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.
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.
