S & P: bears continue to decline

The S & P 500 index closed down 78.81 points, or 2.02%, at 3821.30 points on Tuesday, June 28; S & P economists predict that the US economy will grow by 2.4% this year, but the rise in prices and interest rates may plunge the US economy into recession in 2023. The economic momentum brought about by consumer elasticity may maintain economic stability this year, but continued high prices and radical interest rate hikes will put pressure on economic growth next year.

According to the 4-hour chart, the high short power fell rapidly, fell below the medium rail of the Bollinger belt index and entered the medium rail and lower rail range for shock, the short-term short power continued to decline, the Bollinger belt index continued to close, the MACD index was in the long area to maintain the consolidation and slow decline, and the RSI index was in the long area to maintain the shock and decline to the lower side of the 50 equilibrium line;

Long short turning point: 3846

Pressing position: 3881, 3919

Support position: 3791, 3758

Trading strategy: 3846 bearish below, target 3791, 3758

Alternative strategy: bullish above 3846, goals 3881 and 3919