The S&P 500 fell hard during the course of the week, but bounce significantly off of the 1820 level. The resulting candle of course is a nice-looking
The S&P 500 fell hard during the course of the week, but bounce significantly off of the 1820 level. The resulting candle of course is a nice-looking hammer, and that of course is a very positive sign. If we can break above the top of the hammer, we feel that the market should then go to the 2000 level over the course of the next couple of weeks. Either way, the market looks as if it wants to go higher, and therefore we have no interest in selling this market anytime soon.
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.
