The S&P 500 bounced off the 50-day exponential moving average to form a hammer during midday trading on Wednesday. If we can break above the top of a
The S&P 500 bounced off the 50-day exponential moving average to form a hammer during midday trading on Wednesday. If we can break above the top of a hammer, that is a classic sign to start going long. The market has been in a very long-term uptrend, and I believe that the market will continue to follow that going forward. Quite frankly, there are plenty of reasons to think that value investors are coming back, and we are starting to see it early during the Wednesday session. I still think that we reach towards 2400.
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.
