SPX 500 index: On top of the hill - Last attempt to take 3850.
Today we're here to talk about the SPX 500 index
Today: The index is trading at 3759 and in the last two trading sessions we have seen a move towards my previously anticipated target zone at 3785. Here is a link to the idea. Currently, the market is in the equilibrium zone, where participants must decide where the local peak will be. There is still a possibility of price movement to the level of 3830-3850 on the market, but this isn't necessary.
Today we are waiting:
Today we are waiting for an attempt to move to the level of 3830 - 3850. There is a probability of such an event on the market, but this probability is not high, and if this attempt is broken, then I expect a sharp movement to 3550 - 3480.
What I recommend:
If you want to go short:
It is better to open short positions from the level of 38 35, but limit your losses.
If you want to buy:
Buying now is too risky. If you want to buy, it is better to wait for the bottom of the market in the region of 3550 - 3480 and buy there.
If you are not in the market:
You can try to go short from the 3835 level or wait until the market bottoms around 3550 - 3480 and then buy.
Like and subscribe, thanks!
Also remember to contact me in 2 or 3 days for further trading advice.
Don't forget to like it, it really motivates me to share my market knowledge.
See you next time!
Bye!
Today: The index is trading at 3759 and in the last two trading sessions we have seen a move towards my previously anticipated target zone at 3785. Here is a link to the idea. Currently, the market is in the equilibrium zone, where participants must decide where the local peak will be. There is still a possibility of price movement to the level of 3830-3850 on the market, but this isn't necessary.
Today we are waiting:
Today we are waiting for an attempt to move to the level of 3830 - 3850. There is a probability of such an event on the market, but this probability is not high, and if this attempt is broken, then I expect a sharp movement to 3550 - 3480.
What I recommend:
If you want to go short:
It is better to open short positions from the level of 38 35, but limit your losses.
If you want to buy:
Buying now is too risky. If you want to buy, it is better to wait for the bottom of the market in the region of 3550 - 3480 and buy there.
If you are not in the market:
You can try to go short from the 3835 level or wait until the market bottoms around 3550 - 3480 and then buy.
Like and subscribe, thanks!
Also remember to contact me in 2 or 3 days for further trading advice.
Don't forget to like it, it really motivates me to share my market knowledge.
See you next time!
Bye!
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.