The S&P 500 as you can see went sideways initially during the day on Friday, and then broke out to the upside. The 24-hour exponential moving average is starting to offer a little bit of trouble, but I think that if we can break above the top of the range during the day, the market should then go looking towards the 2450 handle. A break above there should send this market to the 2500 level. I have no interest in shorting quite yet, but I do recognize that there is a lot of bearish pressure.

S&P 500 Video 03.7.17

This article was originally posted on FX Empire

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