Possible targets for Santa Claus Rally: 4060-4250-4400

11 нояб. 2022 г.

Analysis of the spx 500 index 11/11/22 Today we are here to talk about the SPX 500 index.
And so let's see what happened to the index over the past day.

What's on the market now:
Today the index is trading at 3960. Yesterday, we saw a sharp rise in the index. I thought that such an event was unlikely, but it happened. As I said earlier, if there is such an abnormal event in the market, then the market will go to the level of 3970-4050. Where is the index located at the current moment.
The current trading volume, which is present on the market, allows us to think that the level of 3970-4060 will be only a temporary point, then the market will need a small rollback to the level of 3880.
Where will the market have a chance to start the Santa Claus rally.

What I'm looking forward to today:
Today, the market is still likely to move sharply to the level of 4025-4060. After that, I expect the market to stabilize and an attempt to roll back to 3880.

Here are my trading recommendations for today.
What I recommend
If you want to go short:
Short positions are possible from the 4060 level, limit your losses.
If you want to go long:
Long positions are possible on a rollback from the level of 3880.
If you are out of the market:
Long positions are possible on a rollback from the level of 3880, If you want to open a short position, then it is better to do it from the level of 4060, limit your losses.

Also remember to contact me in 2 or 3 days for further trading advice.
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See you next time!
Bye!