SPX

23 May 2023

Hello everyone!
Today, I would like to provide a technical analysis of the SPX index (Standard and Poor's 500). From the chart, it can be seen that the current trend is locally bullish, and in my opinion, the asset is being driven towards liquidity zones above the current price. The first liquidity zone is in the price range of 4260-4290. Further on the chart, liquidity levels of 4592 and 4802 are shown. However, access to these zones is currently closed, and only a price consolidation above 4350 (trading above this value for several days) will open the way to these levels. For now, I believe we will see a test of the first liquidity zone at 4260-4290, after which the asset will resume its decline. The ultimate target for the decline is considered to be the range of 3300-2900, and closer to these prices, we will provide a more detailed review of this asset.