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S&P 500 Forecast February 23, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Feb 23, 2017, 05:16 UTC

The S&P 500 went back and forth on Wednesday as we are starting to run out of strength. However, I think that a pullback only to be a nice buying

S & P 500 daily chart, February 23, 2017

The S&P 500 went back and forth on Wednesday as we are starting to run out of strength. However, I think that a pullback only to be a nice buying opportunity on longer-term charts, so patient will be needed to pick up the profits that await in this index. I have no interest in shorting, with the bullish pressure that we have seen, I feel it’s only a matter of time before the buyers return. Because of this, it’s probably best to be on the sidelines as we await more momentum to continue climbing.

S&P 500 Video 23.2.17

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About the Author

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.

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