The S&P 500 as you can see fell rather significantly during the course of the session on Thursday, testing the 2050 handle. We believe that a
The S&P 500 as you can see fell rather significantly during the course of the session on Thursday, testing the 2050 handle. We believe that a supportive candle somewhere in this general vicinity should be a buying opportunity as the market is at the bottom of the longer-term range. With this, we believe that the market will then bounce towards the 2105 handle, given enough time. We are buyers at the first signs of a bounce and support as the market should continue to consolidate due to the fact that the summer isn’t exactly the time to see massive moves.
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.
