The S&P 500 Index futures fell during the initial part of the Thursday session, but bounced in order to form a hammer. This being said, a break of the
The S&P 500 Index futures fell during the initial part of the Thursday session, but bounced in order to form a hammer. This being said, a break of the highs from the hammer candle would be a very bullish sign indeed. In fact, we think this market should continue higher and challenge the 1460 level. As far as selling is concerned, we do not see this scenario in doing so at the moment because of the fact that there is quite a bit of support at the 1420 level, which is just below the bottom of the Thursday candle. Because of this, we are either buying on a breakout to the upside, or simply staying on the sidelines.
S&P 500 Index Futures Forecast December 21, 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.
