The S&P 500 as you can see fell but like all other American indices found enough support below to turn things back around and form a hammer. Because
The S&P 500 as you can see fell but like all other American indices found enough support below to turn things back around and form a hammer. Because of this, we believe that this market is eventually going to go higher but we see quite a bit of noise just above. With this, is currently one of our least favorite US indices to trade to the upside, but we certainly wouldn’t be shorting at this point in time. We believe eventually this market will head back to the 2130 level all things being equal though.
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.
