SP500 Technical Analysis ES1! futures S&P 500 Index 2-27-23
What’s on the market now:
Today the S&P500 (ES1!) is trading at 3993. Last Friday we saw a sharp drop in the index to the level of 3950. However, I missed the signal of a reversal from this level. Globally, the market retains room for growth towards the 4310 level I mentioned earlier.
However, the market is currently in a correction. In the near future, the market will try to get out of it and continue its growth. This can happen from the 3950 level or from the 3880 level. But we will definitely find out in the near future.
If you haven’t seen yesterday’s index analytics, you can check it here.
What today:
Today at the open of the market, I expect that the index will make an attempt to rise to the level of 4022-4031, after which the speculators will once again try to lower it to the level of 3880. However, if this attempt fails, we will see the market turn around at the level of 3965. And further sharp growth of the index.
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