spx 500 Index Analyst on 08/05/22 Today we are here to talk about the SPX 500 index
What's on the market now:
Today the index is trading at 4151. And in the last trading week, we saw a sharp upward movement to our target zone of 4125. This is where a small correction caused by profit taking began.. Now the market is developing a steady movement, I expect that its local top will be around 4250 - 4280, however, if there is a sharp increase, the market will reach its maximum peak at the price of 4350. But today, the price of 4250 - 4280 seems to me the most likely.
What I'm looking forward to today: There is a positive mood on the market and there is still a positive background for growth. I expect the market to continue its upward movement to the level of 4250 - 4280.
My trading recommendations for the index as of 08-05-22.
What I recommend: If you want to go short: Short positions are prohibited. However, a good opportunity would be to open short in the area of 4250 - 4280.
If you want to buy: You can buy in the market, but limit your losses. However, a good buy price would be 4050. The market may begin a correction caused by profit taking.
If you are not in the market: If you want to buy an index, then you can do it at the market, but limit your losses. Short positions are possible from the level of 4250.
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darrenlall
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what is that red and green arrow indicator called?
kvatoo_FX
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@darrenlall, Sorry, but there is no indicator with red and green arrows on the chart. These are my market entries. This is the result of my trading, which I conduct based on my personal trading experience. You can learn more about me from my personal investment blog. You can also follow me to keep up to date with the SNP 500 index.
kamiltbg2
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Thank you for the analysis! do you expect a reversal aroung 4250 level? if so, how far the reversal could go?
kvatoo_FX
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@kamiltbg2, Yes, I expect a reversal from 4280. The stop target will be 4115. (+3.8%) but the success of this will depend on the entry price. I recommend opening shorts in the area 4280.