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S & P: continuous shock and upward movement
2022-07-08
1127
Fundamental analysis:
The S & P 500 index closed up 56.72 points, or 1.48%, at 3901.80 on July 7 (Thursday); The revised data released by the US Department of Commerce showed that the US GDP shrank at an annual rate of 1.6% in the first quarter of this year. According to the traditional definition of recession, if the economy shrank for two consecutive quarters, it would mean that the economy fell into a technical recession.
S & P SP500 - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the nodes near the upper rail of the Bollinger belt index channel continue to move up, the Bollinger belt index continues to open its mouth slowly, the MACD index remains in the bull region and moves up, and the RSI index is in the 50 equilibrium online side;
Long short turning point: 3878
Pressing position: 3940, 3972
Support position: 3839, 3789
Trading strategy: bullish above 3878, targets 3940, 3972
Alternative strategies: bearish below 3878, goals 3839, 3789
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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