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S & P: high level adjustment

2022-06-28
1263
Fundamental analysis:

The S & P 500 index closed down 11.24 points, or 0.29%, at 3900.50 on Monday, June 27; The S & P 500 is set to record its fifth largest year to date decline since 1962. Whenever the S & P index rises more than 20% in a year, it will fall by an average of 11% in a relatively early new year.


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



Technical analysis:


According to the 4-hour chart, the bull power continued to fluctuate and rise near the upper rail of the Bollinger belt index, and the high level began to consolidate in the short term. The upward trend of the market was good. The Bollinger belt index began to close slowly after showing an opening trend. The MACD index remained high in the bull region, and the RSI index remained weak in the bull region;


Multi empty turning point: 3900


Pressing position: 3954, 3983


Support position: 3865, 3834


Trading strategy: bullish above 3900, target 3954, 3983


Alternative strategy: bearish below 3900, goals 3865 and 3834

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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