The S&P 500 initially fell during the course of the session here on Wednesday, but found enough support below to turn things around and form a bit of
The S&P 500 initially fell during the course of the session here on Wednesday, but found enough support below to turn things around and form a bit of a hammer. Because of this, I believe that the market is going to continue to grind higher, perhaps reaching to the upside. Ultimately, the market should continue to find buyers below, so at this point in time I believe that the S&P 500, much like all of the major US indices, will continue to be a “buy only” market at this point in time.
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.
