Short

S&P 500

The index is moving within the forecast, we saw a pullback from the 3850-3920 zone. We tested the previous strong support level, which became a strong resistance of 4120-4200, then we saw a flat at the level. Globally, I expect the markets to fall further, both fundamental and technical factors indicate a continuation of the fall. We will soon find out new data on inflation, and next week the Fed is expected to raise rates again by 0.5%. All this can trigger an update of the lows. The next serious support zone is at the level of 3500-3250, but the price may show pullbacks, I do not expect a drop in one candle. For the S&P 500, this will be 30% down from the highs, it is possible to expect a market reversal from these values, but it will be necessary to look at the fact of approaching them and accumulating at these levels.

kEril_420

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