The S&P 500 tried to rally initially during the session on Tuesday, but found the 1985 level resistive again. The resulting action turn the market
The S&P 500 tried to rally initially during the session on Tuesday, but found the 1985 level resistive again. The resulting action turn the market back around and formed a shooting star. However, there is a significant amount of support at the 1965 level below to keep the market somewhat afloat in our opinion, so we think this simply means that there’s going to be more consolidation in the short-term. Ultimately, we think that the “floor” in this market is closer to the 1950 level, so until then we are buying supportive candles.
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.
