S+P 500 Index Testing Resistance
Spread Betting Comments from Robert Pike, Head Trader, Spreadex.
The FTSE is expected to open approximately 20 points higher this morning as the markets continue to digest comments from the Fed last night.
US markets rallied following the ’steady as she goes’ remarks from the Fed and were buoyed by talk of recessionary pressures easing.
As with most Fed announcements the interest was in the statement. In yesterday’s case traders were encouraged by signs that the enormous fiscal and monetary stimulus package was beginning to work.
The S&P 500 Index again tested the 1010 level and closed just below it. With this latest news it might be able to push higher and continue the recent rally.
Spread betting carries a high level of risk to your capital and can result in losses larger than your initial deposit/stake. It may not be suitable for everyone, so please ensure you fully understand the risks involved.
Good Luck!
DB
The above comments do not constitute investment advice Clean Financial accepts no responsibility for any use that may be made of them.
Content provided by Spreadex which is authorised and regulated by the Financial Services Authority. FSA Register number 190941.
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