The S&P 500 had a positive week, but we continue to drift lower over the last several weeks. However, we are in the middle of earnings season, so it
The S&P 500 had a positive week, but we continue to drift lower over the last several weeks. However, we are in the middle of earnings season, so it makes sense that the markets would be a bit tenuous. When I look at the chart, it’s easy to see that an argument can be made for a bullish flag, and that of course could break out to the upside, offering the next leg higher. I believe that the 2400 level will be targeted, the 2300 level will offer support, and quite frankly I have a longer-term target of 2500.
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.
