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DanGramza
Nov 29, 2021 11:04 PM

S&P 500 catching its breath Long

E-mini S&P 500 FuturesCME

Description

After the sprint to the downside on Friday, Monday indicated that the S&P 500 caught its breath and this resulted in an inside day for this market. The market reaction was due to the possibility of the impact of the new virus. It is the anticipation of the new virus causing a problem for the market but this has not occurred at this point. Therefore, the down day on Friday showed us what the S&P value was of the virus announcement. The Asia session opened clean and we work back up after that. I do look for follow-through this week to the upside. Very important would be how the market moves higher, if it does.
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