SP500 Technical Analysis ES1! futures S&P 500 Index 2-9-23
What’s on the market now:
Today the S&P500, (ES1!) is trading at 4146. Yesterday afternoon we saw the market decline to 4140 and below, where the stabilization began, I mentioned earlier. Now there are many players on the market who see in the current reversal an attempt to increase the index to the level of 4310. They continue to hold long positions. However, if this growth attempt is broken, then we will see a sharp decline in the index to the level of 4025.
If you haven’t seen yesterday’s index analytics, you can check it out here.
What today:
Today at the open of the market, I expect the index to try to rise to the level of 4165. Some inexperienced players will try to trade up.But at the 4165 level there are many orders from experienced speculators who will sell. Their goal is to bring the market down to 4065-4025.
If this attempt to turn down is broken, then we will see a sharp increase in the index. However, if the reversal from 4165 is successful, we will see a fall to 4065-4025.
Thus, today 4165 is an important level, which requires our increased attention.
Here are my trading recommendations for today 2-9-23
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 4063-4025, 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 4025-4063, 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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