The S&P 500 initially dipped during the day on Wednesday but found enough support near the 2490 level to really just slightly from that point.
The S&P 500 initially dipped during the day on Wednesday but found enough support near the 2490 level to really just slightly from that point. However, I think longer-term we have to worry about the 2500 level above, as the large, round, psychologically significant number should offer resistance. If we can break above there, and on a daily close, at that point, I would be much quicker to start buying again. In the meantime, I think short-term pullbacks should be short-term buying opportunities, but not much more than that as we approach this crucial level.
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.
