The S&P 500 fell hard during the course of the week, testing the 1870 level. With this, the market found enough support to turn things back around and
The S&P 500 fell hard during the course of the week, testing the 1870 level. With this, the market found enough support to turn things back around and form a massive hammer. Ultimately, this hammer sits just below the 2000 level, and as a result it looks as if the market is ready to continue going higher. A move above the 2000 level is a long-term buying opportunity, and should send this market to the 2130 handle. We have no interest in selling, and think that pullbacks would end up being nice buying opportunities.
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.
