The S&P 500 rallied during the day on Friday, testing the top of the shooting star from Thursday. I think the market is going to basically consolidate
The S&P 500 rallied during the day on Friday, testing the top of the shooting star from Thursday. I think the market is going to basically consolidate around the 2350 handle, but more than likely the buyers will eventually return. A break above the top of the Thursday candle would be a nice buying opportunity, reaching towards the 2400 level. Even if we fall from here, I believe that the 2300 level underneath is massively supportive and essentially the “floor” in this market. With this being the case, I believe that we are eventually going to reach towards the 2500 level.
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.
