The S&P 500 fell hard during the course of the session on Monday, breaking through the 2100 level. However, the market looks as if there is plenty of
The S&P 500 fell hard during the course of the session on Monday, breaking through the 2100 level. However, the market looks as if there is plenty of support below there though, so we are simply waiting to see if we get some type of supportive candle in order to go long. We have no interest in selling at the moment, we believe there is more than enough support below to continue to grind sideways overall, with an upward bias on the even longer-term charts. However, keep in mind that this is summer trading, and that generally means a real lack of enthusiasm.
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.
