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.
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.
