European and American data raise concerns, heavy data is coming

A brief analysis of the fundamentals:

On Tuesday (May 24), the poor economic data in Europe and the United States dragged down the performance of risk assets. Snap warned that its Q2 earnings report would be less than expected, causing the market to worry about economic growth risks. The S&P 500 continued to fluctuate at a low level and closed at 3957.05 points. The minutes of the Fed's May meeting released within the day will give investors an in-depth understanding of the Fed's tightening path design ideas, while the core PCE price index is the Fed's more concerned inflation target, focusing on the impact of two major events on the market.

S&P 500 SP500 4-hour chart

A brief technical analysis:

From the 4-hour chart, the S&P 500 fluctuated sideways on the basis of 3900, the overall volatility was narrow, the moving average system was flat, the MACD green column was shortened, and the RSI indicator was flat.

Long and short turning point: 3900.00

Resistance: 4060.00 4200.00

Support level: 3800.00 3680.00

Trading strategy: bullish above 3900.00, target 4060.00 4200.00

Alternative strategy: bearish below 3900.00, target 3800.00 3680.00