The S&P 500 went back and forth during the course of the session on Friday, testing the 2000 level at the very highs. However, we ended up forming a
The S&P 500 went back and forth during the course of the session on Friday, testing the 2000 level at the very highs. However, we ended up forming a fairly neutral candle for the session, and if we can break above the 2000 handle we would be a buyer. On the other hand, if we pullback from here we would look for supportive candles in order to start going long. We have no interest whatsoever in shorting this market as it has seen a significant bounce and of course has formed a massive hammer on the weekly chart.
SP 500 Forecast August 31, 2015, Technical Analysis
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.
