The S&P 500 initially tried to rally on Thursday but rolled over a bit. I believe that the market is probably going to drift for the next few
The S&P 500 initially tried to rally on Thursday but rolled over a bit. I believe that the market is probably going to drift for the next few sessions, perhaps to the downside to fill the gap that had formed at the beginning of the week. Nonetheless, I have no interest in shorting this market as it is very bullish. This should be a cooling-off period, and this should end up being a nice buying opportunity longer term. With earnings coming out, the markets will continue to be a little bit back and forth, but I believe it’s only a matter of time before the buyers return.
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.
