The S&P 500 fell initially during the session on Monday, but found the 1950 level to be supportive enough to turn things back around and form a
The S&P 500 fell initially during the session on Monday, but found the 1950 level to be supportive enough to turn things back around and form a nice-looking hammer. Because of that, we believe that this market will continue to go higher, and a break of the top of the hammer probably sends this market looking for 2000. That is our longer-term target anyway, so having said that we are bullish only. We believe the pullbacks will continue to offer buying opportunities on signs of support. At this moment in time, there is no scenario in which we search selling.
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.
