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S & P: bearish shock downward
2022-07-13
1138
Fundamental analysis:
On July 12 (Tuesday), the S & P 500 index closed down 35.29 points, or 0.92%, to 3819.14 points; IMF warned that the U.S. GDP shrank in the first quarter, while the Atlanta Fed's gdpnow and other economic activity tracking indicators seem to indicate that GDP will shrink again in the second quarter.
S & P SP500 - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the high short momentum maintained a shock downward, and the short-term decline remained the same. The MACD index hovered below the 0 axis, and the RSI index was in a narrow range under the 50 equilibrium line;
Long short turning point: 3834
Pressing position: 3866, 3896
Support position: 3793, 3765
Trading strategy: bearish below 3834, targets 3793, 3765
Alternative strategies: bullish above 3834, goals 3866, 3896
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