to 4130, then stabilized and continued its growth to around 4151. After that, we saw sharp selling once again. In this attempt, speculators tried to lower the index to 4070, which we discussed earlier, but their efforts were thwarted, and we saw a rapid movement of the index upward into the zone we expected.
Currently, the market remains positive and continues to move toward the 4310 level, which we have been talking about for quite some time. I expect this trend to continue today.
If you didn’t see my analysis yesterday, you can check it out here.
What to expect today:
The 4070 level continues to be relevant for the market, although it is not a target for any specific group of traders. Therefore, reduce your losses if there is a collapse in the market.
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