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.
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.
