The S&P 500 Index futures rose during the session on Monday as the "risk on" appetite came back into the marketplace. We bounced from just below the
The S&P 500 Index futures rose during the session on Monday as the “risk on” appetite came back into the marketplace. We bounced from just below the 1420 level, an area that has quite a bit of noise historical he. Because of this, we feel that this move is the start of the market trying to get more bullish, and a break above the 1440 level would be massively bullish. Unfortunately, between here and there we have a shooting star that will offer quite a bit of resistance. It is because of that we will wait until we break the top of that shooting star. As for selling, we do not have an interest in doing so at the moment.
S&P 500 Index Futures Forecast December 18, 2012, Technical Analysis
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.
