FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
99,815,194Confirmed
2,140,100Deaths
71,816,575Recovered
Fetching Location Data…
Advertisement
Advertisement
Christopher Lewis
S&P 500

The S&P 500 traders continued the FOMO trade overnight, but once the cash market opened things settled down again. It is almost as if Wall Street is starting to take notice that the world has a lot of issues at the moment. As things get increasingly volatile both from a social and economic standpoint, Wall Street has simply pumped stocks higher and higher. However, you should keep in mind that these indices are very misleading and the fact that they are not equal weighted. In other words, a handful of stocks can send this market straight up in the air, and a lot of traders will refer to the S&P 500 as the “S&P 6”, because there are six stocks that make up a majority of what happens.

S&P 500 Video 03.06.20

It is a good sign that the S&P 500 is holding above the 3000 level, but it should also be noted that there is a significant amount of noise all the way to the 3100 level. Because of this, I think it is very precarious at the moment and it is not until we break in one direction or the other, either above 3100 or below 3000 that you can put serious money to work, unless of course you are a day trader looking to simply go back and forth.

Advertisement
Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

If you are looking for a longer-term swing trade, the best trade right now is to be on the sidelines and simply ignore the day-to-day noise. Does the economic condition warrant the S&P 500 been all the way appear? No, of course it does not but that has not mattered for 12 years.

For a look at all of today’s economic events, check out our economic calendar.

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US