The S&P 500 gapped higher on Monday, reaching towards the 2400 level but turned around to form a shooting star. I believe there is plenty of support
The S&P 500 gapped higher on Monday, reaching towards the 2400 level but turned around to form a shooting star. I believe there is plenty of support underneath though, so I’m looking for support of candles on pullbacks to take advantage of what I think is a very bullish market anyway. Given enough time, we should reach for the 2400 level, and then a break above there should send this market to the 2500 level. I have no interest in shorting, and believe that the 2300 level is the “floor” in the market.
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.