SXP 500 index: SXP 500 index: Profit-taking from shorts today?
Today we are here to talk about the SXP 500 index.
Today: The index is trading at 3991. In the last trading session, the market went down sharply, as we expected earlier, here is a link to the idea.
What's on the market now:
Globally, the index goes to 3850. And I expect it to be at that level around May 18-21.
What are we waiting for today:
Today we are waiting for an attempt to stabilize the price caused by profit-taking, its movement to the level of 40 80 - 41 00, and then we expect a sharp movement to the level of 3850.
What I recommend:
If you want to go short:
It is better to open short positions from the level of 4080 - 4100, limit your losses.
If you want to buy:
Longs possible below 3850, limit your losses.
If you are in cache:
You can sell from 4100 or wait until the market bottoms around 3850-3780.
If you want to ask a question about an idea:
If you would like more information, please contact me in the comments below.
And please don't forget to like. This greatly motivates me to share my trading ideas and market knowledge.
Also take a look at my profile for a full SPX 500 daily trading history. Contact me in 1 or 2 days for further trading advice.
Like and subscribe, thanks!
See you next time.
Today: The index is trading at 3991. In the last trading session, the market went down sharply, as we expected earlier, here is a link to the idea.
What's on the market now:
Globally, the index goes to 3850. And I expect it to be at that level around May 18-21.
What are we waiting for today:
Today we are waiting for an attempt to stabilize the price caused by profit-taking, its movement to the level of 40 80 - 41 00, and then we expect a sharp movement to the level of 3850.
What I recommend:
If you want to go short:
It is better to open short positions from the level of 4080 - 4100, limit your losses.
If you want to buy:
Longs possible below 3850, limit your losses.
If you are in cache:
You can sell from 4100 or wait until the market bottoms around 3850-3780.
If you want to ask a question about an idea:
If you would like more information, please contact me in the comments below.
And please don't forget to like. This greatly motivates me to share my trading ideas and market knowledge.
Also take a look at my profile for a full SPX 500 daily trading history. Contact me in 1 or 2 days for further trading advice.
Like and subscribe, thanks!
See you next time.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.