SP500 Technical Analysis ES1! futures S&P 500 Index 3-13-23
The market is crashing, try to cut your losses.
What’s on the market now:
Today the S&P500 (SXP) is trading at 3861. Yesterday we saw the market move towards the expected target zone of 3943 and then the expected decline in the index that I mentioned earlier. Currently, many funds are experiencing difficulties. Tonight, automatic systems began to forcibly close positions in bonds. Which creates additional problems. I expect the index to drop to 3804 – 3705 in the near future.
If you didn’t see my analysis yesterday, you can check it out here.
What today:
Still SPX on the charts today: At market open today, I expect the market to try to stabilize and try to rise to 3943. After that, I expect the index to continue to fall to 3804 – 3705. However, if the attempt to rise is broken, we will see a sharp decline in the index to the level of 3804 and below.
Keep in mind that there is high volume in the market right now and likely sharp moves during the day.
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