The S&P 500 fell during the majority of the week, but as you can see found enough support near the 1925 level to bounce and form a nice-looking
The S&P 500 fell during the majority of the week, but as you can see found enough support near the 1925 level to bounce and form a nice-looking hammer. The hammer of course suggests that the market is going to continue going higher, especially considering that it is sitting on top of a nice uptrend line. That being the case, we believe that this market will eventually hit the 2020 level again, and then ultimately break out above that level and go much higher levels. We have no interest in selling the S&P 500.
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.
