The S&P 500 went back and forth during the week, testing the 2250 level for support. This is a market that shows a little bit of exhaustion now, so we
The S&P 500 went back and forth during the week, testing the 2250 level for support. This is a market that shows a little bit of exhaustion now, so we could get a bit of a pullback. Even if we break down below the 2250 handle, I feel it’s only a matter of time before buyers get involved. The 2200 level below is essentially the “floor” in this market, and I think that any bounce from there would be an excellent buying opportunity. Having said that, I also like the idea of breaking above the top of the range for the previous week in buying there as well.
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.
