The S&P 500 fell during the course of the week, testing the 1880 level. There is a significant amount of support just below, and as a result we are
The S&P 500 fell during the course of the week, testing the 1880 level. There is a significant amount of support just below, and as a result we are bit hesitant to start shorting. There is a massive hammer from a couple of weeks ago that has to be chewed through in order for us to feel comfortable shorting, which is roughly 60 points below, meaning that we have quite a way to go to get there. We don’t have any interest in buying this market, as there is no signs of support turning the market around at the moment.
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.
