The S&P 500 as you can see fell to the 1990 level initially during the session on Friday, but bounced enough to close well above the 2005 level.
The S&P 500 as you can see fell to the 1990 level initially during the session on Friday, but bounced enough to close well above the 2005 level. Because of that, we feel that the market will eventually break above the top of the shooting star on Thursday, which will be the signal to start buying. On top of that, a short-term pullback to the 1990 level would also offer a buying opportunity on a supportive candle as well. With that, we are bullish but we recognize that the market might go sideways for a bit.
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.
