The S&P 500 initially went sideways during the session on Friday, slicing through the 2425 handle at one point but turned around to show extreme
The S&P 500 initially went sideways during the session on Friday, slicing through the 2425 handle at one point but turned around to show extreme amounts of bullish pressure. Because of this, I believe that the S&P 500 is probably going to go reaching towards the 2450 handle. However, look at the weekly charts we had formed a shooting star that looks very negative and sits on a trend line. It will be interesting to see if this market can hang on to the gains, because if it will do so, I think that the 2425 level may become the new “floor” in the market. Expect choppiness nonetheless.
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.
