$SPX The recent short liquidation on $SPX, with a volume of $10.196K at a price of $0.81743, could signal a shift in market sentiment. Short liquidations typically indicate that traders who were betting against the market are forced to cover their positions due to price movements, which often leads to a bullish momentum.

Here’s what could come next for $SPX:

Market Sentiment.

Short Liquidation Impact. The $10.196K short liquidation at $0.81743 shows that bears short sellers are getting squeezed out. When shorts are liquidated, the market tends to push higher as traders cover their positions, buying back the stock or index they were betting against.

Bullish Pressure. This might create bullish pressure in the market, leading to a potential uptrend in $SPX.

Trading Plan.

Buy Zone.

The buy zone for $SPX could be identified around $0.800 to $0.815. If the price consolidates near these levels, it could be a good entry point, especially if the short squeeze momentum continues.

Target Levels.

The first target to watch for is around $0.85. If the price continues to push higher, the next significant level could be around $0.90.

Stop Loss.

To manage risk, the stop loss should be placed around $0.775. This gives you room to withstand some market fluctuations while protecting against larger losses in case the market reverses.

Key Considerations.

1. Volume and Momentum. Keep an eye on volume. If the volume starts to decrease, the upward momentum might fade, so be prepared to adjust your strategy.

2. Market News and Events. Watch for any major news or economic events that could affect the broader market sentiment and $SPX movement.

By entering in the buy zone, setting a target range, and placing a stop loss to protect your capital, you can structure a well informed trade. Always remember that market conditions can change quickly, so stay updated on any new developments that could impact $SPX.

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