The S&P 500 tried to rally during the course of the session on Tuesday, but found enough resistance at the 1900 level to turn things back around and
The S&P 500 tried to rally during the course of the session on Tuesday, but found enough resistance at the 1900 level to turn things back around and form a big shooting star. The shooting star suggests that the market is going to go lower, and as a result we feel that the market will in fact test the 1850 level now, and that rallies on short-term charts should be selling opportunities as the S&P 500 continues to correct from what has been a very bullish trend over the last several months.
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.
