The S&P 500 as you can see broke higher during the course of the session on Friday, testing the 1900 level. With that being the case, the market
The S&P 500 as you can see broke higher during the course of the session on Friday, testing the 1900 level. With that being the case, the market continues to struggle against what was once the bottom of the consolidation area in the form of the 1900 level. Because of that, the market should eventually break above that level, and offer nice buying opportunity. After all, keep in mind that the weekly chart formed a hammer, which of course is a very bullish sign as well. A move above 1900 breaks the top of that, and therefore gives both a short and long-term buying opportunity.
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.
