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S&P 500 arrives at major hurdle: 2000

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The S&P reached and breached the key 2000 level on the back of today’s non-farm payrolls report. Traders’ initial reaction to the data was joy as they saw the 242,000 NFP figure flash in their screens but then realised wages were weak (down 0.1% month-over-month), so they sold stocks and the S&P tumbled. But then the markets recovered as traders bought the dip possibly because they figured that the Fed may hold off raising rates again this year. At the same time, the weaker dollar

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