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
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.
