The S&P 500 initially fell during the course of the session on Tuesday, but found enough support below the 2100 level to turn things back around and
The S&P 500 initially fell during the course of the session on Tuesday, but found enough support below the 2100 level to turn things back around and form a little bit of a hammer. Because of this, we believe it’s only matter of time before this market goes higher, so we are buyers on a break of the top of the range for the Tuesday candle. With the FOMC Meeting Minutes coming out today, there could be a bit of volatility, but at this point in time it looks as if the market is very well supported just below.
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.
