The S&P 500 broke higher during the day on Thursday, clearing the top of the support of looking candle from Wednesday. Because of this I believe that
The S&P 500 broke higher during the day on Thursday, clearing the top of the support of looking candle from Wednesday. Because of this I believe that the market should continue to go higher, perhaps reaching towards the 2400 level over the longer term. I have no interest in shorting this market, I believe that the 50-day exponential moving average continues to offer plenty of support, and we are obviously and a strong uptrend longer term. Ultimately, I believe that this market will not only reach towards the 2400 level, but then break out and reach towards 2500.
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.
