Analytics spx 500 index: Complex correction, new look.Today we are here to talk about the SPX 500 index
Today: The index is trading at 3900 and yesterday we saw the stabilization of the market that I expected earlier. Here is a link to the idea.
Today I expect a continuation of the developing correction. However, this will not be a real sharp drop, although the decline will be significant. I believe that the market has fallen to the 3750 zone and will try to turn around there to go to 4000. This will be the positive scenario that I talked about yesterday. However, such a development, although it is joyful in itself, does not cancel the further correction to the 3550 - 3480 zone. But this is still about the future, but today I am waiting for the next one.
Today we are waiting:
Today, I expect the market to decline to the 3780-3750 zone, however, if this trend is broken, the market will continue its growth to the level of 4050-4000
What I recommend:
If you want to go short:
It is better to open short positions from the level of 4010 - 4050, but limit your losses.
If you want to buy:
Buying is now too risky in the market. However, if there is a positive scenario on the market, then you can enter the market from the level of 3700. If you want to buy, it is better to wait for a favorable price.
If you are not in the market:
You can try to go short from the 4010 level or wait until the market hits a local low around 3700 and then buy, but limit your losses.
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