The S&P 500 rallied on Monday, bouncing off of the 2060 level, as it has offered support yet again. The market has been bullish for a while now, and
The S&P 500 rallied on Monday, bouncing off of the 2060 level, as it has offered support yet again. The market has been bullish for a while now, and with this we are buyers in general, but recognize that it is going to take a certain amount of momentum to break above the 2100 level. This would be a bullish, and would have this market more or less in a “buy-and-hold” mode going forward. This market has been a bit overextended lately, so it could take multiple attempts to finally go higher. We have no interest in selling at this point in time.
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.
