SP500 Technical Analysis ES1! futures S&P 500 Index 2-14-23
What’s on the market now:
Today the S&P500 (ES1!) is trading at 4156. Yesterday my expectations of a correction to 4032 didn’t come true. Although I was expecting a rise to the 4126 level I mentioned earlier, yesterday’s rise disappointed me. As I said earlier, the market is in an uptrend, and our goal now is to increase positions. However, I could not increase my positions on this correction.
Now the market is moving towards the level of 4310. Level 4180 should be given special attention. I expect that many market participants will look for an opportunity to open short positions. Which will cause stabilization in the movement of the index and an attempt to roll back to the level of 4140. However, if this reversal attempt is broken, we will see a sharp rise in the index to the level of 4280-4310.
If you haven’t seen yesterday’s index analytics, you can check it out here.
What today:
Today, at the market open, I expect the index to make an attempt to rise to the level of 4180, after which the index will begin to stabilize, followed by a decrease in the index to the level of 4140.
However, the market also remains a small chance for a decline to the level of 4030. Although the probability of this is critically small, if this happens I will increase the position from this level.
Here are my trading recommendations for today 2-14-23
What I recommend:
- If you want to open a short position:
Short positions are prohibited.
- If you want to buy:
Long positions possible on pullbacks from 4032-4017, limit your losses
- If you are not in the market:
If you’re out of the market. Then you need the perfect price to trade. Long positions possible on pullbacks from 4032-4017, limit your losses. If you want to open a short position, then it is better to do it from the level of 4310. Limit your losses.
Please note that my S&P 500 ES1! analysis is current as of the publication date. In fact, I am arguing that the analysis is correct only at the time of its publication and may be incorrect even a few hours after its publication. This is due to the fact that I analyze the trading volumes that are on the exchanges, and therefore it makes sense for you to follow me on Twitter. Or join my telegram trading channel.
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