Analyst Warns S&P 500 Could Struggle to Go Higher After Recovery
Todd Gordon, a long-time stock analyst and the founder of TradingAnalysis.com, is “nervous” about the current state of the S&P 500. The index crashed just before Christmas to below 2350, but has affected a steady recovery in the meantime. By press time it had gained 2% on its numbers 3 months ago.
The index crashed just before Christmas to below 2350, but has affected a steady recovery in the meantime. By press time it had gained 2% on its numbers 3 months ago. A
Gordon tells CNBC in a recent interview:
The 200-day moving average right here — we have tried it once, twice, three, coming back on a fourth time. This is going to be a deadly battleground. I want to short it but I want to be very diligent and get a good price, stop out above 2,900, but again, don’t think is going to be an easy trade. I think we sell off but it’s going to be very volatile for a period while we decide what to do here.
Read the full story on CCN.com.
