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.
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.
