Initially, the S&P 500 tried to fall during the course of the week but we have the hammer from the previous week to support this market. We did up
Initially, the S&P 500 tried to fall during the course of the week but we have the hammer from the previous week to support this market. We did up with a fairly quiet we, but quite frankly this is a market that needs to take a break. We will probably grind sideways for a couple of weeks and before we start the next leg higher. With the impulsive move that we’ve had, it makes sense that we have to calm down and of course it is vacation season for most traders. Patience will be rewarded.
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.
