SXP 500 index: New pivot point
Today we're here to talk about the SPX 500 index
Today: The index is trading at 3666 and in the last trading session we saw a sharp drop from the local high that I mentioned earlier, here is a link to the idea. Now is the worst time to buy in the market. The market is still waiting for big sales.
Today we are waiting:
Today we are waiting for an attempt to move to the level of 37 40 - 37 85. But if this movement is broken, then we will see a further fall of the market to the level of 35 50.
What I recommend:
If you want to go short:
It is better to open short positions from the level of 37 40 - 37 85, but limit your losses.
If you want to buy:
Shopping now is too risky. If you want to buy it is better to wait for the bottom of the market around 35 25 and buy there.
If you are not in the market:
You can try to go short from the 37 85 level or wait until the market bottoms around 3550-3500 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 3666 and in the last trading session we saw a sharp drop from the local high that I mentioned earlier, here is a link to the idea. Now is the worst time to buy in the market. The market is still waiting for big sales.
Today we are waiting:
Today we are waiting for an attempt to move to the level of 37 40 - 37 85. But if this movement is broken, then we will see a further fall of the market to the level of 35 50.
What I recommend:
If you want to go short:
It is better to open short positions from the level of 37 40 - 37 85, but limit your losses.
If you want to buy:
Shopping now is too risky. If you want to buy it is better to wait for the bottom of the market around 35 25 and buy there.
If you are not in the market:
You can try to go short from the 37 85 level or wait until the market bottoms around 3550-3500 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.