The S&P 500 is on the verge of confirming a breakdown from a multi-month channel. It could lead to the first lower-low in the uptrend in quite some time. If we see this develop, then the outlook could become favorable for would-be shorts. If we see a gap-down and fully recovery today, that would be construed as a short-term positive. Today may have a lot of meaning for the rest of the week and beyond.
For the full details, please check out the video above…
S&P 500 Daily Chart
Resources for Forex Traders
Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.
---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX