The S&P 500 tried to rally during the session on Tuesday, but found the 1950 level be far too resistive. We pullback and formed a shooting star which
The S&P 500 tried to rally during the session on Tuesday, but found the 1950 level be far too resistive. We pullback and formed a shooting star which of course makes is a very soft looking market at the moment. We are simply going to have to wait to see if we had buyers below, and more importantly a supportive candle. If we do, we are more than willing to start going long, but until we see that signal, we are on the sidelines waiting for some stability. With no interest in selling, we feel it’s been a bit overdone.
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.
