(MENAFN– Daily Forex)
- The s&p 500 has rallied slightly during the Thursday trading session, with buyers stepping in, but the market appears to be heavy as the last couple of days have been negative.
- Short-term, we are probably oversold, but these candlesticks typically do not happen in a vacuum, and it is likely that we will continue to see sellers.
Advertisement take advantage of today’s market opportunities start trading now The 50-Day EMA has offered a bit of support, and we are hovering around the crucial 4100 level. The market is attempting to break back into the previous consolidation area between 4100 and 4200, but it is wise to give the market some room to bounce and then show signs of exhaustion. If we break down below Wednesday’s candlestick, we are likely to look at the 200-Day ema , followed by the 4000 handle for psychological support. It is important to remember that we are currently in the midst of earnings season, and the S&P 500 rallied on Thursday due to strong earnings reports, notably from Meta/Facebook, which is a darling on Wall Street. We are still waiting to see how GDP will affect the market, but the fact that it was lower than anticipated suggests that the economy may be slowing down. It remains to be seen whether Wall Street will price this into the stock market or focus on the fantasy that the Federal Reserve will come to bail everybody out with massive liquidity, as that has been the only argument we have had for the entire year.Choppiness AheadThe S&P 500 market is choppy, but it is likely to drift a little lower over the next few weeks. It is essential to monitor economic indicators and corporate earnings to make informed decisions about investing in the market.Ultimately, the S&P 500 market rallied slightly during Thursday’s trading session, but the market appears to be heavy as we have seen negative days. It is probable that we will see sellers in the coming days. The 50-Day EMA has offered some support, and the market is hovering around the crucial 4100 level. The market is attempting to break back into the previous consolidation area between 4100 and 4200, but it is wise to give the market some room to bounce and show signs of exhaustion . Investors should monitor economic indicators and corporate earnings to make informed decisions about investing in the S&P 500 market.Ready to trade the s&p 500 forex ? We’ve shortlisted the best cfd brokers in the industry for you.
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