SP500 Technical Analysis ES1! futures S&P 500 Index 2-7-23
What’s on the market now:
Today the S&P500, (ES1!) is trading at 4124. Yesterday we saw a market reversal from the 4105-4094 level I mentioned earlier. As expected, the market began to stabilize. I expect that today the index will make an attempt to rise to the level of 4153-4175. However, 4153 may become an important level.
Now we need to carefully look at the level 4150-4175, if this growth attempt is broken, then we will see a continuation of the correction to the level of 4065.
If you haven’t seen yesterday’s index analytics, you can check it out here. My expectation during the day in the telegram channel.
What today:
Today at the open of the market, I expect the index to attempt to rise to the level of 4175-4153. At the level of 4153 there are many orders to close positions. However, if the growth is sharp, then there is a possibility that participants will start taking profits at the level of 4175. This situation requires our increased attention today.
Here are my trading recommendations for today 2-7-23
What I recommend:
- If you want to open a short position:
Short positions are prohibited, limit your losses
- If you want to buy:
Long positions possible on pullbacks from 4063, 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 4063, 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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