The S&P 500 fell during the day on Thursday, testing the 2060 handle. This is an area that was supportive previously, so it should be supportive now.
The S&P 500 fell during the day on Thursday, testing the 2060 handle. This is an area that was supportive previously, so it should be supportive now. However, we recognize that there is also support at the 2050 handle, and of course the 2030 handle. We are simply waiting to see whether or not we get a supportive candle in order to start buying again, which of course would send this market looking for the highs yet again. We have no interest in selling, there is far too much in the way of momentum below.
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.
