FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
43,874,296Confirmed
1,166,048Deaths
32,237,925Recovered
Fetching Location Data…
Advertisement
Advertisement
Christopher Lewis
S&P 500

The S&P 500 went back and forth during the trading session on Friday, as we continue to dance around the 200 day EMA. By doing so, it looks as if the market is essentially done for the moment. The Memorial Day holiday is much more likely to attract attention than the markets themselves. We are sitting close to the top of the overall range, and of course the 200 day EMA attracts all kinds of buying and selling. Quite frankly, the market looks as if it is essentially stuck at the top of a range, and of course with Monday being closed there is a lot to do in the actual index itself.

S&P 500 Video 25.05.20

This does not mean that futures will be open, they will be later in the day, but it is likely that the 3000 level above will also offer quite a bit of psychological resistance as well. If we were to break above there, the S&P 500 is likely to go looking towards the 3100 level. To the downside if we were to break down below the bottom of the candlestick from the Friday session, then it could open up a move down to the 50 day EMA, possibly even down to the 2800 level. Ultimately, I think the one thing you can probably count on more than anything else is a lot of choppiness. The market is rather indecisive, but it is starting to look more and more like we could be trying to form a bit of a rounding top.

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