The S&P 500 initially tried to rally during the course of the session on Friday but as you can see found far too much in the way of exhaustion above.
The S&P 500 initially tried to rally during the course of the session on Friday but as you can see found far too much in the way of exhaustion above. By doing so, we did up forming a relatively negative candle and it tells me that the market isn’t quite ready to go higher yet. However, I do think that sooner or later we get a supportive candle the we can take advantage of and start buying. With this being the case, I am bullish of this market but recognize that it could be a very bumpy road ahead.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
