Stock markets rallied once more during Wednesday’s trading session, and it continues to see a lot of volatility. They are currently pressing the 50 days moving average.
The S&P 500 rallied during the trading session on Wednesday as it broke towards the 50 days EMA, attracting a lot of attention and starting to break above the 2600 level. Getting a daily close above that area would make things interesting.
It remains to see how things play out as markets are currently in the middle of earnings season. It remains to see how it will head to the 2700 level as there still a lot of noise between here and there.
Closing the day below the 2600 level would signal major resistance above which equals trouble for traders. If this happens, the market will continue to be noisy and seeing a lot of concern. However, the Federal Reserve statements should sound a bit more dovish certainly has helped.
Probably, buyers should have the upper hand, but it would take just a bad hint of trouble between the Americans and the Chinese turn things once more.
Latest Forex News, Analysis & Market Moving Events: