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.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
