SPX 500 index: local peak at 3850 - key turning point:

Today we're here to talk about the SPX 500 index

Today: The index is trading at 3795 and yesterday we saw the market attempt to move up to the 3850 level. Here is a link to the idea. Today, market participants will continue to push the market to the 38 50 zone. Where I expect the formation of a new local peak.

Today we are waiting:
Today, like yesterday, we are waiting for an attempt to move to the level of 3830 - 38 50.

What I recommend:

If you want to go short:
It is better to open short positions from the level of 38 35, but limit your losses.

If you want to buy:
Buying now is too risky. If you want to buy, it is better to wait for the bottom of the market around 3550 - 3480 and buy there.

If you are not in the market:
You can try to go short from the 3835 level or wait until the market bottoms around 3550 - 3480 and then buy.

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