The S&P 500 went back and forth during the day on Monday, but ultimately ended up forming a relatively negative candle. That being the case, it looks
The S&P 500 went back and forth during the day on Monday, but ultimately ended up forming a relatively negative candle. That being the case, it looks like we are going to pull back, possibly as low as 1950 in order to find buyers again. Down there, we would anticipate buyers to step back in, ultimately pushing the market higher. We think that sooner or later in the marketplace we should see strength, therefore we are not willing to sell it at this point in time. On the other hand, if we broke down below the 1900 level, we would be sellers.
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.
