S&P 500 Index Analytics on 10/28/22
Today we’re here to talk about the S&P 500 Index.
What’s on the market now:
Today the index is trading at 3807. During yesterday’s trading day, we saw a slight decrease in the index, as I mentioned earlier. However, the correction was small. Today, as yesterday, I expect the index to continue to decline and reach its bottom at 3750 – 3730. However, if this attempt is broken, then the market will continue its growth, to the level of 3970.
What today:
Today, I expect the correction to develop to the level of 3750-3730. But the market also retains the possibility of a sharp market movement to the level of 3970. But if the market falls sharply, then long trading will be prohibited for today.
Here are my trading recommendations for today 10/28/22
What I recommend:
- If you want to open short:
Short positions are possible from 3950 which would be a perfect place to sell this week, limit your losses. - If you want to buy:
Long positions are prohibited, limit your losses. - If you are not in the market:
Long positions are possible from the level of 3750-3715, but it is risky. If you want to open a short position, then it is better to do it from the level of 3970, limit your losses.
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