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.
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.
