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Published on Aug 24, 2016
The
S&P 500 fell during the day on Wednesday, as we continue to grind
back and forth in this general vicinity. However, this was a fairly
negative candle, so we could get a little bit of follow-through to the
downside. Ultimately, I do think that given enough time we could find a
supportive candle below that turned the market back around. The 20-day
exponential moving average is sitting right where the market is now, and
as a result I feel that the market will perhaps attract some
longer-term traders. Ultimately though, I believe this is a market that
will eventually find buyers as there is such a low interest-rate
environment right now, and of course the United States is the strongest
market that people typically trade.
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