The S&P 500 fell during the course of the week, testing the 1880 level. There is a significant amount of support just below, and as a result we are
The S&P 500 fell during the course of the week, testing the 1880 level. There is a significant amount of support just below, and as a result we are bit hesitant to start shorting. There is a massive hammer from a couple of weeks ago that has to be chewed through in order for us to feel comfortable shorting, which is roughly 60 points below, meaning that we have quite a way to go to get there. We don’t have any interest in buying this market, as there is no signs of support turning the market around at the moment.
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.
