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.
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.
