The S&P 500 rallied on Tuesday, breaking above the top of a hammer from Monday. However, the 2275 level continues to offer quite a bit of resistance.
The S&P 500 rallied on Tuesday, breaking above the top of a hammer from Monday. However, the 2275 level continues to offer quite a bit of resistance. If we can make a fresh, new high, the market should then go to the 2300 level. Nonetheless, I think we not only reach the 2300 handle, but we break farther to the upside from there. This is a very strong uptrend, and I think it will continue rather soon. I have no interest in selling this market, and believe that we will continue to see more and more momentum.
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.
