SP500 Index Breaks Out of Descending Channel: StockMarket stocktobuy stockmarketcrash
Ultimately, this is a market that I think will continue to be very noisy, but it’s very likely that we will see an attempt to get to the 4000 handle. It’s at the 4000 handle where I think there is significant resistance due to psychology. Perhaps the market is simply trying to recover from an oversold condition, but as we are in the midst of an important earnings season, I think that you will have to deal with a lot of bit of volatility.
Ultimately, this is a market that I think will have to pay close attention to a lot of different things, not the least of which will be the Federal Reserve. As long as they are going to be very, then it’s very difficult to imagine that the S&P 500 is going to have an easy time going higher. However, price action is what you need to pay attention to the most, because that is the thing that get you paid.
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