The S&P 500 initially tried to rally during the course of the session on Wednesday, but found a bit too much in the way of resistance above the 1910
The S&P 500 initially tried to rally during the course of the session on Wednesday, but found a bit too much in the way of resistance above the 1910 level to continue going higher. We ended up pulling back in forming a shooting star. This of course signifies that we are probably going to have sellers stepping back into this market again. The question of course is whether or not we can break down from here. As far as buying is concerned, we need to break above the 1950 level. In the meantime, expect a lot of volatility and noise.
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.
