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S & P: low weak shock

2022-06-17
885
Fundamental analysis:

The S & P 500 index closed down 122.75 points, or 3.24%, at 3667.99 on Thursday, June 16; The global stock market decline spread to the US stock market, and the fear of economic recession reappeared.


S & P SP500 - 4-hour K-line diagram display:



Technical comments: the short power continued to fluctuate and fall in the middle and lower rail section of the Bollinger belt index channel, and fell below the lower rail to the node near 3640. The short-term short power showed signs of continuing to remain weak. The Bollinger belt index began to slowly open its mouth after showing a closing trend. The MACD index remained in the short area and the RSI index was in the weak downward movement of the short area;


Multi empty turning point: 3696


Pressing position: 3728, 3759


Support position: 3644, 3611


Trading strategy: 3696 bearish below, target 3644, 3611


Alternative strategy: bullish above 3696, target 3728, 3759


The above analysis is a personal point of view and is for reference only.

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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