Buying SPX on back of ongoing US stock market recovery

The S&P 500 Index (SPX) continues to show upward momentum, with technical indicators displaying consistent progress and no significant disruptions. Nevertheless, Friday's trading session tends to be a thunderclap for the market, particularly the American one, often bringing in heightened volatility and unexpected moves. No major US economic releases are scheduled today that could trigger sharp reactions. However, US President Donald Trump remains the primary wild card for price dynamics, as he is known for his unpredictable remarks—especially ahead of his weekend departures, which have previously stirred market fluctuations.

Barring any unexpected events, a clear technical scenario emerges for SPX today. There is solid support at $6,330, which could serve as an entry point for buying the index with a target of $6,400. To manage risk, it is better to place a protective order below the technical lows at $6,285. Alternatively, traders could opt for a tighter stop just below $6,300 to limit potential losses, though this increases the risk of being stopped out by minor price fluctuations.

The overall recommendation is to buy SPX from $6,300.

Profits are taken at the 6,400 level. Stop Loss is placed at 6,285.

The volume of your open position should be calculated so that the potential loss (protected by a Stop Loss order) does not exceed 1% of your deposit. If your account balance doesn’t allow opening a position of this size, it’s better to avoid entering the market on this signal and wait for other trade options that meet low-risk criteria.