Analysis of the S&P 500 (ES1!) index 01.19.23
What’s on the market now:
Today index S&P500, (ES1!) is trading at 3916. Yesterday at the beginning of the day we saw the last attempt to increase the index which was broken. After that, we saw a sharp drop to the level of 3950, which I mentioned earlier. However, the market went even lower.. Currently, I expect the index to make an attempt to drop to the level of 3890-3860. Globally, the market continues to be positive. But a lot will depend on the current correction.
What today:
Today in the first half of the day I expect the index to attempt to rise to the level of 3950-3960 and then fall to the level of 3890-3860 where we will need to look for new entry points.
However, if the fall continues without a rise to 3950, then we need to be very careful, as the bottom of the correction may be shifted to the level of 3840-3820.
Here are my trading recommendations for today 01.19.23
What I recommend:
- If you want to open a short position:
Short positions are possible from 4160 level, limit your losses
- If you want to buy:
Long positions are possible from 3860 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 3860, limit your losses. If you want to open a short position, then it is better to do it from the level of 4160. 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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