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S & P: downward after rebound

2022-07-15
1156
Fundamental analysis:

The S & P 500 index closed down 11.88 points, or 0.31%, at 3789.90 points on Thursday, July 14; Bank of America lowered the year-end target of the S & P 500 index by 20% to 3600 points, and lowered its EPS growth forecast. It is expected that the United States will fall into recession in the second half of the year



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



Technical analysis:


According to the 4-hour chart, the short power continued to fluctuate downward, the bottom broke before and after the low, reversed and moved up, and the long power showed signs of waiting for the opportunity to enter, but the downward trend remained. The MACD index was in the short area to maintain the consolidation and translation, and the RSI index was below the 50 equilibrium line;


Multi empty turning point: 3805


Pressing position: 3834, 3866


Support position: 3768, 3741


Trading strategy: bearish below 3805, targets 3768, 3741


Alternative strategy: bullish above 3805, goals 3834, 3866

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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