Analysis of the S&P 500 (ES1!) index 01-30-23
What’s on the market now:
Today index S&P500, (ES1!) is trading at 4054. As I said last Friday, the market is now expected to rise sharply. However, now the market is in a corrective movement, which is caused by profit-taking in medium-term players. As I mentioned earlier the market did the last push up and began its correction. I expect this correction to be minor and take 1-2 days. However, the market has all the chances for a sharp rise to the level of 4240-4310. Therefore, short positions are prohibited.
Now our task is to increase our positions on the rollbacks of the market. Entering the market now is a good idea, a bad idea is trying to trade short on this pullback.
What today:
At the market open today, I expect the index to attempt to style around the 4060-4080 level and then make an attempt to drop to the 4020-4015 level. Where should we look for new opportunities to open long positions.
Here are my trading recommendations for today 01-30-23
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 are possible from 4015-4020 level, 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 4015-4020, 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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