The S&P 500 fell over 1% during the session on Wednesday, as we sliced through the 1950 level. There is a significant amount of support near the one
The S&P 500 fell over 1% during the session on Wednesday, as we sliced through the 1950 level. There is a significant amount of support near the one 1940 level though, and we did bounce from it. On top of that, we do have the nonfarm payroll numbers coming out tomorrow, so today could be a fairly benign session. With that, we are going to avoid playing this market today, it’s simply wait until we see what kind of setup we have going into nonfarm payroll Friday. Ultimately, we think it’s only minor time for the buyers step back in though.
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.
