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S & P: high and falling consolidation
2022-07-19
1150
Fundamental analysis:
The S & P 500 index closed down 33.76 points, or 0.87%, at 3829.40 on Monday, July 18; As the Federal Reserve began to raise interest rates, the housing market, which had been booming for most of the epidemic period, was declining. The Federal Reserve has raised interest rates by 1.5% from near zero this year, and may raise interest rates by 2% or more before the end of this year.
S & P SP500 - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart: after the Bull Power maintained a concussion and rise, the high level fell sharply and reorganized in case of resistance, the short power waited for the opportunity to enter and continued to decline, the MACD index was in the bull region to maintain consolidation, and the RSI index was in a narrow range around the 50 equilibrium line;
Long short turning point: 3843
Pressing position: 3860, 3881
Support position: 3816, 3802
Trading strategy: bearish below 3843, targets 3816, 3802
Alternative strategies: bullish above 3843, goals 3860, 3881
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