S&P 500 at Make or Break Levels - Is this the Top?
SPX500 –Retail traders continue to buy into the SPX500, which tracks the fair value of the S&P 500 E-mini futures contract. This serves as evidence that stocks may have set an important peak.
Trade Implications SPX 500– Our Senior Market Strategist argues that stock markets are at a potentially pivotal turning point. If we see further strength from current levels, it would suggest that the impressive S&P uptrend remains intact. That said, a turnaround could be substantial and we’d look to sentiment for confirmation of a potential break lower. Follow along via my e-mail list for future updates on the SPX500 sentiment reading.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.