The S&P 500 initially fell during the course of the day on Thursday, but as you can see the 1980 level offered enough support to turn things back
The S&P 500 initially fell during the course of the day on Thursday, but as you can see the 1980 level offered enough support to turn things back around and form a nice-looking hammer. With that, we feel that the market is going to continue going higher, and we would eventually hit the 2010 level. If we get above there, we feel that the S&P 500 be more of a “buy-and-hold” type of situation, and as a result we have absolutely no interest whatsoever in selling this market. Ultimately, we do believe that this market should continue to be a buying opportunity waiting to happen.
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.
