Geo crisis intensifies, S&P 500 underperforms

A brief analysis of the fundamentals:

On Tuesday (February 22), Russia recognized two regions in eastern Ukraine as independent republics and ordered the deployment of troops. The situation in Russia and Ukraine further intensified. Europe and the United States announced a new round of sanctions against Russia. The S&P 500 fluctuated hugely. Later, it closed at 4311.50 points. At present, the market is under the cloud of the threat of war, risk aversion is high, and risk assets are sold off collectively. If the situation in Russia and Ukraine deteriorates again, US stocks may usher in a greater decline.

S&P 500 SP500 4-hour chart

A brief technical analysis:

From the 4-hour chart, although the S&P 500 has rebounded, it still shows a bearish pattern as a whole. The moving average system is in a bearish arrangement, the MACD green column is shortened, the RSI indicator is flat, and the probability of intraday fluctuations is high.

Long and short turning point: 4420.00

Resistance level: 4520.00 4635.00

Support level: 4270.00 4150.00

Trading strategy: bearish below 4420.00, target 4270.00 4150.00

Alternative strategy: bullish above 4420.00, target 4520.00 4635.00