The S&P 500 rallied during the day after initially gapping lower on Monday. We saw the 2120 level below as support, and as a result we rallied to take
The S&P 500 rallied during the day after initially gapping lower on Monday. We saw the 2120 level below as support, and as a result we rallied to take those losses back. At this point, I would expect quite a bit of buying pressure just underneath so it is likely that we will go higher. I have no interest in selling this market, and believe that the “floor” extends all the way down to the 2100 level below. If we break above the top of the candle, I believe that the market will try to reach towards the 2160 handle.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
